Micon Gold Inc. signed agreement in principle to acquire Jubilee Gold Inc. (TSXV:JUB) in a reverse merger transaction on November 12, 2012. In a related transaction, Micon Gold Inc. signed agreement in principle to acquire Ansil Resources Ltd on November 12, 2012. The amalgamated entity will operate under the name Jubilee Gold Explorations Ltd. The proposed amalgamation of Micon Gold Inc, Jubilee Gold Inc. and Ansil Resources Ltd will result in the issuance of approximately an aggregate of 10.4 million common shares of Jubilee Gold Explorations Ltd. to former shareholders of the amalgamating corporations based on the following share exchange ratios: (i) for every one common share of Jubilee, shareholders will receive 0.212 common shares (ii) for every one common share of Ansil, shareholders will receive 0.551 common shares and (iii) Micon shareholders will receive 1.035 common shares of Jubilee Gold Explorations. The respective Boards of Directors of Jubilee Gold, Ansil Resources and Micon Gold approved the amalgamation. The proposed amalgamation is subject to third party, Governmental and TSX-V approval. Jubilee Gold, Ansil Resources and Micon Gold plan on holding special meetings of their respective shareholders on December 31, 2012 to consider and approve the proposed amalgamation. The amalgamation agreement will have a date of January 1, 2013.

As of December 12, 2012, shareholders of Jubilee Gold approved the transaction. Micon Gold Inc. signed an amalgamation agreement to acquire Jubilee Gold Inc. in a reverse merger transaction on January 1, 2013. The transaction was approved by shareholders of Ansil Resources Ltd and Micon Gold Inc and TSX Venture Exchange has conditionally approved the merger. TSXV final acceptance is still awaited. As on January 21, 2013, TSXV final acceptance was received. Paul Chamois and Dr. William Roscoe of Roscoe Postle Associates Inc. acted as consultants for Jubilee Gold and were paid CAD 0.0075 million and CAD 0.0085 million respectively as fees.

Micon Gold Inc. completed the acquisition of Jubilee Gold Inc. (TSXV:JUB) in a reverse merger transaction on January 1, 2013.