Published: November 23, 2012
Press Release
GeoNovus Completes Due Diligence on Redhill's Nyakagwe Properties
Redhill Resources Corp. (TSX VENTURE:RHR) ("Redhill" or the "Company") is pleased to announce that GeoNovus Minerals Corp. (TSX VENTURE:GNM) ("GeoNovus") has completed and is satisfied with its due diligence on the Nyakagwe Properties (the "Nyakagwe Properties") in Tanzania.
Accordingly, Redhill will proceed with entering into a formal definitive agreement with GeoNovus for the disposition of the Company's Nyakagwe Properties, as discussed in detail in the Company's news release dated September 25, 2012.
The Nyakagwe Properties consist of forty-six primary mining licenses (PML's), and one prospecting license (PL) encompassing a combined area of approximately 500 hectares surrounded entirely by prospecting licenses and applications for prospecting licenses owned and presently being explored by Tembo Gold Corp. ("Tembo").
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