Open Gold Corp. (OPG.VN)

Open Gold is a public company listed on both the TSX-V and the Frankfurt Exchanges. With the recent acquisition of the Mitchell property and the changes in management, Open Gold has embarked on a strategic acquisition campaign designed to place it at the forefront of the turning market expected in Q4 2012. Current market conditions favor those companies looking to grow through acquisition and exploration based development of assets. Open Gold will aggressively capitalize and exploit this short term weakness to the benefit of its investment partners. The acquisition of the highly prospective Mitchell property is but the first step in this business plan. Management continues to review properties with a focus on Gold, Copper and Silver in appropriate jurisdictions with the most upside potential for shareholders.

MITCHELL PROPERTY, ONTARIO

In May of 2012, Open Gold entered into an agreement with Foundation Resources Inc. for an option to acquire 100% of the Mitchell Massive Sulfide Project (2,256 ha) located approximately 10 kilome tres southwest of the former South Bay Mine (1.6 Mt mined @2.5% copper, 14% zinc and 120 g/t per ton silver) by issuing a total of 1.3 million Open Gold shares, making total cash payments of $203,000 and incurring $1 million in exploration expenditures within 37 months of the Agreement. The infrastructure at the property is excellent, being situated approximately 80 kilometres east of the Town of Red Lake, Ontario with access via the South Bay Road that extends east off of Highway 105 and runs along an electrical grid.
The Mitchell Property occurs within the southern Birch-Uchi Greenstone Belt in the Uchi Subprovince of the Superior Province of the Canadian Shield and contains felsic-intermediate metavolcanic units similar to those found at the South Bay Mine. A recent HELI-TEM (time-domain electromagnetic system) survey flown in September 2011 by Foundation detected two prominent ‘bulls-eye’ electromagnetic anomalies ‘A’ and ‘B’ of potential base metal-sulphide (copper-zinc-silver) bodies located, respectively, in the western and eastern parts of the property.

EHOLT PROPERTY, BRITISH COLUMBIA

Open Gold also holds a 100% interest in 16 highly prospective gold-copper mineral claims located in the Green wood Mining Division of south central British Columbia more specifically known as the Eholt Property, subject only to a 2.5% net smelter return. The property, near a past producing mine, is ideally located with respect to Highway 3, hydro power lines and support communities. All of the proposed drill sites are readily accessible on existing roads.
The Eholt Property is a large (3,000 ha – 7,413 acre) gold and copper exploration property located near the communities of Grand Forks and Greenwood in the Boundary District of south central British Columbia. It lies 4 km northeast of the historic Phoenix Copper Mine which produced more than one million ounces of gold and 460 million pounds of copper during two separate 19 year periods of production.

MANAGEMENT & DIRECTORS

Bryson Goodwin    President & CEO, Director

Former Director, Investor Relations of Klondex Mines Ltd.; 18 years of experience in the public, private and financial  markets,  with concentration on corporate

finance; involved in capital raising efforts, including a $10 million round completed in the midst of the 2008 market crash; maintains a very strong network of investment community relationships in North America, Asia and Europe.
Peeyush Varshney, LL.B. Director

Principal and Director of Varshney Capital Corp.; director or officer of several publicly traded companies including Mountain Province Diamonds Inc. (TSX: MPV), a partner in the largest new diamond mine under development globally and Canada Zinc Metals Corp (TSX-V: CZX), an advanced mineral exploration company with a 100% interest in the Akie zinc-leadsilver property in British Columbia.
Hari Varshney, FCA Director

President and Director of Varshney Capital Corp.; director or officer of several publicly traded companies; in the past 25 years has been involved in raising over

$200 million in the public markets for various venture capital projects around the world.
Marco Strub Director

From 1997 to 2003 was a partner of Exulta AG and is currently a principal of Sircon AG in Switzerland; director of various private and publicly traded companies including Canada Zinc Metals Corp.
Jim Kermeen, M.Sc., P. Eng.  Director

Self-employed  consulting  geological  engineer since

1986; a director or officer of several publicly traded companies in the mineral exploration industry.