FOSTERVILLE, AUSTRALIA--(Investorideas.com mining stocks newswire - May 11, 2011) -
Northgate Minerals Corporation (TSX:NGX)(NYSE Amex:NXG) is pleased to announce that our Fosterville Gold Mine produced its half millionth ounce of gold in April 2011. The Fosterville staff marked the occasion with a celebration for this achievement.
"We are very pleased that Fosterville has reached this significant milestone", commented Ian Holland, General Manager, Fosterville Gold Mine. "2011 has already been a great year for the mine, as we are on track to deliver our third straight year of producing 100,000 ounces of gold, highlighted by our highest monthly production ever of 11,000 ounces in March. We are also looking forward to production from our new Harrier orebody, which will contribute to the achievement of our 100,000-ounce annual production forecast for the next few years."
Fosterville joins an elite group of companies who have achieved this milestone in Australia. Northgate's Stawell Gold Mine, also in the state of Victoria, produced its two millionth ounce of gold in March 2010.
The Fosterville Gold mine is located 20 kilometres east of Bendigo, a township of approximately 95,000 people. The mine currently employs over 300 people, including full-time employees and contractors. Bendigo, a historic gold mining centre located 150 km north of Melbourne, is estimated to have produced 22 million ounces of gold following the first discoveries in 1851.
Northgate would like to thank all of the employees at Fosterville for their dedicated teamwork in achieving production of 500,000 ounces of gold.
About Northgate
Northgate Minerals Corporation is a gold and copper producer with mining operations, development projects and exploration properties in Canada and Australia. Our vision is to be the leading intermediate gold producer by identifying, acquiring, developing and operating profitable, long-life mining properties. We have a robust three-year growth profile, targeting 350,000 ounces of gold in 2013.
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Wednesday, May 11, 2011
Mining News; Gold Canyon (TSX VENTURE:GCU)(Closes Bought Deal Private Placement for Gross Proceeds of $10 Million
VANCOUVER, BRITISH COLUMBIA--(Investorideas.com Mining stocks newswire - May 11, 2011) -
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
Gold Canyon Resources Inc. (TSX VENTURE:GCU)(PINK SHEETS:GDCRF) ("Gold Canyon" or "the Company") is pleased to announce that it has closed its previously announced bought deal private placement through a syndicate of underwriters co-led by Cormark Securities Inc. and Fraser Mackenzie Limited and including GMP Securities L.P., Stonecap Securities Inc. and Casimir Capital Ltd. (the "Underwriters") of 1,370,000 flow-through shares of Gold Canyon ("FT Shares") at a price of $3.65 per FT Share and 1,640,000 common shares of Gold Canyon ("Common Shares") at $3.05 per Common Share for aggregate gross proceeds in the amount of approximately $10 million (the "Offering").
The proceeds from the sale of the Common Shares will be used for further exploration and development of the Company's Springpole Gold Project in Ontario and for general corporate purposes.
The proceeds from the sale of the FT Shares will be used to incur Canadian Exploration Expenses (within the meaning of the Income Tax Act (Canada), which will qualify as "flow-through mining expenditures" for purposes of the Income Tax Act (Canada), related to the exploration of the Company's Canadian exploration projects. The Corporation will renounce such Canadian Exploration Expenses with an effective date of no later than December 31, 2011 for federal tax purposes.
The Agents received a cash fee equal to 6% of the gross proceeds from the Offering and that number of broker warrants equal to 6% of the aggregate number of securities sold pursuant to the Offering. Each broker warrant entitles the Underwriters to acquire one common share of the Company at a price of $3.22 per common share for a period of 18 months following the closing date.
The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available.
All securities issued pursuant to the financing will be subject to a four month and one day hold period expiring on September 12, 2011.
About Gold Canyon Resources Inc.:
Gold Canyon is engaged in the acquisition and exploration of mineral and precious metals properties. The Company controls a 100% interest in the Springpole Gold - Horseshoe Island Gold, Platinum, Palladium Project and Favourable Lake Poly-metallic property currently under option to Guyana Frontier Mining Corp. pursuant to an option and joint venture agreement entered into in December 2005 - all in the Red Lake Mining District of Ontario, Canada.
Through its wholly owned U.S. subsidiary, Gold Canyon Resources USA Inc., the Company controls a 100% interest in the Cordero Gallium Project situated in Humboldt County, Nevada, U.S.A.
Gold Canyon entered into a Joint Exploration Agreement with the Japan Oil, Gas and Metals National Corporation (JOGMEC) in January 2009.
Additional information can be found on the Company's website: www.goldcanyon.ca
Akiko Levinson, President & Director
Certain statements contained in this news release using the terms "may", "expects to", "projects", "estimates", "plans", "will", and other terms denoting future possibilities, are forward-looking statements in respect to various issues including the use of proceeds and other upcoming events based upon current expectations which involve risks and uncertainties that could cause actual outcomes and results to differ materially. The future conduct of the Company's business and the feasibility of its mineral exploration properties are dependent upon a number of factors and there can be no assurance that the Company will be able to conduct its operations as contemplated and the accuracy of these statements cannot be guaranteed as they are subject to a variety of risks that are beyond our ability to predict or control and which may cause actual results to differ materially from the projections or estimates contained herein. The risks include, but are not limited to, the risks described in the above press release; those risks set out in the company's disclosure documents and its annual, quarterly and current reports; the fact that exploration activities seldom result in the discovery of a commercially viable mineral resource and also require significant amounts of capital to undertake and the other risks associated with start-up mineral exploration operations with insufficient liquidity, and no historical profitability. The Company disclaims any obligation to revise any forward looking statements as a result of information received after the fact or regarding future events, other than as required under applicable laws.
This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources and reserves, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
Gold Canyon Resources Inc. (TSX VENTURE:GCU)(PINK SHEETS:GDCRF) ("Gold Canyon" or "the Company") is pleased to announce that it has closed its previously announced bought deal private placement through a syndicate of underwriters co-led by Cormark Securities Inc. and Fraser Mackenzie Limited and including GMP Securities L.P., Stonecap Securities Inc. and Casimir Capital Ltd. (the "Underwriters") of 1,370,000 flow-through shares of Gold Canyon ("FT Shares") at a price of $3.65 per FT Share and 1,640,000 common shares of Gold Canyon ("Common Shares") at $3.05 per Common Share for aggregate gross proceeds in the amount of approximately $10 million (the "Offering").
The proceeds from the sale of the Common Shares will be used for further exploration and development of the Company's Springpole Gold Project in Ontario and for general corporate purposes.
The proceeds from the sale of the FT Shares will be used to incur Canadian Exploration Expenses (within the meaning of the Income Tax Act (Canada), which will qualify as "flow-through mining expenditures" for purposes of the Income Tax Act (Canada), related to the exploration of the Company's Canadian exploration projects. The Corporation will renounce such Canadian Exploration Expenses with an effective date of no later than December 31, 2011 for federal tax purposes.
The Agents received a cash fee equal to 6% of the gross proceeds from the Offering and that number of broker warrants equal to 6% of the aggregate number of securities sold pursuant to the Offering. Each broker warrant entitles the Underwriters to acquire one common share of the Company at a price of $3.22 per common share for a period of 18 months following the closing date.
The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States unless registered under the Act or unless an exemption from registration is available.
All securities issued pursuant to the financing will be subject to a four month and one day hold period expiring on September 12, 2011.
About Gold Canyon Resources Inc.:
Gold Canyon is engaged in the acquisition and exploration of mineral and precious metals properties. The Company controls a 100% interest in the Springpole Gold - Horseshoe Island Gold, Platinum, Palladium Project and Favourable Lake Poly-metallic property currently under option to Guyana Frontier Mining Corp. pursuant to an option and joint venture agreement entered into in December 2005 - all in the Red Lake Mining District of Ontario, Canada.
Through its wholly owned U.S. subsidiary, Gold Canyon Resources USA Inc., the Company controls a 100% interest in the Cordero Gallium Project situated in Humboldt County, Nevada, U.S.A.
Gold Canyon entered into a Joint Exploration Agreement with the Japan Oil, Gas and Metals National Corporation (JOGMEC) in January 2009.
Additional information can be found on the Company's website: www.goldcanyon.ca
Akiko Levinson, President & Director
Certain statements contained in this news release using the terms "may", "expects to", "projects", "estimates", "plans", "will", and other terms denoting future possibilities, are forward-looking statements in respect to various issues including the use of proceeds and other upcoming events based upon current expectations which involve risks and uncertainties that could cause actual outcomes and results to differ materially. The future conduct of the Company's business and the feasibility of its mineral exploration properties are dependent upon a number of factors and there can be no assurance that the Company will be able to conduct its operations as contemplated and the accuracy of these statements cannot be guaranteed as they are subject to a variety of risks that are beyond our ability to predict or control and which may cause actual results to differ materially from the projections or estimates contained herein. The risks include, but are not limited to, the risks described in the above press release; those risks set out in the company's disclosure documents and its annual, quarterly and current reports; the fact that exploration activities seldom result in the discovery of a commercially viable mineral resource and also require significant amounts of capital to undertake and the other risks associated with start-up mineral exploration operations with insufficient liquidity, and no historical profitability. The Company disclaims any obligation to revise any forward looking statements as a result of information received after the fact or regarding future events, other than as required under applicable laws.
