Valencia Provides Update on the Cachinal Property
2011年9月16日 - 10:43PM
Marketwired
Valencia Ventures Inc. ("Valencia" or the "Company") (TSX VENTURE:
VVI) is pleased to provide the following update with respect to its
agreement with Apogee Silver Ltd. ("Apogee"). Further to previous
news releases issued by the Company (October 5, 2009 and December
21, 2010), the parties have now agreed that Apogee will purchase
all of Valencia's participating interest in Compania Minera
Valencia Ventures - Chile Limitada ("Compania Minera"). Compania
Minera holds Valencia's entire 80% participation interest in each
of the Cachinal Property and the Nueva Juncal Silver Property, both
located in northern Chile, for an aggregate purchase price of
$500,000 in cash and 3,000,000 common shares of Apogee. Completion
of this transaction remains subject to receipt of regulatory
approvals, including the approval of the TSX Venture Exchange. The
acquisition is a non-arm's length transaction for the purposes of
the TSX Venture Exchange as Apogee and Valencia have a common
director, Mr. Stan Bharti.
About Valencia
Valencia is a Canadian resource company traded under the symbol
VVI on the TSX Venture Exchange. For additional information on this
press release or Valencia's projects, please visit
www.valenciaventures.com.
Cautionary Note Regarding Forward-Looking Information. This
press release contains "forward looking information" within the
meaning of applicable Canadian securities legislation. Forward
looking information includes, but is not limited to, statements
with respect to the sale of the Cachinal and Juncal silver
properties, future financial or operating performance of the
Company, its subsidiaries and its projects, and statements
regarding exploration prospects. Generally, forward looking
information can be identified by the use of forward-looking
terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved". Forward-looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information, including but not limited to:
financing not being available at desired prices; general business,
economic, competitive, political and social uncertainties; the
actual results of current exploration activities; timing and
availability of external financing on acceptable terms; conclusions
of economic evaluations; changes in project parameters as plans
continue to be refined; future prices of mineral prices; failure of
plant, equipment or processes to operate as anticipated; accidents,
labour disputes and other risks of the mining industry; and, delays
in obtaining governmental approvals or required financing or in the
completion of activities. Although the Company has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
information, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance
that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward looking information. The Company does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
To view Figure 1 Location and Regional Setting Cachinal and
Juncal Projects, please visit the following link:
http://media3.marketwire.com/docs/vvimap.pdf
Table 1 Nueva Juncal Property Summary
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Concession Owner Area (ha) Type
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Barbara 1, 1-60 Silver Standard 300 Exploitation
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Barbara 2, 1-30 Silver Standard 300 Exploitation
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Barbara 3, 1-60 Silver Standard 300 Exploitation
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Barbara 5, 1-30 Silver Standard 300 Exploitation
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Barbara 6, 1-30 Silver Standard 300 Exploitation
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Barbara 7, 1-30 Silver Standard 300 Exploitation
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Barba 4, 1-60 Silver Standard 300 Exploitation
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Total 2100
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To view Figure 2 Nueva Juncal Concession Map, please visit the
following link:
http://media3.marketwire.com/docs/vvimap2.pdf
NEITHER THE 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: Valencia Ventures Inc. Frederic W.R. Leigh President
and CEO fleigh@forbesmanhattan.com
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