Laurion Completes Transaction with Jubilee Gold to Acquire up to a 100% Interest in Mining Leases Located in Elmhirst Townshi...
2011年9月10日 - 4:04AM
PR Newswire (Canada)
TORONTO, Sept. 9, 2011 /CNW/ -- TORONTO, Sept. 9, 2011 /CNW/ -
Laurion Mineral Exploration Inc. (TSX-V: LME) (OTCQX: LMEFF)
("Laurion" or the "Corporation") issued a press release on August
30, 2011, announcing that it had entered into a definitive option
agreement (the "Option Agreement") with Jubilee Gold Inc. (TSX-V:
JUB) ("Jubilee Gold"), whereby Laurion would: (i) acquire the sole,
exclusive, irrevocable and immediate right and authorization to
enter upon and to conduct mining operations, according to the terms
and conditions set forth in the Option Agreement, in and on all
parts of certain mining leases located in Elmhirst Township,
Beardmore, Ontario (the "Leases"); and (ii) obtain the option to
acquire up to a 100% interest in the Leases. Laurion is pleased to
announce that, subject to final approval by the TSX Venture
Exchange, it has otherwise received all necessary corporate and
regulatory approvals with respect to the above transaction with
Jubilee Gold, and confirms that the transaction has now
closed. The common shares of Laurion issued to Jubilee Gold
in connection with this transaction are subject to a four-month and
one day hold period from the date of issuance. The objective of
this transaction is to encompass the extensions along strike of the
Tehya, Ahki, Loki and A2 Vein trends, which are prospective
horizons for precious metal rich VMS mineralization on the Sturgeon
River Property. In April 2011, Laurion completed a 7 hole drill
program on polymetallic base metal targets on the Tehya, Ahki, Loki
and A2 Vein trends in the north east grid of the Sturgeon River
property. All 7 holes intersected Au, Ag, Cu, Zn mineralization.
Highlights of this drill program reported assays of 3.10 g/t Au,
27.5 g/t Ag, 0.38% Cu and 5.63% Zn over 3.10m and 0.10 g/t Au, 10.1
g/t Ag, 0.11% Cu and 2.85% Zn over 5.85m from precious metal rich
VMS horizon (see press release May 26, 2011). About Jubilee Gold
Inc. Jubilee Gold came into existence on January 1, 2010 being an
amalgamation of five companies: Union Gold Inc., Sheldon-Larder
Mines, Limited, Golden Harker Explorations Limited, Wood-Croesus
Gold Mines, Limited and Milestone Exploration Limited. About
Laurion Minerals Exploration Inc. The Corporation's focus is to
make the transition from explorer to near-term producer and
envisages the realization of shareholder value and wealth through
monetization of its discoveries and assets. Laurion's exploration
horizons are focused primarily on gold with a secondary interest in
base metals, with key interests in prospective mining properties
located in Ontario and Churchill County, Nevada USA. 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. This
news release includes certain forward-looking statements concerning
the future performance of Laurion's business, operations and
financial performance and condition, as well as management's
objectives, strategies, beliefs and intentions. Such statements
include, but are not limited to, statements concerning Laurion's
acquisition of the property from Jubilee Gold as described above.
Forward-looking statements are frequently identified by such words
as "may", "will", "plan", "expect", "anticipate", "estimate",
"intend" and similar words referring to future events and results.
Forward-looking statements are based on the current opinions and
expectations of management. All forward-looking information is
inherently uncertain and subject to a variety of assumptions, risks
and uncertainties, including the speculative nature of mineral
exploration and development, fluctuating commodity prices,
competitive risks and the availability of financing, as described
in more detail in our recent securities filings available at
www.sedar.com. Actual events or results may differ materially from
those projected in the forward-looking statements and Laurion
cautions against placing undue reliance thereon. To view this news
release in HTML formatting, please use the following URL:
http://www.newswire.ca/en/releases/archive/September2011/09/c9977.html
p Laurion Mineral Exploration Inc.br/ Cynthia Le Sueur‐Aquin -
President & CEObr/ Tel: 1-888-212-4070br/ Tel:
1-705-788-9186br/ Fax: 1-705-788-9187br/ Website: a
href="http://www.laurion.ca"www.laurion.ca/a /p
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