Star Minerals Group Ltd. Announces Closing of Hoidas Lake Option and Joint Venture
January 28 2014 - 3:30PM
Marketwired
Star Minerals Group Ltd. Announces Closing of Hoidas Lake Option
and Joint Venture
SASKATOON, SASKATCHEWAN--(Marketwired - Jan 28, 2014) - 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.
Star Minerals Group Ltd.Jim
Engdahl306-664-3828306-244-0042info@starminerals.cawww.starminerals.ca
Star Minerals Group Ltd (TSXV:SUV)
Historical Stock Chart
From May 2024 to Jun 2024
Star Minerals Group Ltd (TSXV:SUV)
Historical Stock Chart
From Jun 2023 to Jun 2024