TIDMSGZ

RNS Number : 2813S

Scotgold Resources Ltd

22 June 2018

22 June 2018

Scotgold Resources Limited

("the Company" or "Scotgold")

Update on sale of French Subsidiary

The Company wishes to update the market on the status of the sale of its French subsidiary, as announced on 15 March 2018 ("the Transaction"). The sale is conditional upon the parties receiving satisfactory acknowledgement from the Minerals Resources Office of the Ministry for Economy and Finance of France, that the transfer of shares is acceptable. The Company has not yet received such acknowledgement and until such time as acknowledgement is received and the contract for sale of the French subsidiary becomes unconditionally enforceable, there must exist some uncertainty that the sale will conclude, or that it will conclude on the terms agreed.

The Company will continue to pursue a conclusion to the Transaction, however, the directors consider that the Transaction is not material in relation to the Company's operations and it does not affect the current focus of the Company to develop the Cononish gold mine project. This update announcement is made in the interests of continuous and transparent disclosure and will be updated further as circumstances become more clear.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

For further information -

 
 Scotgold Resources Limited        Tel: +44 (0)1838 400 306 
  Richard Gray 
 SP Angel Corporate Finance LLP    Tel +44 (0) 20 3470 0470 
  Nomad and Joint Broker 
  Ewan Leggat / Charlie Bouverat 
 Smaller Company Capital Ltd       Tel: +44 (0)20 3651 2911 
  Joint Broker 
  Rupert Williams 
 Capital Markets Consultants       Tel: +44(0)7703 167 065 
  Financial PR 
  Simon Rothschild

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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June 22, 2018 07:59 ET (11:59 GMT)

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