/NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN
PART IN OR INTO THE UNITED
STATES/
TSX Venture Exchange: NMD
VANCOUVER, March 1, 2013 /CNW/ - Nomad Venture Inc.
("Nomad") is pleased to announce that it has been granted an
option to acquire a 75% undivided interest in Nouveau Monde Mining
Enterprises Inc. ("Nouveau Monde") (TSX-V:NOU) Mac's Lead
property which is located about 60 km north-east of the locality of
Kuujjuarapik, Québec (the
"Agreement"). The Mac's Lead property is recognized by the USGS as
one of 38 known Mississippi Valley type (MVT) deposits in the
world. Nouveau Monde will act as the operator for all exploration
programs on the Mac's Lead property during the time of the
Agreement.
In order to acquire its 75% undivided interest in the Mac's Lead
property, Nomad must pay Nouveau Monde a total of $150,000 in cash, issue 6.5M shares of Nomad to
Nouveau Monde and incur up to $3,000,000 of exploration expenditures on the
property.
The Mac's Lead property is composed of 59 active
mining claims covering 2,863 in the NTS map sheets 33N11, 33N14 and
33N15. Shipments of galena by the Hudson Bay Company to
England have been recorded in the
middle and late parts of the 18th century from a small
deposit located close to the Little Whale River in the same
geographical area as the property (Quebec Statutory Work Report
GM18170). Historical results (non NI 43-101 compliant) from two
trenches done in 1965 by the Shawinigan Mining and Smelter Company,
as reported in GM19016 Quebec Statutory Work Report were reported
to grade 6.21% Pb, 1.28% Zn, 0.17 % Ag and 4.46% Pb. 0,38% Zn,
0.13% Ag, respectively.
During the third quarter of 2012, Nouveau Monde
conducted a reconnaissance program which had as an objective the
confirmation of the historical grades and to initiate the
geological evaluation of the property. In total, seven historical
trenches were confirmed. These trenches have a total strike length
of three kilometers. A continuous stromatolitic limestone formation
with abundant visible sulphide mineralization was observed by
Nouveau-Monde geologists along the entire prospective length. The
three best sampled locations samples returned: 17.65% Pb, 1.65% Zn,
and 33 g/t Ag; 3.23% Pb, 4.37% Zn, and 11g/t Ag; and 1.56% Pb,
2.97% Zn and 10g/t Ag, respectively. All results are
available on the company web site (www.nouveaumonde.ca).
In light of these very encouraging results confirming the
presence of high-grade mineralization of lead, zinc and silver
mineralization on the property, a major ground geophysical campaign
is planned for the summer of 2013 in order to delineate the best
quality drill targets.
The terms of the Agreement are summarized as follows:
- $25,000 in cash upon signing of
the Agreement.
- 500,000 common shares of Nomad to be issued to Nouveau Monde
upon approval of the Agreement by the TSX.
- 1,000,000 common shares of Nomad to be issued to Nouveau Monde
within 30 days of completing a minimum financing of $300,000 (to be realized before April 30th, 2013).
- Within a period of 12 months from the date of the Agreement,
Nomad must have incurred cumulative exploration expenditures which
are the higher of (i) $300,000 or
(ii) 50% of any financings realized by Nomad within a period of 9
months from the date of the Agreement, up to a maximum of
$500,000 of exploration expenditures
in the first year.
- $50,000 in cash on the first
anniversary of the date of the Agreement.
- 2,500,000 common shares of Nomad issued to Nouveau Monde on the
first anniversary of the date of the Agreement.
- Within a period of 24 months from the date of the Agreement
Nomad must have incurred cumulative exploration expenditures of at
least $1,500,000 in connection with
the exploration of the property.
- $75,000 in cash on the second
anniversary of the date of the Agreement.
- Within a period of 36 months from the date of the Agreement
Nomad must have either (i) incurred cumulative exploration
expenditures of at least $3,000,000
in connection with the exploration of the Property or (ii) incurred
cumulative exploration expenditures of at least $2,000,000 in connection with the exploration of
the property and paid in cash to Nouveau Monde the difference
between $3,000,000 and the actual
exploration expenditures incurred by Nomad during such 36 month
period.
This news release has been reviewed and approved
by Eric Desaulniers, MSc, PGeo,
President and CEO for Nouveau Monde, qualified person under
National Instrument 43-101 regulations.
As previously announced, Nomad has requested and
received TSX Venture Exchange approval to extend the closing of the
private placement previously announced on Oct. 26, 2012. Nomad has been granted an
additional 30-day extension and will now schedule the closing for
on or before March 15, 2013.
On Nov. 5, 2012,
Nomad closed the first tranche of the private placement. Three
million units were issued at a price of five
cents per unit for a total dollar amount of $150,000. The units consist of 2.15 million
non-flow-through shares and 850,000 flow-through shares. Each unit
consists of one common share in the capital of the company and one
share purchase warrant. Each warrant will entitle the holder to buy
one common share of the company for a period of two years from the
date of issue. The exercise price of the warrants will be
10 cents for the first 12-month term
of the warrants and 15 cents for the
remaining term of the warrants.
The second tranche will be up to two million
units for gross proceeds of $100,000.
The second tranche is anticipated to now close on or before
March 15, 2013. The company will pay
a finder's fee in connection with the second tranche of 10 per cent
in cash plus 10 per cent in agent warrants, where permitted by the
TSX Venture Exchange. The second tranche of the private placement
is subject to final approval by the TSX Venture Exchange.
Nomad will use the proceeds from the second tranche to meet its
obligations under the option agreement with Nouveau Monde.
On behalf of the Board of Directors
"Brent Forgeron"
President, Director
Nomad Ventures Inc.
Neither the TSX-V nor its Regulation Services Provider (as
that term is defined in the policies of the TSX-V) has in no way
passed upon the merits of the proposed transaction and has neither
approved nor disapproved the contents of this press
release.
Information set forth in this news release
contains forward-looking statements that are based on assumptions
as of the date of this news release. These statements reflect
management's current estimates, beliefs, intentions and
expectations. They are not guarantees of future performance.
Nomad cautions that all forward looking statements are inherently
uncertain and that actual performance may be affected by a number
of material factors, many of which are beyond Nomad's control. Such
factors include, among other things: risks and uncertainties
relating to Nomad's ability to implement an exploration program on
the Mac Lead Property; complete any additional sales of securities
under the private placement and to obtain TSX Venture Exchange
approval of such additional sales. Accordingly, actual and future
events, conditions and results may differ materially from the
estimates, beliefs, intentions and expectations expressed or
implied in the forward looking information. Except as required
under applicable securities legislation, Nomad undertakes no
obligation to publicly update or revise forward-looking
information.
This announcement is not for publication
or distribution, directly or indirectly, in or into the United States (including its territories
and possessions, any state of the United
States and the District of
Columbia). This announcement is not an offer of securities
for sale into the United States.
The securities referred to herein have not been and will not be
registered under the US Securities Act of 1933, as amended, and may
not be offered or sold in the United
States, except pursuant to an applicable exemption from
registration. No public offering of securities is being made in
the United States.
SOURCE Nomad Ventures Inc.