Star Minerals Group Ltd. Announces Closing of Hoidas Lake Option and Joint Venture
January 28 2014 - 2:30PM
Marketwired Canada
Star Minerals Group Ltd. ("Star" or the "Company") (CNSX:SUV) is pleased to
announce that all conditions precedent in the Option and Joint Venture Agreement
with Great Western Minerals Group Ltd. ("GWMG") have now been satisfied or
waived and that the Agreement is now in full force and effect.
Star has the right to acquire a 25% participating interest in the Hoidas Lake
Project by funding and completing a preliminary economic assessment in respect
of the Hoidas Lake Project within two years. Upon successfully exercising the
first tranche and acquiring a 25% participating interest, Star will have the
right to acquire an additional 26% participating interest in the Hoidas Lake
Project by funding and completing a "bankable" feasibility study in respect of
the Hoidas Lake Project within four years of the acquisition by Star of the
initial 25% participating interest in the Hoidas Lake Project, thereby giving
Star a 51% ownership interest in the property.
Star is moving forward with this advanced rare earth exploration project located
in Northern Saskatchewan. The Company is in the final stages of the selection
process for firms to do the Preliminary Economic Assessment on the property.
About Star Minerals Group Ltd.
Star is a Canadian based junior exploration company focused on the acquisition
and development of strategic resource properties on a worldwide basis.
Star trades on the CSE (formerly CNSX) under the symbol "SUV".
Forward Looking Statements
This news release contains certain statements which constitute forward-looking
statements or information ("forward-looking statements"). Such forward-looking
statements are subject to numerous risks and uncertainties, some of which are
beyond Star's control, including the impact of general economic conditions,
industry conditions, volatility of commodity prices, currency fluctuations,
competition from other industry participants, stock market volatility and the
ability to access sufficient capital from internal and external sources.
Although Star believes that the expectations in its forward-looking statements
are reasonable, they are based on factors and assumptions concerning future
events which may prove to be inaccurate. Those factors and assumptions are based
upon currently available information. Such statements are subject to known and
unknown risks, uncertainties and other factors that could influence actual
results or events and cause actual results or events to differ materially from
those stated, anticipated or implied in the forward looking information. As
such, readers are cautioned not to place undue reliance on the forward looking
information, as no assurance can be provided as to future results, levels of
activity or achievements. Other factors that could materially affect such
forward-looking statements are described in the risk factors in the most recent
management's discussion and analysis that is available on the Company's profile
on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list of
factors is not exhaustive. The forward-looking statements contained in this
document are made as of the date of this document and, except as required by
applicable law, Star does not undertake any obligation to publicly update or to
revise any of the included forward-looking statements, whether as a result of
new information, future events or otherwise. The forward-looking statements
contained in this document are expressly qualified by this cautionary statement.
FOR FURTHER INFORMATION PLEASE CONTACT:
Star Minerals Group Ltd.
Jim Engdahl
306-664-3828
306-244-0042 (FAX)
info@starminerals.ca
www.starminerals.ca
Navis Resources (CSE:SUV)
Historical Stock Chart
From Aug 2024 to Sep 2024
Navis Resources (CSE:SUV)
Historical Stock Chart
From Sep 2023 to Sep 2024
Real-Time news about Navis Resources Corp (Canadian Securities Exchange): 0 recent articles
More Star Minerals Group Ltd. News Articles