Everton's Partner, Aurizon Mines Ltd., to Spend $3.6 Million on its Opinaca-Wildcat Property - in James Bay, Quebec
January 12 2011 - 7:30AM
Marketwired
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.
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. Wendy Pemberton Manager, Corporate Communications
613-241-2332 613-241-8632 (FAX) wendy@evertonresources.com
www.evertonresources.com
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