Renaissance Gold sells its South Roberts gold project in exchange for a 1% royalty on future gold production

Renaissance Gold Inc (CVE:REN) (OTCQB:RNSGF) is selling its South Roberts gold project in Nevada to a private US company as part of the firm’s evolution from prospect generator to royalty company. The Vancouver-based company will retain a 1% net smelter return (NSR) royalty interest on any future production from South Roberts and a 0.5% NSR on any production from a separate group of claims known as RW. Located in Eureka County, South Roberts is on the Battle Mountain-Eureka trend of prolific gold deposits and just south of McEwen Mining’s Gold Bar mine. READ: Renaissance Gold announces transformational deal with Evrim Resources to form leading prospect generator and royalty company The project targets concealed Carlin-type gold mineralization and has not been adequately drill tested, providing opportunity for “world-class” discovery, according to Renaissance. In June, Renaissance announced plans to merge with Evrim Resources Inc to form a new multifaceted business called Orogen Royalties Inc, which will focus on project generation buttressed by a strong royalty portfolio. Orogen's royalty portfolio will contain a 2% NSR on the Ermitaño West gold deposit in Sonora, being developed by First Majestic Silver Corp and planned to be in production in 2021, and a 1% NSR on the Silicon gold project in Nevada, operated by AngloGold Ashanti NA. Contact Angela at angela@proactiveinvestors.com Follow her on Twitter @AHarmantas