This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources and reserves, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Published at Investorideas.com
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Golden Share (TSX VENTURE:GSH) Hits a 17 m Quartz Bearing Shear Zone in Malartic Lakeshore Drilling
MONTREAL, QUEBEC--(Investorideas.com mining stocks newswire - May 11, 2011) - Golden Share Mining Corporation ("Golden Share") (TSX VENTURE:GSH) hereby provides an additional update on its 2011 work programs. The 1,200 m diamond drilling program on the Malartic Lakeshore property is now completed and Golden Share is pleased to report the following highlights :
•ML-11-42 – total length 528 m : The hole was a 90m step out from hole ML-09-41 to intersect Zone 66 towards the southeast. A one meter pyrite bearing vein was intersected around 420 m. Zone 66 was reportedly intersected over an 8 m width at the targeted depth from 483.5 to 491.5 m. It displays good shearing with approximately 20% quartz veins up to 30 cm in width and low sulfide content.
•ML-11-43 – total length 513 m : The hole targeted a flexure in the main RLM corridor, one of the SRK Consulting (Canada) Inc. hypotheses to be verified. A 17 m shear zone with quartz veins in excess of 3 m and showing up to 2-3% pyrite, trace chalcopyrite and trace galena was intersected from 231 to 248 m. Schistosity measurements show a very high angle to core axis.
•ML-11-44 – total length 192 m : The hole targeted an IP anomaly associated with a mafic-intermediate volcanic contact. The target was reached and pyrite bearing felsic volcanics and sediments were intersected near the bottom of the hole.
The core is currently being split and assayed.
The technical crew is now preparing for the start-up of the summer season on the Shebandowan project. The program will initially focus on the central part of the property, host of the Pistol Lake and Band Ore inferred and historical resources respectively (see news release dated March 28th 2011). The summer program will consist in very thorough surface work in preparation for drilling later in the season.
Golden Share's exploration programs are executed under the supervision of Mrs. Laurence Huss, M.Sc., P. Geo., a « Qualified Person » as defined in National Instrument 43-101, and Vice-president Exploration of Golden Share. Philippe Giaro, P.Geo., President and CEO of Golden Share and Qualified Person for Golden Share, has reviewed and approved the content of this release.
FOR MORE INFORMATION, CONSULT http://www.goldenshare.ca OR OUR FACEBOOK PAGE AT http://www.facebook.com/people/Golden-Share/100001472712018
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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•ML-11-42 – total length 528 m : The hole was a 90m step out from hole ML-09-41 to intersect Zone 66 towards the southeast. A one meter pyrite bearing vein was intersected around 420 m. Zone 66 was reportedly intersected over an 8 m width at the targeted depth from 483.5 to 491.5 m. It displays good shearing with approximately 20% quartz veins up to 30 cm in width and low sulfide content.
•ML-11-43 – total length 513 m : The hole targeted a flexure in the main RLM corridor, one of the SRK Consulting (Canada) Inc. hypotheses to be verified. A 17 m shear zone with quartz veins in excess of 3 m and showing up to 2-3% pyrite, trace chalcopyrite and trace galena was intersected from 231 to 248 m. Schistosity measurements show a very high angle to core axis.
•ML-11-44 – total length 192 m : The hole targeted an IP anomaly associated with a mafic-intermediate volcanic contact. The target was reached and pyrite bearing felsic volcanics and sediments were intersected near the bottom of the hole.
The core is currently being split and assayed.
The technical crew is now preparing for the start-up of the summer season on the Shebandowan project. The program will initially focus on the central part of the property, host of the Pistol Lake and Band Ore inferred and historical resources respectively (see news release dated March 28th 2011). The summer program will consist in very thorough surface work in preparation for drilling later in the season.
Golden Share's exploration programs are executed under the supervision of Mrs. Laurence Huss, M.Sc., P. Geo., a « Qualified Person » as defined in National Instrument 43-101, and Vice-president Exploration of Golden Share. Philippe Giaro, P.Geo., President and CEO of Golden Share and Qualified Person for Golden Share, has reviewed and approved the content of this release.
FOR MORE INFORMATION, CONSULT http://www.goldenshare.ca OR OUR FACEBOOK PAGE AT http://www.facebook.com/people/Golden-Share/100001472712018
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Published at Investorideas.com
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Solvista Gold Announces Closing of Non-Brokered Private Placement
TORONTO, ONTARIO--(Investorideas.com mining stocks newswire - May 11, 2011) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Solvista Gold Corporation ("Solvista") is pleased to announce, further to its press release dated May 9, 2011, that it has completed its private placement financing (the "Offering") which raised gross proceeds of CDN$2,735,297.
The Offering consisted of the sale of 3,647,063 units (each, a "Unit") at a price of CDN$0.75 per Unit. Each Unit consists of one common share and one-half (½) of one common share purchase warrant (each whole such warrant, a "Warrant"). Each Warrant entitles the holder to acquire an additional common share at a price of CDN$1.10 for a period of 24 months following the closing date of the Offering.
Kinross Gold Corporation (TSX:K)(NYSE:KGC) ("Kinross") purchased all 3,647,063 Units, which represents approximately 9.9% of Solvista's issued and outstanding share capital on a partially diluted basis. Solvista has also granted Kinross the right to maintain its percentage ownership during future financings for a period of two years following completion of the Offering.
Solvista intends to use the net proceeds of the Offering for mineral exploration and working capital purposes.
Listing of Solvista's Common Shares
Further to its press release dated April 27, 2011 announcing the completion of its qualifying transaction with Alpha One Corporation and concurrent private placement financing which raised gross proceeds of $15 million, Solvista's common shares are expected to begin trading on a consolidated basis under the symbol "SVV" on or about May 16, 2011, subject to receipt of final documentation of the TSX-V. Solvista will issue a more comprehensive news release when trading under the new symbol commences.
About Solvista
Solvista is an early-stage exploration company with two gold projects covering approximately 75,000 hectares in the Antioquia province of Colombia. Solvista is well funded and led by a management team with over 45 years of exploration and mining experience, principally in South and Central America. Solvista's head office is located in Toronto with its Colombian headquarters located in Medellín. For further details on Solvista, its management team and its projects, please refer to Solvista's web site (www.solvistagold.com). Solvista's Canadian regulatory filings can be found on SEDAR at www.sedar.com.
CAUTIONARY STATEMENT: This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Solvista's objectives, goals or future plans, the timing and the of completion of the Financing, the receipt of TSX-V approval in respect of the Financing, the timing of the commencement of trading of Solvista's shares on the TSX-V, statements regarding the estimation of mineral resources, exploration results, potential mineralization, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development
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NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Solvista Gold Corporation ("Solvista") is pleased to announce, further to its press release dated May 9, 2011, that it has completed its private placement financing (the "Offering") which raised gross proceeds of CDN$2,735,297.
The Offering consisted of the sale of 3,647,063 units (each, a "Unit") at a price of CDN$0.75 per Unit. Each Unit consists of one common share and one-half (½) of one common share purchase warrant (each whole such warrant, a "Warrant"). Each Warrant entitles the holder to acquire an additional common share at a price of CDN$1.10 for a period of 24 months following the closing date of the Offering.
Kinross Gold Corporation (TSX:K)(NYSE:KGC) ("Kinross") purchased all 3,647,063 Units, which represents approximately 9.9% of Solvista's issued and outstanding share capital on a partially diluted basis. Solvista has also granted Kinross the right to maintain its percentage ownership during future financings for a period of two years following completion of the Offering.
Solvista intends to use the net proceeds of the Offering for mineral exploration and working capital purposes.
Listing of Solvista's Common Shares
Further to its press release dated April 27, 2011 announcing the completion of its qualifying transaction with Alpha One Corporation and concurrent private placement financing which raised gross proceeds of $15 million, Solvista's common shares are expected to begin trading on a consolidated basis under the symbol "SVV" on or about May 16, 2011, subject to receipt of final documentation of the TSX-V. Solvista will issue a more comprehensive news release when trading under the new symbol commences.
About Solvista
Solvista is an early-stage exploration company with two gold projects covering approximately 75,000 hectares in the Antioquia province of Colombia. Solvista is well funded and led by a management team with over 45 years of exploration and mining experience, principally in South and Central America. Solvista's head office is located in Toronto with its Colombian headquarters located in Medellín. For further details on Solvista, its management team and its projects, please refer to Solvista's web site (www.solvistagold.com). Solvista's Canadian regulatory filings can be found on SEDAR at www.sedar.com.
CAUTIONARY STATEMENT: This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Solvista's objectives, goals or future plans, the timing and the of completion of the Financing, the receipt of TSX-V approval in respect of the Financing, the timing of the commencement of trading of Solvista's shares on the TSX-V, statements regarding the estimation of mineral resources, exploration results, potential mineralization, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, failure to convert estimated mineral resources to reserves, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development
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Venerable Ventures (TSX VENTURE:VLV.P) Announces Entry Into Definitive Option Agreement and Filing of Filing Statement and Technical Report for Proposed Qualifying Transaction
VANCOUVER, BRITISH COLUMBIA--(Investorideas.com mining stocks newswire - May 11, 2011) - Venerable Ventures Ltd. ("Venerable" or the "Company") (TSX VENTURE:VLV.P) is pleased to provide this update regarding its proposed qualifying transaction (the "Qualifying Transaction"). Robert Carmichael, Landmark Geological Inc. (collectively, the "Optionors") and the Company have entered into a definitive agreement dated April 26, 2011 (the "Option Agreement"), pursuant to which the Optionors have agreed to grant the Company an option to acquire 100% of their right, title and interest in and to certain mining claims located in the Nechako Plateau Area, Omineca Mining Division, near Vanderhoof, British Columbia known as the Trout claims (the "Property"), subject to satisfaction of certain conditions as set out in the Option Agreement, including receipt of the final approval of the TSX Venture Exchange (the "Exchange"). The terms of the Option Agreement were previously disclosed in a press release of the Company dated December 14, 2010.
