LAS VEGAS, June 20, 2011 /PRNewswire/ - Gold Dynamics Corp. (OTCBB:GLDN) ("Gold Dynamics Corp." or the "Company") is pleased to announce that the terms of acquisition have been reached in connection with the letter of understanding between the Company and Artemio Terrazas Arredondo and Norma Velazquez Jurgeit regarding the option, purchase and operation by the Company of the Santiago Gold Property located in the state of Durango of Mexico.
Mr. Arredondo and Mrs. Jurgeit are collectively the registered and beneficial owners of a 100% interest in the Santiago Gold Property. They have agreed to option their 100% interest to the Company in exchange for a $35,000 option payment. In addition, the Company has committed to a geological exploration program and a drilling program consisting of a minimum of 500 meters of drilling in the first year. The Company will also have two years to acquire the property in exchange for a further payment of $400,000 to Mr. Arredondo and Mrs. Jurgeit combined and also, the provision of a 1% NSR royalty to each of Mr. Arredondo and Mrs. Jurgeit.
The Company is planning on furthering the past extensive geological work performed and also on commencing new exploration work and a drilling program in other regions of the property.
For a full account of Gold Dynamics Corp. corporate objectives and contact information, please visit the website at www.golddynamics.comABOUT GOLD DYNAMICS CORP. Gold Dynamics Corp. is an emerging precious metals explorer focused on underexplored regions of the world that is seeking to grow shareholder value by building gold and silver mineral resources through systematic exploration. The Company has brought together a highly experienced board and management team consisting of capable professionals with significant development and mine management experience.