Staccato Amends Lookout Mountain Project Lease
Vancouver, B.C. - July 21, 2008 -- Staccato Gold Resources Ltd. (CAT-TSX.V) announces that it has negotiated an amendment to the Lookout Mountain project lease, providing for an extension of the lease term to 20 years, and thereafter for as long as minerals are mined on the property. The amendment also provides for an increase in the advanced royalty payments to $72,000 per annum commencing on June 1, 2009. Staccato is also required to make annual minimum exploration expenditures of $250,000 for the first five years, and spend an additional $250,000 before June 1, 2016, for a total minimum work commitment of $1,500,000. Exploration expenditures in excess of $250,000 in any year can be accumulated and carried forward and credited to expenditures required in succeeding years.
Staccato's Lookout Mountain project is part of the Company's extensive South Eureka property, located in north central Nevada on the prolific Battle Mountain-Eureka trend.
On behalf of the Board of Directors
STACCATO GOLD RESOURCES LTD.
"Grant Ewing"
Grant Ewing, President & CEO, Director