Venerable has now received conditional acceptance for the Qualifying Transaction from the Exchange and a filing statement (the "Filing Statement") dated May 5, 2011 regarding the Qualifying Transaction has been filed on SEDAR at www.sedar.com. Venerable has also filed on SEDAR a National Instrument 43-101 ("NI 43-101") compliant technical report with respect to the Property entitled, "Technical Report, Trout Property, Nechako Plateau Area, Omineca Mining Division, Central British Columbia, Canada" written by Erik A. Ostensoe, P.Geo., and dated March 23, 2011 (the "Technical Report"). Mr. Ostensoe is a "qualified person" as defined in NI 43-101 and is independent of Venerable and the Optionors. Excerpts from the Technical Report are included in the Filing Statement.
Closing of the Qualifying Transaction is subject to certain conditions, including the final acceptance of the Exchange. The closing is expected to take place on or about May 18, 2011 or such other date as may be determined by the Company. Trading in the shares of the Resulting Issuer (as defined in Exchange Policy 1.1) is expected to commence two business days after the closing under the name "Venerable Ventures Inc.". The trading symbol of the Company will be "VLV".
Completion of the Qualifying Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance. There can be no assurance that the Qualifying Transaction will be completed as proposed or at all.
The TSX Venture Exchange has in no way passed upon the merits of the proposed Qualifying Transaction and has neither approved nor disapproved the contents of this news release.
ON BEHALF OF THE BOARD
VENERABLE VENTURES INC.
Ryan Sharp, President, Chief Executive Officer and Director
Disclaimer for Forward-Looking Information
Statements in this press release regarding the Company which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as the statement that the closing of the Qualifying Transaction is expected to take place on or about May 18, 2011. Such information can generally be identified by the use of forwarding-looking wording such as "may", "will", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties, such as the risk that the closing of the Qualifying Transaction may not occur for any reason. Actual results could differ materially from those currently anticipated in such statements due to factors including, but not limited to, the Exchange failing to grant final acceptance for the Qualifying Transaction for unforeseen reasons. Except as required by law, the Company does not intend to update any changes to such statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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http://www.gold-miningstocks.com/ and http://www.miningsectorstocks.com/ are research portals within the InvestorIdeas.com content umbrella, featuring industry and stock news, exclusive articles and financial columnists, audio interviews and podcasts, investor conferences, blogs, and a directory of over 1300 mining stocks.
Venerable has now received conditional acceptance for the Qualifying Transaction from the Exchange and a filing statement (the "Filing Statement") dated May 5, 2011 regarding the Qualifying Transaction has been filed on SEDAR at www.sedar.com. Venerable has also filed on SEDAR a National Instrument 43-101 ("NI 43-101") compliant technical report with respect to the Property entitled, "Technical Report, Trout Property, Nechako Plateau Area, Omineca Mining Division, Central British Columbia, Canada" written by Erik A. Ostensoe, P.Geo., and dated March 23, 2011 (the "Technical Report"). Mr. Ostensoe is a "qualified person" as defined in NI 43-101 and is independent of Venerable and the Optionors. Excerpts from the Technical Report are included in the Filing Statement.
Closing of the Qualifying Transaction is subject to certain conditions, including the final acceptance of the Exchange. The closing is expected to take place on or about May 18, 2011 or such other date as may be determined by the Company. Trading in the shares of the Resulting Issuer (as defined in Exchange Policy 1.1) is expected to commence two business days after the closing under the name "Venerable Ventures Inc.". The trading symbol of the Company will be "VLV".
Completion of the Qualifying Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance. There can be no assurance that the Qualifying Transaction will be completed as proposed or at all.
The TSX Venture Exchange has in no way passed upon the merits of the proposed Qualifying Transaction and has neither approved nor disapproved the contents of this news release.
ON BEHALF OF THE BOARD
VENERABLE VENTURES INC.
Ryan Sharp, President, Chief Executive Officer and Director
Disclaimer for Forward-Looking Information
Statements in this press release regarding the Company which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as the statement that the closing of the Qualifying Transaction is expected to take place on or about May 18, 2011. Such information can generally be identified by the use of forwarding-looking wording such as "may", "will", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties, such as the risk that the closing of the Qualifying Transaction may not occur for any reason. Actual results could differ materially from those currently anticipated in such statements due to factors including, but not limited to, the Exchange failing to grant final acceptance for the Qualifying Transaction for unforeseen reasons. Except as required by law, the Company does not intend to update any changes to such statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Published at Investorideas.com
Learn More about the Investorideas.com online Mining Conference
http://www.investorideas.com/MSS/Conference.asp
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Public Company Sign-Up
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About our Mining Portals:
http://www.gold-miningstocks.com/ and http://www.miningsectorstocks.com/ are research portals within the InvestorIdeas.com content umbrella, featuring industry and stock news, exclusive articles and financial columnists, audio interviews and podcasts, investor conferences, blogs, and a directory of over 1300 mining stocks.
Tuesday, May 10, 2011
Online Mining Conference Presenting Mining Stocks ; (TSX: G, NYSE: GG), (TSX.V: CUI), (TSXV: UVR), (TSX-V – YLL), (TSX-V: RUN), (TSX-V: TRM)
Online Investor Conference Presenting Mining Stocks ; (TSX: G, NYSE: GG), (TSX.V: CUI), (TSXV: UVR), (TSX-V – YLL), (TSX-V: RUN), (TSX-V: TRM)
May 10, 2011 - www.Investorideas.com and http://www.smallcapvoice.com/, present this years online mining conference for investors following gold and mining stocks. Investors can register for this free online event to hear from management of well-known mining stocks as well as hear commentary from newsletter writers and industry analysts.
Mining company, Goldcorp (TSX: G, NYSE: GG) will present as the keynote mining stock at online mining conference, Follow the Money in Mining and Metals, May 25th and 26. Presenting mining stocks also include; Currie Rose (TSX.V: CUI) (OTC: CUIRF), Strategic Resources (TSXV: UVR), Yale (TSX-V - YLL and Frankfurt – YAB, Running Fox (TSX-V: RUN) and Trueclaim Exploration Inc. (TSX-V: TRM).
Resource speakers include Mr. Siddharth Rajeev, Of Fundamental Research Corp, Eric Coffin from Hard Rock Analyst, Peter Grandich, Lawrence Roulston and Stephen Whiteside of TheUpTrend.com.
The online conference is free to investors with login registration. The presentations will be an audio format with PowerPoint, averaging 10-15 minutes in length.
The event will be pre-recorded and go live May 25th starting at 9:00 a.m. EST. It will be archived for three months and available with login. The conference pages will be featured for investors at both Investorideas.com and SmallCapvoice.com.
Free Investor Sign-Up
Mining Stocks:
Goldcorp (TSX: G, NYSE: GG)
Goldcorp is the fastest growing, lowest-cost senior gold producer with operations and development projects in politically stable jurisdictions throughout the Americas Vancouver , British Columbia
Contact
Jeff Wilhoit
VP, Investor Relations
(604) 696-3074
info@goldcorp.com
Trueclaim Exploration Inc. (OTCQX: TRMNF) (TSX-V: TRM)
Trueclaim Exploration Inc. is a mineral exploration company. Trueclaim is engaged in the acquisition and development of precious and base metals properties in strategically located areas, currently within Ontario and Arizona.The Company's current principal project is the former Scadding Gold Mine near Sudbury , Ontario
Contact
Jim Elbert
jelbert@trueclaim.ca
www.trueclaimexploration.com
Running Fox (TSX-V: RUN) (US OTC: RFXRF) (FRANKFURT : C8Q)
Running Fox is a Canadian growth-oriented resource company with mineral projects including US
Contact
Steven Schurman
Running Fox Resource Corp.
1 604 725 8868
Yale Resources Ltd. (TSX-V - YLL and Frankfurt - YAB)
Yale Resources Yale Resources Ltd. is an exploration and development company building value utilizing the Project Generator business model. With its Mexican operations based out of Hermosillo , Sonora
Contact
Ian Foreman
info@yaleresources.com
www.yaleresources.com
Currie Rose Resources Inc. (TSX.V: CUI) (OTC: CUIRF)
Currie Rose Resources Inc. is a gold exploration company listed on the Toronto Venture Exchange under the symbol CUI-V, Frankfurt Exchange CDV, and U.S. OTC Market symbol CUIRF. The main focus is the Company's gold exploration projects in The Lake Victoria Gold Fields in Tanzania
IR contact
Harold Smith
harold@currierose.com
Strategic Resources (TSXV: UVR)
Strategic Resources is a Canadian based junior exploration company with uranium/vanadium exploration projects in Catron County , New Mexico , Rare Earth exploration projects in Lincoln County and Socorro County, New Mexico and a Lithium project in Malheur County , Oregon
IR Contact
Malcolm Bucholtz
Supercyclereport@gmail.com
Media sponsors include the Streetwise Reports / Gold Report, mining investor sites Mine Snooper http://www.minesnooper.com/ , International Mining Research Inc (http://www.internationalminingresearch.com/ ) and the investor research magazine, the
Opportunist.
