Triex Minerals Corporation: 2008 Exploration Budget and Stock Options Granted
January 29 2008 - 11:18AM
Marketwired Canada
Triex Minerals Corporation (TSX VENTURE:TXM) (the "Company") is pleased to
report the details of the $6.4 million annual exploration budget for 2008
approved by the Board of Directors.
With approximately $14 Million of working capital and only 19.7 million shares
issued, the Company is well financed to both execute its planned exploration
program, and also respond to new opportunities in the uranium sector, for which
fundamental and long-term supply challenges persist.
The 2008 exploration budget is focused on drilling. Properties acquired and
targets developed during the past three years will be tested. More than 15,000
metres are planned on six different projects in three different districts; the
Company continues to manage exploration risk through diversity.
Individual planned programs include:
- 5,000 m at Pasfield Lake, SK
- 5,000 m on four regional targets in Hornby Bay Basin, NU
- 3,000 m on two targets at Stony Road, SK
- 1,200 m on the new Fireweed discovery, AK
- 2,500 m on three targets at the new Riverlake and Highrock properties, SK
Drilling is scheduled to begin within two weeks, and will continue more or less
continuously for the next eight months, ending in November. Dominion Drilling
Inc., of Saskatchewan, has the depth to provide three different types of rigs
that the Company requested in it's tenders in order to most cost-effectively
drill a variety of different targets, and as such, maximize the number of holes
and total metres drilled.
The Company also announces the granting of incentive stock options to certain
directors, officers and employees to purchase up to 505,000 common shares under
the Company's Incentive Stock Option Plan. The options will be granted for a
period of five (5) years, commencing on January 23, 2008, exercisable at a price
of $2.00 per share.
TRIEX MINERALS CORPORATION
Michael Gunning, President
Triex Minerals Corp Com Npv (TSXV:TXM)
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