Bering Straits Native Corporation Announces Acquisition of Alaska Gold Co.

November 1, 2012by Media

BSNC is pleased to announce that it purchased the Alaska Gold Company, LLC from NovaGold Resources Inc., a Canadian precious metals company.

The purchase culminated negotiations between BSNC and NovaGold, which initially focused on the reclamation of the Rock Creek Mine, and subsequently expanded to include the purchase of AGC and its substantial assets in the Nome area. The BSNC Board of Directors unanimously approved the purchase of AGC on October 12, 2012, the day before BSNC’s Annual Shareholders meeting.

The purchase announcement was made at the Annual Meeting by BSNC President and CEO Gail Schubert, who stated “Management and the Board believe that purchasing AGC and its properties and assets in the Nome area will provide a good foundation for additional diversification of BSNC’s operations, particularly within the Bering Strait region. We are evaluating whether gold mining operations can be restarted at the mine site because of the economic development and employment opportunities that mining would create for our region.”

The assets of AGC include the Rock Creek Mine facility, all patented mining claims in the Rock Creek and Big Hurrah project areas, certain real estate within the city limits of Nome, and gravel and sand resources in and around Nome. The Rock Creek Mine facility was constructed by AGC beginning in 2006. Recently, NovaGold successfully concluded Phase I of the reclamation plan, including settling all environmental issues at the mine site with the Alaska Department of Environmental Conservation. BSNC is currently working with an outside engineering firm to evaluate future mining potential at Rock Creek and Big Hurrah.

OFFICESWhere to find us?
Bering Straits Native Corporation is headquartered in Nome, has a business office in Anchorage and site locations and offices across the U.S.
OUR LOCATIONS
ANCHORAGE
3301 C Street, Suite 100, Anchorage, AK 99503
NOME
PO Box 1008. 110 Front Street, Suite 300, Nome, Alaska 99762
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OFFICESBering Straits Native Corporation
OFFICESWhere to find us?
BSNC is headquartered in Nome, has a business office in Anchorage and site locations and offices across the U.S.
OUR LOCATIONSWhere to find us?
ANCHORAGE
3301 C Street, Suite 100, Anchorage, AK 99503
NOME
PO Box 1008. 110 Front Street, Suite 300, Nome, Alaska 99762
GET IN TOUCHStay Connected
Follow BSNC for news, updates, stories, and opportunities to share in this journey.
Sign up for our newsletter
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