About www.InvestorIdeas.com: Investor Ideas that Can Change the World
Investor Ideas is a global financial media online destination specialized in sector investing content including mining and energy stocks.
About SmallCapVoice.com, Inc.: Specializing in Covering Small Cap Stocks & Providing Small Cap Investor Relations
Recognized corporate investor relations firm SmallCapVoice.com, Inc. is known for its ability to help emerging growth companies build a following among retail and institutional investors.
Disclaimer: Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online advertising. www.InvestorIdeas.com/About/Disclaimer.asp
Disclosure: YLL is also a featured showcase stock on Investorideas.com
For info on presenting as a public company, speaker or media sponsor contact
Cali Van Zant: 800-665-0411 - cvanzant@investorideas.com
Stuart T. Smith CEO
512-267-2430
ssmith@smallcapvoice.com
Source – Investorideas.com, SmallCapVoice.com
More mining stocks info from Investorideas.com and our Gold and Mining Stocks Blog: Visit Investorideas.com leading mining portals - www.gold-miningstocks.com and www.miningsectorstocks.com to get stock news, directories and showcase mining stocks to follow. Gold and mining investors can research stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges. The investorideas.com mining stock directory lists over 1100 publicly traded mining stocks for investors. Preview the directory here : http://www.investorideas.com/Gold_Stocks/Stocks_List.asp
Mining stocks - become a showcase mining stock at www.investorideas.com and see your news and online traction grow immediately for as little as $500 month !
Online Mining Conference, Follow the Money in Mining and Metals, Showcases Well - Known Mining and Gold Stocks as well as Newsletter Writers and Analysts
May 10, 2011 - www.Investorideas.com and www.SmallCapVoice.com, present this years online mining conference for investors following gold and mining stocks. Investors can register for this free online event to hear from management of well-known mining stocks as well as hear commentary from newsletter writers and industry analysts.
Mining company, Goldcorp (TSX: G, NYSE: GG)will present as the keynote mining stock at online mining conference, Follow the Money in Mining and Metals, May 25 th and 26. Presenting mining stocks also include; Currie Rose (TSX.V: CUI) (OTC: CUIRF), Strategic Resources (TSXV: UVR), Yale (TSX-V - YLL and Frankfurt – YAB, Running Fox (TSX-V: RUN) and Trueclaim Exploration Inc. (TSX-V: TRM).
Resource speakers include Mr. Siddharth Rajeev, Of Fundamental Research Corp, Eric Coffin from Hard Rock Analyst, Peter Grandich, Lawrence Roulston and Stephen Whiteside of TheUpTrend.com.
The online conference is free to investors with login registration. The presentations will be an audio format with PowerPoint, averaging 10-15 minutes in length.
The event will be pre-recorded and go live May 25 th starting at 9:00 a.m. EST. It will be archived for three months and available with login. The conference pages will be featured for investors at both Investorideas.com and SmallCapvoice.com.
Learn More about the Mining Conference
http://www.investorideas.com/MSS/Conference.asp
Free Investor Sign-Up
http://www.smallcapvoice.com/ii_scv/investor-signup.html
Public Company Sign-Up
http://www.smallcapvoice.com/ii_scv/company-signup.html
Mining Stocks:
Goldcorp (TSX: G, NYSE: GG)
Goldcorp is the fastest growing, lowest-cost senior gold producer with operations and development projects in politically stable jurisdictions throughout the Americas. Our strong project pipeline is positioned to drive long-term, sustainable growth. A Canadian company headquartered in Vancouver, British Columbia, Goldcorp employs more than 11,500 people worldwide. Goldcorp is committed to responsible mining practices and is well-positioned to deliver sustained, industry leading growth and performance. We endeavor to deliver sustainable prosperity for our shareholders, employees, business partners and the communities in which we operate.
Contact
Jeff Wilhoit
VP, Investor Relations
(604) 696-3074
info@goldcorp.com
www.goldcorp.com
Trueclaim Exploration Inc. (OTCQX: TRMNF) (TSX-V: TRM)
Trueclaim Exploration Inc. is a mineral exploration company. Trueclaim is engaged in the acquisition and development of precious and base metals properties in strategically located areas, currently within Ontario and Arizona.The Company's current principal project is the former Scadding Gold Mine near Sudbury, Ontario. The Scadding claims are part of approximately 45,000 acres the Company has assembled in this area.
Contact
Jim Elbert
jelbert@trueclaim.ca
www.trueclaimexploration.com
Running Fox (TSX-V: RUN) (US OTC: RFXRF) (FRANKFURT: C8Q)
Running Fox is a Canadian growth-oriented resource company with mineral projects including US uranium and Canadian gold properties, oil and gas assets, and oilfield service operations.
Contact
Steven Schurman
Running Fox Resource Corp.
1 604 725 8868
www.foxgold.ca
Yale Resources Ltd. (TSX-V - YLL and Frankfurt - YAB)
Yale Resources Yale Resources Ltd. is an exploration and development company building value utilizing the Project Generator business model. With its Mexican operations based out of Hermosillo, Sonora, Yale is utilizing its extensive Mexican network to identify, acquire and advance projects of merit. Yale's partners are scheduled to spend greater than $1,000,000 on exploration on the Company's properties over the next 12 months.
Contact
Ian Foreman
info@yaleresources.com
www.yaleresources.com
Currie Rose Resources Inc. (TSX.V: CUI) (OTC: CUIRF)
Currie Rose Resources Inc. is a gold exploration company listed on the Toronto Venture Exchange under the symbol CUI-V, Frankfurt Exchange CDV, and U.S. OTC Market symbol CUIRF. The main focus is the Company's gold exploration projects in The Lake Victoria Gold Fields in Tanzania
IR contact
Harold Smith
harold@currierose.com
www.currierose.com
Strategic Resources (TSXV: UVR)
Strategic Resources is a Canadian based junior exploration company with uranium/vanadium exploration projects in Catron County, New Mexico, Rare Earth exploration projects in Lincoln County and Socorro County, New Mexico and a Lithium project in Malheur County, Oregon.
www.strategicresourcesinc.ca
IR Contact
Malcolm Bucholtz
Supercyclereport@gmail.comSupercyclereport@gmail.com
Media sponsors include the Streetwise Reports / Gold Report, mining investor sites Mine Snooper www.minesnooper.com , International Mining Research Inc (www.internationalminingresearch.com ) and the investor research magazine, the Opportunist.
About www.InvestorIdeas.com: Investor Ideas that Can Change the World
Investor Ideas is a global financial media online destination specialized in sector investing content including mining and energystocks
.
About SmallCapVoice.com, Inc.: Specializing in Covering Small Cap Stocks & Providing Small Cap Investor Relations
Recognized corporate investor relations firm SmallCapVoice.com, Inc. is known for its ability to help emerging growth companies build a following among retail and institutional investors.
Disclaimer: Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and onlineadvertising . www.InvestorIdeas.com/About/Disclaimer.asp
Disclosure: YLL is also a featured showcase stock on Investorideas.com
Learn more: http://www.investorideas.com/About/News/Clientspecifics.asp
For info on presenting as a public company, speaker or media sponsor contact
Cali Van Zant: 800-665-0411 - cvanzant@investorideas.com
Stuart T. Smith CEO
512-267-2430
ssmith@smallcapvoice.com
Source - Investorideas.com, SmallCapVoice.com
Mining company, Goldcorp (TSX: G, NYSE: GG)will present as the keynote mining stock at online mining conference, Follow the Money in Mining and Metals, May 25 th and 26. Presenting mining stocks also include; Currie Rose (TSX.V: CUI) (OTC: CUIRF), Strategic Resources (TSXV: UVR), Yale (TSX-V - YLL and Frankfurt – YAB, Running Fox (TSX-V: RUN) and Trueclaim Exploration Inc. (TSX-V: TRM).
Resource speakers include Mr. Siddharth Rajeev, Of Fundamental Research Corp, Eric Coffin from Hard Rock Analyst, Peter Grandich, Lawrence Roulston and Stephen Whiteside of TheUpTrend.com.
The online conference is free to investors with login registration. The presentations will be an audio format with PowerPoint, averaging 10-15 minutes in length.
The event will be pre-recorded and go live May 25 th starting at 9:00 a.m. EST. It will be archived for three months and available with login. The conference pages will be featured for investors at both Investorideas.com and SmallCapvoice.com.
Learn More about the Mining Conference
http://www.investorideas.com/MSS/Conference.asp
Free Investor Sign-Up
http://www.smallcapvoice.com/ii_scv/investor-signup.html
Public Company Sign-Up
http://www.smallcapvoice.com/ii_scv/company-signup.html
Mining Stocks:
Goldcorp (TSX: G, NYSE: GG)
Goldcorp is the fastest growing, lowest-cost senior gold producer with operations and development projects in politically stable jurisdictions throughout the Americas. Our strong project pipeline is positioned to drive long-term, sustainable growth. A Canadian company headquartered in Vancouver, British Columbia, Goldcorp employs more than 11,500 people worldwide. Goldcorp is committed to responsible mining practices and is well-positioned to deliver sustained, industry leading growth and performance. We endeavor to deliver sustainable prosperity for our shareholders, employees, business partners and the communities in which we operate.
