EVERTON Signs a Memorandum of Understanding With Strike Minerals Inc. for the Gold Project in Schreiber, Ontario
December 08 2010 - 3:42PM
Marketwired
Everton Resources Inc. ("Everton") (TSX VENTURE: EVR)(FRANKFURT:
ERV) is pleased to announce that, jointly with Canadian Star
Minerals Ltd. ("Canadian Star"), a private company, it has executed
a Memorandum of Understanding to sell or transfer ownership of
options to give Strike Minerals Inc. ("Strike") (TSX.V: STK) a 100%
undivided interest in a package of gold exploration properties at
Hays Lake near Schreiber, Ontario (the "Hemlo West Properties" or
"the property") approximately 70 kilometres west along the Trans
Canada Highway from the multi million ounce Hemlo gold deposit in
the Schreiber Hemlo greenstone belt.
Subject to Regulatory Approval, necessary corporate approvals,
and closing, Strike can acquire a 100% interest in the property for
$100,000 in cash, 5,700,000 common shares of Strike and 0.5% NSR on
the property that can be purchased for $500,000 by Strike at any
time.
Canadian Star together with Everton have the right to jointly
nominate one position on the Board of Strike.
The transaction is subject to due diligence, receipt of
requisite approval including the approval of the TSX Venture
Exchange with respect to Strike and Everton, and the execution and
delivery of a definitive purchase agreement.
Everton
Everton is partnered with Brigus Gold on actively exploring in
the Dominican Republic adjacent to the US$3 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.
Strike
Strike Minerals is a TSX-V listed company that is engaged in the
exploration and development of precious metal properties in Canada.
Its primary property is the former producing Edwards Gold Mine
property in the Goudreau - Lochalsh Gold Camp near Wawa Ont.
Historic production in the camp between 1930 and 2001 is estimated
at 500,000 ounces. Between 1996 and 2001 underground development
was completed through a decline to a depth of approximately 290 m
resulting in 144,000 oz being mined from the Edwards property. More
recent exploration of the property has delineated an additional
number of mineralized zones that require follow-up.
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 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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