Valterra Amends Swift Katie Property Agreement
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/27/13 -- Valterra Resource Corporation (TSX VENTURE: VQA)(FRANKFURT: 3VA) ("Valterra") reports that it has amended the agreement with respect to its Swift Katie property located in southeast BC. Valterra earned a 100% interest in the Swift Katie property on December 31, 2011 subject to an obligation to pay the optionors annual advanced minimum royalty ("AAMR") payments. Pursuant to a recent amendment agreement, the optionors of the Swift Katie property have agreed to defer a portion of the AAMR payment ($40,940) due on December 31, 2012 until June 30, 2013. Valterra will pay the balance of the 2012 AAMR payment ($15,000) and issue 100,000 common shares to the optionors in consideration for this amendment. The amending agreement contains default provisions respecting interest payments and reversion in the event of default of payment of the deferred balance on the due date. The amendment agreement and the issuance of shares thereunder are subject to TSX Venture Exchange acceptance.
The Swift Katie property comprises more than 83 km2 and is located near Salmo BC in an infrastructure-rich region of the province that includes numerous historic mines. The project includes a significant historic drill database with more than 57 drill holes, and Valterra has completed an additional 15 drill holes (4,866m), returning several encouraging intercepts for bulk-tonnage Cu-Au-Ag from the Katie, 17 and West zones. The property is underlain by prospective volcano-sedimentary rocks assigned to the Rossland Group which hosts numerous precious-metal and polymetallic past-producers in this prolific belt.
About Valterra Resource Corporation
Valterra is a Manex Resource Group Company. The group provides expertise in exploration, administration, and corporate development services for Valterra's mineral properties located in British Columbia and Ontario. Valterra is focussed on early stage properties with the potential to host large deposits, in regions with excellent infrastructure. Over the last several years, Valterra has acquired and is exploring several key projects including "Star-Toughnut", "Swift Katie" and "Bobcaygeon" which are located near roads, rail, power, and resource communities in Canada.
On behalf of the Board of Directors,
Frederick Sveinson, President
Valterra Resource Corporation
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.
Contacts:
Valterra Resource Corporation
Liana Shahinian
1.888.456.1112 or 604.641.2773
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Datum: 27.02.2013 - 23:02 Uhr
Sprache: Deutsch
News-ID 234193
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VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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