Contact
Jeff Wilhoit
VP, Investor Relations
(604) 696-3074
info@goldcorp.com
www.goldcorp.com
Trueclaim Exploration Inc. (OTCQX: TRMNF) (TSX-V: TRM)
Trueclaim Exploration Inc. is a mineral exploration company. Trueclaim is engaged in the acquisition and development of precious and base metals properties in strategically located areas, currently within Ontario and Arizona.The Company's current principal project is the former Scadding Gold Mine near Sudbury, Ontario. The Scadding claims are part of approximately 45,000 acres the Company has assembled in this area.
Contact
Jim Elbert
jelbert@trueclaim.ca
www.trueclaimexploration.com
Running Fox (TSX-V: RUN) (US OTC: RFXRF) (FRANKFURT: C8Q)
Running Fox is a Canadian growth-oriented resource company with mineral projects including US uranium and Canadian gold properties, oil and gas assets, and oilfield service operations.
Contact
Steven Schurman
Running Fox Resource Corp.
1 604 725 8868
www.foxgold.ca
Yale Resources Ltd. (TSX-V - YLL and Frankfurt - YAB)
Yale Resources Yale Resources Ltd. is an exploration and development company building value utilizing the Project Generator business model. With its Mexican operations based out of Hermosillo, Sonora, Yale is utilizing its extensive Mexican network to identify, acquire and advance projects of merit. Yale's partners are scheduled to spend greater than $1,000,000 on exploration on the Company's properties over the next 12 months.
Contact
Ian Foreman
info@yaleresources.com
www.yaleresources.com
Currie Rose Resources Inc. (TSX.V: CUI) (OTC: CUIRF)
Currie Rose Resources Inc. is a gold exploration company listed on the Toronto Venture Exchange under the symbol CUI-V, Frankfurt Exchange CDV, and U.S. OTC Market symbol CUIRF. The main focus is the Company's gold exploration projects in The Lake Victoria Gold Fields in Tanzania
IR contact
Harold Smith
harold@currierose.com
www.currierose.com
Strategic Resources (TSXV: UVR)
Strategic Resources is a Canadian based junior exploration company with uranium/vanadium exploration projects in Catron County, New Mexico, Rare Earth exploration projects in Lincoln County and Socorro County, New Mexico and a Lithium project in Malheur County, Oregon.
www.strategicresourcesinc.ca
IR Contact
Malcolm Bucholtz
Supercyclereport@gmail.comSupercyclereport@gmail.com
Media sponsors include the Streetwise Reports / Gold Report, mining investor sites Mine Snooper www.minesnooper.com , International Mining Research Inc (www.internationalminingresearch.com ) and the investor research magazine, the Opportunist.
About www.InvestorIdeas.com: Investor Ideas that Can Change the World
Investor Ideas is a global financial media online destination specialized in sector investing content including mining and energy
About SmallCapVoice.com, Inc.: Specializing in Covering Small Cap Stocks & Providing Small Cap Investor Relations
Recognized corporate investor relations firm SmallCapVoice.com, Inc. is known for its ability to help emerging growth companies build a following among retail and institutional investors.
Disclaimer: Our sites do not make recommendations. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. We attempt to research thoroughly, but we offer no guarantees as to the accuracy of information presented. All Information relating to featured companies is sourced from public documents and/ or the company and is not the opinion of our web sites. This site is currently compensated by featured companies, news submissions and online
Disclosure: YLL is also a featured showcase stock on Investorideas.com
Learn more: http://www.investorideas.com/About/News/Clientspecifics.asp
For info on presenting as a public company, speaker or media sponsor contact
Cali Van Zant: 800-665-0411 - cvanzant@investorideas.com
Stuart T. Smith CEO
512-267-2430
ssmith@smallcapvoice.com
Source - Investorideas.com, SmallCapVoice.com
Rare Earth Mining Stocks; Cavan (TSX.V-CVN), Enters LOI for Acquisition of Quebec Rare Earth Project, Proposed $1.5 Million and $1.0 Million Flow-through Financing
Vancouver, British Columbia, CANADA - May 10, 2011 (Investorideas.com Mining stocks newswire) - Cavan Ventures Inc. (TSX.V-CVN), (http://www.cavanventures.com) (the "Company") is pleased to announce it has entered into a non-binding Letter Of Intent ("LOI") with Investissements Horizon Inc. ("IHI") of Quebec, to acquire from IHI up to one hundred percent (100%) interest in the Pythonga Lake Rare Earth project ("Pythonga") in the Maniwaki region in the province of Quebec. The 8.3km2 Pythonga lake project is comprised of 14 mining claims and is situated 180km northwest of Montreal in the Maniwaki region. The Maniwaki region has recently seen a great deal of exploration activity associated with rare earth elements discoveries.
Cavan will immediately commence a due diligence review of the project. Upon successful completion of the due diligence review the parties will proceed to enter into and execute a definitive agreement with respect to the acquisition by Cavan of up to 100 % interest in the Pythonga project. Cavan will issue a news release to provide an update to its shareholders in connection with the execution of the definitive agreement. The proposed terms to purchase a seventy percent (70%) interest of the property is cash payment of $50,000 and 2,000,000 common shares of Company stock to IHI. Cavan also agrees to spend $500,000 for an exploration program on the property over 2 years. Cavan can issue an additional 3,000,000 shares of Company stock to purchase the remaining thirty percent (30%) of the Pythonga project for a total one hundred percent (100%) interest.
Completion of the transaction is subject to a number of conditions, including TSX Venture Exchange acceptance and, if required, shareholder approval. There can be no assurance that the transaction will be completed as proposed or at all.
Cavan intends to complete a non-brokered private placement of up to 7.5 million units to subscribers to residents in Canada and certain offshore jurisdictions at a price of 20 cents ($0.20) per unit for gross proceeds of up to $1,500,000. Each unit will comprise one common share of the company and one-half of one non-transferable warrant of the company. Each whole warrant will entitle the holder thereof to acquire one common share of the company at an exercise price of 25 cents ($0.25) per common share for a period of 18 months after the closing date of the private placement.
Cavan also intends to complete a non-brokered private placement of up to 4 million flow-through units at a price of 25 cents ($0.25) per unit for gross proceeds of up to $1,000,000. Each unit will comprise one flow-through common share of the company and one-half of one non-transferable warrant of the company. Each whole warrant will entitle the holder thereof to acquire one non flow-though common share of the company at an exercise price of 30 cents ($0.30) per common share for a period of 18 months after the closing date of the private placement.
In connection with the private placement, The Company may pay a finder's fee, payable in cash or shares, to certain arm's-length parties in an amount equal to 8 per cent of the total gross proceeds raised under the private placement from subscribers introduced to the company by such parties.
The securities issued under the private placement will be subject to a statutory hold period which will expire four months and one day from the date of the closing of the private placement. The private placement is subject to acceptance by the TSX Venture Exchange and other customary conditions for a transaction of this nature. The proceeds of the private placement will be used for mineral exploration activities of the company and for general working capital purposes.
On behalf of the Board of Directors:
"Andrew Mah"
Andrew Mah, President & Director
(604)783 5328 (cell) or (604)288 2756
andrew.mah@cavanventures.com
or
Patrick Brandreth
Director, Corporate communication: (604) 808 3527
patrick@cavanventures.com
For further information please visit our website at www.cavanventures.com
This news release contains certain forward-looking statements that reflect the current views and/or expectations of Cavan with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cavan will immediately commence a due diligence review of the project. Upon successful completion of the due diligence review the parties will proceed to enter into and execute a definitive agreement with respect to the acquisition by Cavan of up to 100 % interest in the Pythonga project. Cavan will issue a news release to provide an update to its shareholders in connection with the execution of the definitive agreement. The proposed terms to purchase a seventy percent (70%) interest of the property is cash payment of $50,000 and 2,000,000 common shares of Company stock to IHI. Cavan also agrees to spend $500,000 for an exploration program on the property over 2 years. Cavan can issue an additional 3,000,000 shares of Company stock to purchase the remaining thirty percent (30%) of the Pythonga project for a total one hundred percent (100%) interest.
Completion of the transaction is subject to a number of conditions, including TSX Venture Exchange acceptance and, if required, shareholder approval. There can be no assurance that the transaction will be completed as proposed or at all.
Cavan intends to complete a non-brokered private placement of up to 7.5 million units to subscribers to residents in Canada and certain offshore jurisdictions at a price of 20 cents ($0.20) per unit for gross proceeds of up to $1,500,000. Each unit will comprise one common share of the company and one-half of one non-transferable warrant of the company. Each whole warrant will entitle the holder thereof to acquire one common share of the company at an exercise price of 25 cents ($0.25) per common share for a period of 18 months after the closing date of the private placement.
