ICN Resources Announces Cash and Share Issuance to Lode Star Gold Inc. and Project Update

ICN Resources Ltd. ("ICN" or the "Company") (TSX VENTURE:ICN) is pleased to
announce that it has made the first anniversary cash payment of US$100,000 and
issued 500,000 units to Lode Star Gold Inc. ("Lode Star") for the option payment
on Lode Star's Goldfield Bonanza Project, as per the TSX Venture Exchange
approved Definitive Agreement announced in March 2011 (see ICN News Release of
March 29, 2011). Each unit consists of one ICN common share and one common share
purchase warrant, with each warrant entitling the holder to purchase one
additional common share of ICN for a period of two years at an exercise price of
$0.14. The warrants issued are subject to a statutory hold period expiring on
August 10, 2012.


ICN is currently reviewing a consultant's detailed interpretation of results
from a biogeochemical survey completed previously on the Goldfield Bonanza
Project. Details will be released when interpretation is complete. The survey
highlights strong anomalies in several different areas where ICN has not yet
completed any drilling. These new target areas, along with untested geophysical
anomalies, will be tested in future drill programs. Three dimensional modeling
of the high grade mineralization (greater than 30 g/t Au) encountered in both
the Phase I and Phase II drill campaigns is also in progress and will further
assist in future drill hole targeting. 


Mark Walmesley, a director of Lode Star says, "ICN has accomplished much during
this first year of exploration to advance the geologic merit of our property. We
have gathered considerable amounts of positive geologic data and we are now in
the process of analyzing and modeling it. The next few months will be exciting
as we determine how to best execute the commencement of our next phase of
drilling." 


About ICN Resources

ICN is primarily focused on exploration for volcanic-hosted precious metal
deposits in western Nevada, emphasizing targets with geological similarities to
Sleeper, Sandman, Hollister, Midas and Aurora. ICN plans to explore the feeder
zones associated with large low-grade gold and silver systems, as well as
explore for high grade deposits at the new Goldfield Bonanza Project located in
western Nevada. ICN continues to evaluate opportunities in established
metallogenic belts elsewhere in the United States. The ICN management and
geological team have extensive experience in Nevada and worldwide, utilizing
this experience to generate prime opportunities for ICN shareholders. 


On Behalf of the Board of Directors of ICN Resources Ltd.,

Carl Hering, President & CEO

ICN Resources Ltd.

The forward-looking information contained in this press release is made as of
the date of this press release and, except as required by applicable law, ICN
does not undertake any obligation to update publicly or to revise any of the
included forward-looking information, whether as a result of new information,
future events or otherwise. By its very nature, such forward-looking information
requires ICN to make assumptions that may not materialize or that may not be
accurate. This forward-looking information is subject to known and unknown risks
and uncertainties and other factors, which may cause actual results, levels of
activity and achievements to differ materially from those expressed or implied
by such information.

Icn Resources Ltd. (TSXV:ICN)
過去株価チャート
から 5 2024 まで 6 2024