Everton and Aurizon Sign a Formal Option Agreement on Wildcat Property in Quebec and Close $250,000 Private Placement
October 19 2010 - 7:40AM
Marketwired
Everton Resources Inc. ("Everton" or the "Company") (TSX VENTURE:
EVR) (FRANKFURT: ERV) is pleased to announce the signing of a
formal option agreement with Aurizon Mines Ltd. ("Aurizon") (TSX:
ARZ, NYSE Amex: AZK) whereby Aurizon can acquire up to an undivided
65% interest in Everton's Wildcat property located in the James Bay
area, 350 kilometres north of Matagami, Quebec (terms initially
announced in a news release dated September 16, 2010). The Wildcat
property is 100% owned by Everton, comprises 411 mining claims,
covering 21,476 hectares, and is located in the area of Goldcorp's
Eleonore project.
Upon signing the option agreement, Everton closed a private
placement of 1,000,000 units with Aurizon at a price of $0.25 per
unit for gross proceeds of $250,000. Each unit consists of one
common share of the Company and one common share purchase warrant.
Each warrant entitles Aurizon to acquire one additional common
share in the capital of the Company at a price of $0.40 for
twenty-four months. All securities issued in the private placement
are subject to a four month and one day hold period until February
16, 2011.
In Other News:
Pursuant to a one-year service agreement between the Company and
a Consultant, whereby the consultant's services were rendered in
consideration for $111,600 payable in shares of the Company at the
end of the term which ended on September 17, 2010, the Board of
Directors has approved the issuance of 485,625 common shares of
Everton to the consultant at a deemed price of $0.23 per common
share. The transaction is subject to approval by the TSX Venture
Exchange. The shares to be issued will be subject to a four month
and one day hold period from the closing of the transaction.
Everton also announces the departure of Mr. Marc L'Heureux as
Everton's Vice-President Exploration, effective October 15, 2010,
to pursue other opportunities. "On behalf of the Board, as well as
personally, I would like to thank Marc for his many years of
dedication and hard work and wish him continued success in his
future endeavours," stated Andre Audet, Chairman & CEO of
Everton.
Everton is partnered with Brigus Gold on actively exploring in
the Dominican Republic adjacent to the US$2.7 billion Pueblo Viejo
project, currently being developed by the world's largest gold
mining company, Barrick Gold Corporation (60%) (NYSE/TSX: ABX) in
partnership with Goldcorp (40%) ("Goldcorp") (NYSE: GG, TSX: G).
Planned divestiture of its 100%-owned subsidiary Hays Lake Gold
containing the Shoal Lake Gold Project in Kenora, Ontario is
expected to provide internal funding to advance the Ampliacion
Pueblo Viejo project. Everton also holds an interest in the Opinaca
region of James Bay, Quebec where the Company has partnered with
Aurizon Mines Ltd. who is advancing Everton's interest by funding
100% of all exploration work on one of the largest land packages
adjacent to Goldcorp's Eleonore gold deposit.
This news release contains certain forward-looking statements
that involve risks and uncertainties, such as statements of
Everton's plans, objectives, strategies, expectations and
intentions. The words "may", "would", "could", "will", "intend",
"plan", "anticipate", "believe", "estimate", "expect" and similar
expressions, as they relate to Everton, or its management, are
intended to identify such forward-looking statements. Many factors
could cause Everton's actual results, performance or achievements
to be materially different from any future results, performance or
achievements that may be expressed or implied by such
forward-looking statements. The forward-looking statements included
in this press release represent Everton's views as of the date of
the release. While Everton anticipates that subsequent events and
developments may cause its views to change, it specifically
disclaims any obligation to update these forward-looking
statements, except in accordance with applicable securities laws.
Accordingly, readers are advised not to place undue reliance on
forward-looking information. All subsequent written and oral
forward-looking statements attributable to Everton or persons
acting on its behalf are expressly qualified in their entirety by
this notice.
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: Everton Resources Inc. Andre Audet Chairman and CEO
613-241-2332 613-241-8632 (FAX) andre@evertonresources.com Everton
Resources Inc. Gary Economo Manager, Corporate Communications
613-241-2332 613-241-8632 (FAX) gary@evertonresources.com
www.evertonresources.com
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