Cavan also intends to complete a non-brokered private placement of up to 4 million flow-through units at a price of 25 cents ($0.25) per unit for gross proceeds of up to $1,000,000. Each unit will comprise one flow-through common share of the company and one-half of one non-transferable warrant of the company. Each whole warrant will entitle the holder thereof to acquire one non flow-though common share of the company at an exercise price of 30 cents ($0.30) per common share for a period of 18 months after the closing date of the private placement.
In connection with the private placement, The Company may pay a finder's fee, payable in cash or shares, to certain arm's-length parties in an amount equal to 8 per cent of the total gross proceeds raised under the private placement from subscribers introduced to the company by such parties.
The securities issued under the private placement will be subject to a statutory hold period which will expire four months and one day from the date of the closing of the private placement. The private placement is subject to acceptance by the TSX Venture Exchange and other customary conditions for a transaction of this nature. The proceeds of the private placement will be used for mineral exploration activities of the company and for general working capital purposes.
On behalf of the Board of Directors:
"Andrew Mah"
Andrew Mah, President & Director
(604)783 5328 (cell) or (604)288 2756
andrew.mah@cavanventures.com
or
Patrick Brandreth
Director, Corporate communication: (604) 808 3527
patrick@cavanventures.com
For further information please visit our website at www.cavanventures.com
This news release contains certain forward-looking statements that reflect the current views and/or expectations of Cavan with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Monday, May 09, 2011
Investorideas.com invites investors trading gold and mining stocks to become a Facebook.com Fan and receive a free mining stocks directory Investors can also Register for free online mining conference, Follow the Money in Mining and Metals
POINT ROBERTS, Wash. - May 9, 2011 (Investorideas.com Mining stocks newswire) www.InvestorIdeas.com, a global investor research portal, specializing in sector research, including mining and gold stocks invites investors to join us on Facebook.com and get a free mining stocks directory, with over 1300 listed gold and mining stocks ($29.95 value) . The directories are part of the comprehensive investor research tools Investorideas.com offers to independent investors.
The stock directories are just one of the tools to help investors in the mining sector. This month, Investorideas.com and Smallcapvoice.com are hosting the online mining conference, Follow the Money in Mining and Metals, May 25th and 26. The online conference is free to investors with login registration.
Free Investor Sign-Up -http://www.smallcapvoice.com/ii_scv/investor-signup.html
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About our mining stocks directory:
Mining and Gold Stocks Directory - Global Mining and Gold Stocks Directory in PDF format lists over 1300 publicly traded mining companies. Mining and metals investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges. directory features hyperlinks to stocks symbol(s), company’s URL and company’s description.
Email us at dawn@investorideas.com and let us know you have become a fan and we will email you the PDF free!
More mining stocks research - free online investor conference
Follow the Money in Mining and Metals, May 25th and 26.
The online conference is free to investors with login registration. The presentations will be an audio format with PowerPoint, averaging 10-15 minutes in length.
The event will be pre-recorded and go live May 25th starting at 9:00 a.m. EST. It will be archived for three months and available with login. The conference pages will be featured for investors at both Investorideas.com and SmallCapvoice.com.
Resource speakers include Mr. Siddharth Rajeev, Of Fundamental Research Corp, Eric Coffin from Hard Rock Analyst, Peter Grandich, Lawrence Roulston and Stephen Whiteside of TheUpTrend.com.
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The stock directories are just one of the tools to help investors in the mining sector. This month, Investorideas.com and Smallcapvoice.com are hosting the online mining conference, Follow the Money in Mining and Metals, May 25th and 26. The online conference is free to investors with login registration.
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The online conference is free to investors with login registration. The presentations will be an audio format with PowerPoint, averaging 10-15 minutes in length.
The event will be pre-recorded and go live May 25th starting at 9:00 a.m. EST. It will be archived for three months and available with login. The conference pages will be featured for investors at both Investorideas.com and SmallCapvoice.com.
Resource speakers include Mr. Siddharth Rajeev, Of Fundamental Research Corp, Eric Coffin from Hard Rock Analyst, Peter Grandich, Lawrence Roulston and Stephen Whiteside of TheUpTrend.com.
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Mining Stocks; Lucky Strike (TSX-V:LKY) Terminates Changyun Project, Clarifies Changyun and Nkak Coal Project Disclosures
VANCOUVER, BRITISH COLUMBIA, CANADA - May 9, 2011 (Investorideas.com Newswire) - Lucky Strike Resources Ltd. (TSX-V:LKY) (the "Company" or "Lucky Strike"), advises that it has terminated the Letter of Intent to acquire an interest in the Changyun project as a result of the Company's inability to resolve certain due diligence issues, negotiate a formal definitive agreement, secure financial and technical control of the project, and obtain sufficient and acceptable security in order to advance further funding for the Changyun project. Today, May 6th, the Company formally advised Cheung Wan (Groups) Energy Development Limited ("Cheung Wan") of the termination of the Company's rights under the Letter of Intent announced on October 29, 2010, given the difficulties to date and the requirement for the technical report whi! ch would not be fulfilled in the short term without the cooperation of Cheung Wan. Consequently, Lucky Strike wishes to focus on more favorable projects.
As a result of a review by the British Columbia Securities Commission, the Company is issuing the following news release to clarify disclosure regarding the Changyun coal project in the People's Republic ofChina , and the NKAK coal and transportation project in Mongolia.
Clarification of Changyun Disclosure
The July 10, 2010, report titled 'Technical Report on the Changyun Coal Mine', filed on SEDAR on December 3, 2010 (the Report), is not compliant with National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) as stated in the Summary (paragraph 4) and Section 5.1 (paragraph 1) of the Report: 'This report is not compliant with NI 43-101 and SEC Guide No 7.' The Report was based on technical work carried out by the 113th Geological Team of Guizhou Province and reviewed by the 105th Geological Team of the Guizhou Province in China. This technical work follows the Chinese resource estimation standards which differ from the NI 43-101 standards and, Chinese data and estimates require verification and conversion to NI 43-101 definitions before they can be relied on to conduct and disclose any economic analysis as defined in NI 43-101.
It was the intention of Lucky Strike to complete the Definitive Agreement and carry out a drill and study program to provide a NI 43-101 compliant report as announced in the Company's news release dated December 6th, 2010, about retaining Wardrop to perform the technical services. Without a Definitive Agreement signed by both parties, a lack of access to the property prevents the implementation of the drilling program and subsequent completion of a NI 43-101 Technical Report.
The preliminary assessment (PA) presented in the Report is preliminary in nature. It used non-compliant 'inferred mineral resources' in the Report, which the company did not verify as current coal resources, and which are not suitable for use in a PA as defined in NI 43-101. If validated, current inferred resources are too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that a PA using inferred resources will be realized.
The Company retracts the inferred resource and PA in the Report, on its previous website, in investor materials, and in an 'Emerging Growth Stocks' reprint on its previous website.
Former management made the first deposit amount of $150,000 on August 9, 2010, as announced on the August 10, 2010, news release. A second deposit of US $150,000 was announced on the October 29, 2010, news release. The total deposit today is $300,000.
Lucky Strike has sought legal advice to have its $300,000 refundable deposit returned and is considering the cost of pursuing the deposit funds.
No finder's fees pursuant to the signing of the 80% LOI were paid out.
The NKAK Project, Mongolia
The company clarifies that indications of 'near-term cash flow' and 'coal revenue' in its Stockwatch eblast and in Infostock dated April 27, 2011, do not pertain to the NKAK Property, which is an exploration stage property without a defined resource, and where the quality and quantity of coal is yet to be determined. A reconnaissance survey in July 2010 resulted only in the delineation of coal occurrences, and this data is not sufficient to complete a NI 43-101 technical report. The delineation of coal occurrences should not be relied on until they are independently verified and supported by a technical report.
In the event the company receives a coal resource estimate that is a material change to its affairs, it will promptly disclose the results and file a supporting technical report as required by NI 43-101.
Coal Transportation
The company also clarifies information about transport contracts for one million tonnes coal/year indicated by the Stockwatch eblast and Infostock. Before additional exploration determines suitable quality and quantities of coal at NKAK and a relevant economic analysis is prepared, there can be no certainty that any quantities of coal suitable for transport may be available on the NKAK property.
Pursuant to the Letter Agreement announced on April 27, 2011, the Representative has agreed to use its reasonable commercial efforts to secure and assign transportation contracts to the JV Company for the transportation of a minimum of one million tonnes of coal per annum ('tpy') from Mongolia to China within the first three years of operation. The Representative's affiliate company holds a transportation licence and contract and has transported 500,000 tonnes of coking coal from Tavan Tolgoi to Tsagaan Had, a reloading station, through the Gashuun Suhait Mongolian-Chinese border to the finaldestination of Gants Mod in China. The Company anticipates that these contracts may provide revenue while it completes exploration on the property and, if successful, would provide means to deliver the coal directly to the market.
Financial Terms
In order to acquire up to a 75% ownership interest in the JV Company, Lucky Strike is required to: (a) make a non-refundable payment of US $300,000 to the Representative upon execution of the Letter Agreement; (b) make US $600,000 in cash payments to the Representative over a three year period of which US$500,000 is payable upon receipt of TSXV approval, US$50,000 is payable on the first year anniversary of the approval date and US$25,000 is payable on both the second and third anniversary of the approval date; and (c) complete a minimum of US$8 million in exploration and development expenditures over a three year period of which US$1 million to be spent by the first year anniversary of the approval date, US$2 million to be spent by the second year anniversary of the approval date and US$5 million to be spent by the third year anniversary of the approval date. The acquisition is subject to completion of legal and technical due diligence and acceptance by the TSX Venture Exc! hange.
