DGAP-News: North Thunder Bay Mining Eyes Expansion of Mayantoc Iron Ore Prospect
(firmenpresse) - DGAP-News: North Thunder Bay Mining Co. Ltd. / Key word(s):
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North Thunder Bay Mining Eyes Expansion of Mayantoc Iron Ore Prospect
09.03.2011 / 14:00
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North Thunder Bay Mining Eyes Expansion of Mayantoc Iron Ore Prospect
Toronto, Canada - (For immediate release) - March 8, 2011
North Thunder Bay Mining Co. Deutsche Börse symbol: 84N
(www.norththunderbay.com), is pleased to announce that it is close to
signing an agreement to acquire an additional 150 hectares adjacent to its
current Mayantoc prospect. The property is currently controlled by MSJ
TreeFarm and Development Corp. (MSJ).
The agreement will see North Thunder Bay Mining obtain the necessary
permits and fund 100% of the costs of permits, exploration and development
in exchange for a 3% royalty to MSJ from all of the proceeds of any sales
of minerals from the property. This prospect will be known as the Soliman
Prospect, after Carlito Soliman who is the administrator and treasurer of
MSJ.
Management believes that this additional acreage will show similar iron ore
mineralization as the current Mayantoc prospect, and will add to the
potential reserves and value of the iron ore play.
Disclaimer&Safe Harbor Statement:
This release may contain certain 'forward-looking statements' with respect
to certain of North Thunder Bay Mining Co.'s plans, goals and expectations
regarding its future financial condition, performance, results, strategy
and objectives. Words such as 'anticipates', 'expects', 'intends', 'plans',
'believes', 'seeks', 'estimates', 'may', 'could', 'would', 'might', 'will'
and variations of these words or similar expressions are intended to
identify forward-looking statements. In addition, any statements that refer
to expectations, beliefs, plans, projections, objections, performance or
other characterizations of future events or circumstances, including any
underlying assumptions, are forward-looking statements. Forward-looking
statements in this press release are not promises or guarantees of future
performance and are subject to risks and uncertainties that could cause
North Thunder Bay Mining Co.'s actual results to differ materially from
those anticipated. North Thunder Bay Mining Co. cautions the reader not to
place undue reliance upon any such forward-looking statements. These
forward-looking statements involve known and unknown risks as well as
uncertainties, including those discussed herein as well as the following:
(i) domestic and global economic and business conditions; (ii) market
related risks and the performance of financial markets generally; (iii) the
policies and actions of regulatory authorities; (iv) the impact of
competitive factors; (v) risks and uncertainties associated with future
acquisitions or combinations within relevant industries; and (vi) changes
in capital, solvency or accounting standards as well as tax and other
relevant legislation or regulations in the jurisdictions in which North
Thunder Bay Mining Co. operates. The actual results that North Thunder Bay
Mining Co. achieves may differ materially from any forward-looking
statements which are based on management's beliefs and opinions at the time
the statements are made. North Thunder Bay Mining Co. does not undertake
any obligation to update forward-looking statements should circumstances or
management's beliefs or opinions change.
For further information please contact:
North Thunder Bay Mining Co.
Hudson Bay Center
2 Bloor Street East
Suite 3500
Toronto ON
M4W 1A8
Email:
End of Corporate News
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09.03.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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114953 09.03.2011
Datum: 09.03.2011 - 14:00 Uhr
Sprache: Deutsch
News-ID 33428
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
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