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DGO Gold expands land position in Western Australia, nets A$600,000 from GBM stake sale

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DGO Gold expands land position in Western Australia, nets A$600,000 from GBM stake sale

DGO Gold Ltd.said May 10 that it has applied for six exploration licenses covering an area ofapproximately 1,294 square kilometers in Western Australia's Yerrida Basin, whichis considered highly prospective for sediment-hosted gold and base metal mineralization.

These tenements, combined with the company's current applicationsand the TasEx joint venturetenement, expand the company's land position in the Yerrida Basin to approximately1,553 square kilometers.

DGO said the applications are in line with its ongoing greenfieldsexploration strategy, which focuses on gold and base metal deposits in sedimentarybasins.

In a separate May 9 release, the company said it sold its 50million fully paid ordinary shares in GBMResources Ltd. for A$600,000.

Funds will be put toward working capital and for the company'sexploration program.