April 1, 2015 – Calgary, AB.: Morro Bay Resources Ltd. ("Morro Bay" or "the Company") (TSX-V: MRB) announces the option on the Peñoles Project under the Option Agreement between Morro Bay and Riverside Resources Ltd. ("Riverside") has been extended from March 31, 2015 to May 1, 2015.
As one of the conditions to acquire a 51% interest in the Peñoles Project (see the January 20, 2015 press release), the Company needs to make a payment of $750,000 payable at the Company’s discretion in either cash or Morro Bay shares priced at $0.05 cents. The Company currently intends on meeting this condition and anticipates exercising the option.
About Morro Bay
Morro Bay is a junior mineral exploration company based in Calgary, Alberta, Canada, focused on the exploration for precious metals in Mexico. Morro Bay's business strategy is to build shareholder value by rapidly advancing the Peñoles Project in Mexico through the resource delineation stage.
Further Information
For further information please contact:
Morro Bay Resources Ltd. John C. Zang President and Chief Executive Officer [email protected] 403 680 9264 Patrick Piette Investor Relations [email protected] 416 526 9911Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information in this news release may contain forward looking information. Statements containing forward looking information express, as at the date of this news release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future currently available to the company.
Original Article: https://docs.google.com/a/morrobayresources.com/viewer?a=v&pid=sites&srcid=bW9ycm9iYXlyZXNvdXJjZXMuY29tfG1vcnJvLWJheS1yZXNvdXJjZXN8Z3g6OTZhOGM4ZWFiY2Y1NDg4
