GOLDSTRIKE RESOURCES LTD ("GSR")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement, Resume Trading
BULLETIN DATE: February 14, 2014
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing a joint venture agreement between Goldstrike Resources Ltd (the "Company") and Petro One Energy Corp. ("Petro One") dated November 20, 2013, whereby the Company has the right to earn a 50/50 working interest in an oil well on Petro One lands in Saskatchewan and Manitoba.
In order to acquire the 50% working interest, the Company must:
* Share the costs of drilling Well #SR1 on the South Reston property, Manitoba with Petro One on a 50/50 basis and reimburse Petro One for $50,000 out-of-pocket expenses previously incurred by Petro One on South Reston.
* Upon completion of drilling, a decision will be made to complete the well or abandon it. If the decision is to complete, the Company will be responsible for 100% of the completion costs, and if abandoned, the Company and Petro One will split reclamation costs 50/50.
* If Well #SR1 is successful, the Company will have earned its interest in Well #SR1 and the Companies will share costs to drill a second well, Well #SR2 on the Petro One Lands under the same terms.
* If Well #SR1 is not successful, the Company and Petro One will share costs of drilling a single oil well at Kirkella, Manitoba ("Well #K1") under the same terms, except the Company will not have any rights to drill another well on the Kirkella property.
The transaction is a Non Arms-length transaction.
Further details can be found in the Company's news releases
Resume Trading
Effective at open of trading, Tuesday, February 18, 2014, shares of the Company will resume trading, an announcement having been made.
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