Everton's Partner, Aurizon Mines Ltd., to Spend $3.6 Million on its Opinaca-Wildcat Property - in James Bay, Quebec
January 12 2011 - 6:30AM
Marketwired Canada
Everton Resources Inc. (TSX VENTURE:EVR)(FRANKFURT:ERV) and its partner Aurizon
Mines Ltd. ("Aurizon") (TSX: ARZ, NYSE Amex: AZK) are pleased to report
Aurizon`s plans to spend $3.6 million, which includes 7,200 metres of drilling,
at Everton`s Opinaca-Wildcat Property.
Following the signing of letters of intent in the third quarter 2010, Aurizon
plans to initiate an exploration program of surface sampling, geophysical
surveys and drilling at the Opinaca-Wildcat properties in 2011 at a budgeted
cost of $3.6 million. Approximately $1.0 million of expenditures, including
2,000 metres of drilling, is planned for the Opinaca property, and approximately
$2.6 million of expenditures, including 5,000 metres of drilling, is planned for
the Wildcat property.
Aurizon can earn up to a 60% interest in the Opinaca Property (Opinaca A and B),
comprising 649 mineral claims covering 338 square kilometres, and up to a 65%
interest in the Wildcat Property, comprising 432 mineral claims covering 225
square kilometres. Both properties are situated in the James Bay area, 350
kilometres north of Matagami, Quebec and in close proximity to Goldcorp`s
Eleonore Project. (See news release dated 2010-09-16). The Opinaca property is
owned by Everton and Azimut as to an undivided 50-per-cent interest each, and
comprises 649 mining claims covering 33,849 hectares and is located in the area
of Goldcorp`s Eleonore project. The Wildcat property is 100% owned by Everton
Resources.
In Other News:
The Board of Directors has approved an amendment to the Company`s Stock Option
Plan. Pursuant to the policies of the TSX Venture Exchange, the maximum number
of shares reserved for issuance under the Stock Option Plan will be increased to
10,277,629 common shares. This increase is subject to regulatory approval.
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.
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 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.
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