Finder's fees may be paid, and will be in accordance with TSX Venture Exchange policies, and is subject to the approval of the regulatory authorities.
Property Review
Lucky Strike signed a letter agreement (the 'Letter Agreement') with a private Mongolian company (the 'Representative') that represents the owner of two exploration licenses covering an area of 8,736 hectares 3 km west of the Olonbulag coking coal deposits in the aimag of Hovd in southwest Mongolia. The properties are known as the Nariin Khargait and Ar Khadnii Ovoo coal properties (the 'NKAK Properties'). Under the terms of the Letter Agreement, the NKAK Properties will be assigned into a joint venture company ('the JV Company'). Lucky Strike can earn a 75% ownership interest in the JV Company.
Edwin Ullmer, P. Geo., a Qualified Person as defined by National Instruments 43-101, has read and approved the technical information in this news release.
Christian Derosier, P. Geo., M.Sc., D.Sc., a Qualified Person as defined by National Instruments 43-101, has read and approved the technical information in this news release.
Updates on the Projects
The Company has elected to terminate its interest in acquiring the Changyun project as it has not been able to come to agreeable terms in a definitive agreement with the Vendor. Therefore, Lucky Strike is now focusing on completing the due diligence on the coal transportation and NKAK exploration project in Mongolia. Furthermore, the Company is concurrently continuing to investigate other potential property acquisitions and will provide further updates as and when the Company enters into any agreements with respect to same.
On behalf of Management,
Lucky Strike Resources Ltd.
'Cathy Fong'
Cathy Fong, Chairman & CEO, Director
Further Information
For further information relating to the Company or this release please visit the Lucky Strike Resource website at www.luckstrikeresources or contact Investor Relations at 604-360-8199 www.luckystrikeresources.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the UnitedStates Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange C! ommission.
The above forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) the risk that the Company does not execute its business plan, (2) inability to finance operations and growth, (3) inability to obtain all necessary environmental and regulatory approvals, and (4) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
Twitter: www.twitter.com/luckystrike
Facebook: www.facebook.com/luckystrikepr
As a result of a review by the British Columbia Securities Commission, the Company is issuing the following news release to clarify disclosure regarding the Changyun coal project in the People's Republic of
Clarification of Changyun Disclosure
The July 10, 2010, report titled 'Technical Report on the Changyun Coal Mine', filed on SEDAR on December 3, 2010 (the Report), is not compliant with National Instrument 43-101 Standards of Disclosure for Mineral Projects (NI 43-101) as stated in the Summary (paragraph 4) and Section 5.1 (paragraph 1) of the Report: 'This report is not compliant with NI 43-101 and SEC Guide No 7.' The Report was based on technical work carried out by the 113th Geological Team of Guizhou Province and reviewed by the 105th Geological Team of the Guizhou Province in China. This technical work follows the Chinese resource estimation standards which differ from the NI 43-101 standards and, Chinese data and estimates require verification and conversion to NI 43-101 definitions before they can be relied on to conduct and disclose any economic analysis as defined in NI 43-101.
It was the intention of Lucky Strike to complete the Definitive Agreement and carry out a drill and study program to provide a NI 43-101 compliant report as announced in the Company's news release dated December 6th, 2010, about retaining Wardrop to perform the technical services. Without a Definitive Agreement signed by both parties, a lack of access to the property prevents the implementation of the drilling program and subsequent completion of a NI 43-101 Technical Report.
The preliminary assessment (PA) presented in the Report is preliminary in nature. It used non-compliant 'inferred mineral resources' in the Report, which the company did not verify as current coal resources, and which are not suitable for use in a PA as defined in NI 43-101. If validated, current inferred resources are too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that a PA using inferred resources will be realized.
The Company retracts the inferred resource and PA in the Report, on its previous website, in investor materials, and in an 'Emerging Growth Stocks' reprint on its previous website.
Former management made the first deposit amount of $150,000 on August 9, 2010, as announced on the August 10, 2010, news release. A second deposit of US $150,000 was announced on the October 29, 2010, news release. The total deposit today is $300,000.
Lucky Strike has sought legal advice to have its $300,000 refundable deposit returned and is considering the cost of pursuing the deposit funds.
No finder's fees pursuant to the signing of the 80% LOI were paid out.
The NKAK Project, Mongolia
The company clarifies that indications of 'near-term cash flow' and 'coal revenue' in its Stockwatch eblast and in Infostock dated April 27, 2011, do not pertain to the NKAK Property, which is an exploration stage property without a defined resource, and where the quality and quantity of coal is yet to be determined. A reconnaissance survey in July 2010 resulted only in the delineation of coal occurrences, and this data is not sufficient to complete a NI 43-101 technical report. The delineation of coal occurrences should not be relied on until they are independently verified and supported by a technical report.
In the event the company receives a coal resource estimate that is a material change to its affairs, it will promptly disclose the results and file a supporting technical report as required by NI 43-101.
Coal Transportation
The company also clarifies information about transport contracts for one million tonnes coal/year indicated by the Stockwatch eblast and Infostock. Before additional exploration determines suitable quality and quantities of coal at NKAK and a relevant economic analysis is prepared, there can be no certainty that any quantities of coal suitable for transport may be available on the NKAK property.
Pursuant to the Letter Agreement announced on April 27, 2011, the Representative has agreed to use its reasonable commercial efforts to secure and assign transportation contracts to the JV Company for the transportation of a minimum of one million tonnes of coal per annum ('tpy') from Mongolia to China within the first three years of operation. The Representative's affiliate company holds a transportation licence and contract and has transported 500,000 tonnes of coking coal from Tavan Tolgoi to Tsagaan Had, a reloading station, through the Gashuun Suhait Mongolian-Chinese border to the final
Financial Terms
In order to acquire up to a 75% ownership interest in the JV Company, Lucky Strike is required to: (a) make a non-refundable payment of US $300,000 to the Representative upon execution of the Letter Agreement; (b) make US $600,000 in cash payments to the Representative over a three year period of which US$500,000 is payable upon receipt of TSXV approval, US$50,000 is payable on the first year anniversary of the approval date and US$25,000 is payable on both the second and third anniversary of the approval date; and (c) complete a minimum of US$8 million in exploration and development expenditures over a three year period of which US$1 million to be spent by the first year anniversary of the approval date, US$2 million to be spent by the second year anniversary of the approval date and US$5 million to be spent by the third year anniversary of the approval date. The acquisition is subject to completion of legal and technical due diligence and acceptance by the TSX Venture Exc! hange.
Finder's fees may be paid, and will be in accordance with TSX Venture Exchange policies, and is subject to the approval of the regulatory authorities.
Property Review
Lucky Strike signed a letter agreement (the 'Letter Agreement') with a private Mongolian company (the 'Representative') that represents the owner of two exploration licenses covering an area of 8,736 hectares 3 km west of the Olonbulag coking coal deposits in the aimag of Hovd in southwest Mongolia. The properties are known as the Nariin Khargait and Ar Khadnii Ovoo coal properties (the 'NKAK Properties'). Under the terms of the Letter Agreement, the NKAK Properties will be assigned into a joint venture company ('the JV Company'). Lucky Strike can earn a 75% ownership interest in the JV Company.
Edwin Ullmer, P. Geo., a Qualified Person as defined by National Instruments 43-101, has read and approved the technical information in this news release.
Christian Derosier, P. Geo., M.Sc., D.Sc., a Qualified Person as defined by National Instruments 43-101, has read and approved the technical information in this news release.
Updates on the Projects
The Company has elected to terminate its interest in acquiring the Changyun project as it has not been able to come to agreeable terms in a definitive agreement with the Vendor. Therefore, Lucky Strike is now focusing on completing the due diligence on the coal transportation and NKAK exploration project in Mongolia. Furthermore, the Company is concurrently continuing to investigate other potential property acquisitions and will provide further updates as and when the Company enters into any agreements with respect to same.
On behalf of Management,
Lucky Strike Resources Ltd.
'Cathy Fong'
Cathy Fong, Chairman & CEO, Director
Further Information
For further information relating to the Company or this release please visit the Lucky Strike Resource website at www.luckstrikeresources or contact Investor Relations at 604-360-8199 www.luckystrikeresources.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United
The above forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) the risk that the Company does not execute its business plan, (2) inability to finance operations and growth, (3) inability to obtain all necessary environmental and regulatory approvals, and (4) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
Twitter: www.twitter.com/luckystrike
Facebook: www.facebook.com/luckystrikepr
Sunday, May 08, 2011
Investorideas.com invites mining and gold investors to become a Fan on Facebook.com and receive a mining stocks directory free ( $29.95 Value )
Investorideas.com invites mining and gold investors to become a Fan on Facebook.com and receive a mining stocks directory free ( $29.95 Value )
Investorideas.com invites investors to join us on Facebook.coom and the first 25 fans get a free mining stocks directory for free emailed to them in PDF format ( $29.95 value)
Offer limited to first 25 new fans
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Investorideas.com invites investors to join us on Facebook.coom and the first 25 fans get a free mining stocks directory for free emailed to them in PDF format ( $29.95 value)
Mining and Gold Stocks Directory - Global Mining and Gold Stocks Directory in PDF format lists over 1300 publicly traded mining companies. Mining and metals investors can research gold and mining stocks with the mining stocks directory, featuring Gold Stocks, Silver Stocks, Uranium Stocks, Copper Stocks, Zinc Stocks and Precious Metals TSX, TSX Venture, OTC, NASDAQ, AMEX, NYSE, ASX, AIM and other leading Stock Exchanges. directory features hyperlinks to stocks symbol(s), company’s URL and company’s description.
