Revolver Resources Inc. Receives Final TSX Venture Exchange Approval on Acquisition of Quebec Projects
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/17/12 -- Revolver Resources Inc. (the "Company") (TSX VENTURE: RZ) is pleased to announce that is has received final TSX Venture Exchange approval to the Company's option agreement dated February 21st, 2012 as amended by letter agreement dated May 9, 2012 with North American Exploration Ltd. to acquire a 100% interest in the Lucky North property consisting of 39 claims, the Lucky South property consisting of 48 claims and the Macho property consisting of 8 claims, all located in the Abitibi greenstone belt in the province of Quebec.
Revolver will issue North American Exploration Ltd. 1,000,000 common shares in conjunction with the option, which shares are subject to a hold period of 4 months and 1 day from their date of issue.
"We are excited about the addition of these properties which are located in a geologically active area in the mining friendly district of Quebec," stated Rob Birmingham, President of Revolver Resources Inc. "The initiation of a work program, along with engaging top industry related professionals in the area is an important step in moving Revolver forward."
For additional information please read the Company's news release dated February 21st, 2012 available on SEDAR or on the Company website at .
About the Lucky North, Lucky South and Macho properties:
The Lucky North, Lucky South and Macho properties are located in the Urban-Barry gold camp in the greater Abitibi greenstone belt situated in west-central Quebec approximately 170 kilometres northeast of the mining city of Val d'Or (valley of gold). The Urban-Barry camp has recently seen increased and persistent gold exploration. This has been driven by both high-grade gold discoveries and the construction of roads which are maintained year round. The three primary gold projects in the area are the Eastern extension (BonTerra Resources Inc.), Barry deposit (Metanor Resources Inc.) and Windfall Lake (Eagle Hill Exploration Corporation). All three of these companies trade on the TSX Venture Exchange. To date both Metanor and Eagle Hill have completed NI 43-101-compliant gold resource calculations on their properties. BonTerra is expected to release its first gold resource calculation for the Eastern extension in the near future. Once BonTerra has completed this, the belt will have three distinct compliant gold resources all completed within a year and a half. The belt is no longer under the radar due to all of these recent developments. These companies continue to discover high-grade gold in altered quartz veins. Situated in between BonTerra and Eagle Hill is the Beaufield-Amseco joint venture with drilling currently under way. The Urban-Barry belt of Quebec has the potential to develop into a hotbed of gold exploration and hopefully mining. The regional trends associated with gold mineralization continue for many kilometres, as is the case in other parts of the Abitibi.
Robert L. Birmingham, President
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Contacts:
Revolver Resources Inc.
Robert L. Birmingham
President
(604) 683-8610
(604) 683-8605 (FAX)
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Unternehmensinformation / Kurzprofil:
Datum: 17.05.2012 - 16:14 Uhr
Sprache: Deutsch
News-ID 147832
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Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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