- Just email us at dawn@investorideas.com and let us know you have become a fan and we will email you the PDF free! Investor Ideas members get access to the most comprehensive stock directories online with 24/7 login access to water stocks, renewable energy stocks and more.
Learn more: http://www.investorideas.com/membership/
800-665-0411 - dvanzant@investorideas.com
Source – Investorideas.com
More mining stocks research - free online investor conference
Follow the Money in Mining and Metals, May 25th and 26.
The online conference is free to investors with login registration. The presentations will be an audio format with PowerPoint, averaging 10-15 minutes in length.
The event will be pre-recorded and go live May 25th starting at 9:00 a.m. EST. It will be archived for three months and available with login. The conference pages will be featured for investors at both Investorideas.com and SmallCapvoice.com.
Resource speakers include Mr. Siddharth Rajeev, Of Fundamental Research Corp, Eric Coffin from Hard Rock Analyst, Peter Grandich, Lawrence Roulston and Stephen Whiteside of TheUpTrend.com.
Free Investor Sign-Up
About our Mining Portals:
http://www.gold-miningstocks.com/ and http://www.miningsectorstocks.com/ are research portals within the InvestorIdeas.com content umbrella, featuring industry and stock news, exclusive articles and financial columnists, audio interviews and podcasts, investor conferences, blogs, and a directory of over 1300 mining stocks.
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Offer limited to first 25 new fans
Friday, May 06, 2011
Cavan Ventures Inc. (TSX.V: CVN) Announces Crown King Silver Option Of Arizona With Q-Gold Resources Ltd.
Vancouver, British Columbia, CANADA - May 6, 2011 (Investorideas.com Newswire) - Cavan Ventures Inc. (TSX.V-CVN), (http://www.cavanventures.com) (the 'Company') is pleased to announce it has entered into a Mining Option Agreement with Q-Gold Resources Ltd. (TSX.V-QGR) ('Q-Gold') (http://www.qgoldresources.com) whereby Cavan has obtained an 18-month option to earn a 65% participating interest in a prospective Arizona silver joint venture with Q-Gold.
The joint venture will contain Q-Gold's holdings of 3 patented historic silver mines and 22 adjoining U.S. Bureau of Land Management ('BLM') mining claims in the Peck Mining District of Yavapai County, Arizona, totalling 484 acres. The Peck District is famous for its historic high-grade silver production, having produced an 'official' 1,374,000 ounces from 1875 to 1910.
Q-Gold's holdings include the historic 'Black Warrior', 'Isis' and a portion of the 'Silver Prince' silver mines, all of which produced high-grade silver ores during the above period, using primitive mining methods.
As Arizona only became a state in 1912, production records are scarce and difficult to obtain. However, 'Territorial' records show silver production worth $500,000 during the above period from the Black Warrior and the Silver Prince Mines, a portion of the latter which is included in the Agreement. High-grade ore, occurring in ore shoots, went directly to the smelter, with 'milling grade' ore production assaying at 12-16 ounces of silver per ton being crushed and concentrated on site. The mines were closed early in the 20th Century due to the 'Silver Price Depression' and the advent of World War I and have never been re-opened.
By meeting its obligations in U.S. Dollars during the 18-month Option Period, including cash payments to Q-Gold of $275,000, work expenditures of $1,000,000 and issuance of Cavan shares to Q-Gold worth $300,000, Cavan will earn a 65% participating interest in the Joint Venture. During the Option Period, Q-Gold will be Operator for the undertaking.
The known silver mineralization in the Black Warrior and Silver Prince Mines occurs in 'saddle reef' or lenticular deposits in host granites and schists, along vein structures from 50 to 250 feet in width and from 2 to 18 feet in thickness. These occur at depths between 200 and 400 feet. On the property are 5 veins, only two of which have been worked to any extent. Two adits and one shaft were entered and inspected by Q-Gold's geologist, and all contained silver and antimony mineralization. The deposits contain the important silver ore minerals, argentite and pyrargyrite, as well as argentiferous galena and antimonial silver minerals, the latter in their deeper portions. The secondarily leached silver minerals miargyrite, iodargyrite and bromargyrite, were also encountered in the adits.
As noted above, the area contains 3 high grade historic silver mines and a number of BLM claims highly prospective for silver, yet it has never experienced modern mining exploration techniques. Therefore, the venture will initially launch a helicopter-based VTEM / Magnetic airborne geophysical survey which will attempt to delineate anomalies which will indicate potential remaining ore bodies and possible drilling sites within the complex.
Mr. Andrew Mah remarked 'With silver prices at recent record highs, I look forward to initiating modern joint exploration activities this summer with Q-Gold in the historic silver-producing Peck Mining District of Arizona.'
The historical references contained in this release have not been verified by a qualified person under NI 43-101 and therefore cannot be relied on for any purpose. Brian A. Beck, PG a qualified person under NI 43-101 has reviewed and approved the technical content of this release.
The Option Agreement is subject to the approval of the TSX-Venture Exchange.
On behalf of the Board of Directors:
'Andrew Mah'
Andrew Mah, President & Director
(604)763 7748 (cell) or (604)288 2756
andrew.mah@cavanventures.com
or
Patrick Brandreth
Director, Corporate communication: (604) 809 3527
patrick@cavanventures.com
For further information please visit our website at www.cavanventures.com
This news release contains certain forward-looking statements that reflect the current views and/or expectations of Cavan with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Twitter: www.twitter.com/cavanventures
Facebook: www.facebook.com/cavanventures
The joint venture will contain Q-Gold's holdings of 3 patented historic silver mines and 22 adjoining U.S. Bureau of Land Management ('BLM') mining claims in the Peck Mining District of Yavapai County, Arizona, totalling 484 acres. The Peck District is famous for its historic high-grade silver production, having produced an 'official' 1,374,000 ounces from 1875 to 1910.
Q-Gold's holdings include the historic 'Black Warrior', 'Isis' and a portion of the 'Silver Prince' silver mines, all of which produced high-grade silver ores during the above period, using primitive mining methods.
As Arizona only became a state in 1912, production records are scarce and difficult to obtain. However, 'Territorial' records show silver production worth $500,000 during the above period from the Black Warrior and the Silver Prince Mines, a portion of the latter which is included in the Agreement. High-grade ore, occurring in ore shoots, went directly to the smelter, with 'milling grade' ore production assaying at 12-16 ounces of silver per ton being crushed and concentrated on site. The mines were closed early in the 20th Century due to the 'Silver Price Depression' and the advent of World War I and have never been re-opened.
By meeting its obligations in U.S. Dollars during the 18-month Option Period, including cash payments to Q-Gold of $275,000, work expenditures of $1,000,000 and issuance of Cavan shares to Q-Gold worth $300,000, Cavan will earn a 65% participating interest in the Joint Venture. During the Option Period, Q-Gold will be Operator for the undertaking.
The known silver mineralization in the Black Warrior and Silver Prince Mines occurs in 'saddle reef' or lenticular deposits in host granites and schists, along vein structures from 50 to 250 feet in width and from 2 to 18 feet in thickness. These occur at depths between 200 and 400 feet. On the property are 5 veins, only two of which have been worked to any extent. Two adits and one shaft were entered and inspected by Q-Gold's geologist, and all contained silver and antimony mineralization. The deposits contain the important silver ore minerals, argentite and pyrargyrite, as well as argentiferous galena and antimonial silver minerals, the latter in their deeper portions. The secondarily leached silver minerals miargyrite, iodargyrite and bromargyrite, were also encountered in the adits.
As noted above, the area contains 3 high grade historic silver mines and a number of BLM claims highly prospective for silver, yet it has never experienced modern mining exploration techniques. Therefore, the venture will initially launch a helicopter-based VTEM / Magnetic airborne geophysical survey which will attempt to delineate anomalies which will indicate potential remaining ore bodies and possible drilling sites within the complex.
Mr. Andrew Mah remarked 'With silver prices at recent record highs, I look forward to initiating modern joint exploration activities this summer with Q-Gold in the historic silver-producing Peck Mining District of Arizona.'
The historical references contained in this release have not been verified by a qualified person under NI 43-101 and therefore cannot be relied on for any purpose. Brian A. Beck, PG a qualified person under NI 43-101 has reviewed and approved the technical content of this release.
The Option Agreement is subject to the approval of the TSX-Venture Exchange.
On behalf of the Board of Directors:
'Andrew Mah'
Andrew Mah, President & Director
(604)763 7748 (cell) or (604)288 2756
andrew.mah@cavanventures.com
or
Patrick Brandreth
Director, Corporate communication: (604) 809 3527
patrick@cavanventures.com
For further information please visit our website at www.cavanventures.com
This news release contains certain forward-looking statements that reflect the current views and/or expectations of Cavan with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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