Sarissa Resources Announces Letter of Intent to Form Joint Venture and Access Project Financing
August 07 2012 - 9:51AM
Marketwired
Sarissa Resources Inc. (PINKSHEETS: SRSR) ("Sarissa"), through its
wholly-owned subsidiary Nio-Star Corp. ("Nio-Star" or "the
Company") is pleased to announce that they and a mining group have
signed a Letter of Intent to form a Joint Venture company (the
"JV") to finance the advanced exploration of Nio-Star's Nemegosenda
niobium property (the "Property") near Chapleau in Northern
Ontario. The parties will enter into a definitive joint venture
agreement (targeted by September 30th, 2012) upon obtaining
approval of the appropriate Government Agencies.
The formation of the JV will include the funding necessary for
the completion of a Bankable Feasibility Study (the "Study") for
the project, (or the expenditure of $20 million towards the Study)
and payments to Nio-Star.
Further details on the JV and the participants will be released
as the transaction progresses and approvals are obtained.
Safe Harbor This press release contains
statements, which may constitute "forward-looking statements"
within the meaning of the Securities Act of 1933 and the Securities
Exchange Act of 1934, as amended by the Private Securities
Litigation Reform Act of 1995. Those statements include statements
regarding the intent, belief or current expectations of Sarissa
Resources Inc. and Nio-Star Corp., as well as members of their
respective management, in addition to the assumptions on which such
statements are based. Prospective investors are cautioned that any
such forward-looking statements are not guarantees of future
performance and involve risks and uncertainties, and that actual
results may differ materially from those contemplated by such
forward-looking statements. Important factors currently known to
management that could cause actual results to differ materially
from those in forward-statements include fluctuation of operating
results, the ability to compete successfully and the ability to
complete before-mentioned transactions. Neither Sarissa nor
Nio-Star undertakes any obligation to update or revise
forward-looking statements to reflect changed assumptions, the
occurrence of unanticipated events or changes to future operating
results.
About Sarissa Resources Inc.
Sarissa Resources Inc. is a junior exploration company with
interests in properties in Northern Ontario, Canada. The Company is
specifically focused on the development of its Nemegosenda niobium
project as well as its Shining Tree gold project.
FOR FURTHER INFORMATION contact: www.sarissaresources.com Public
Relations: Merle Goertz North America: 866-307-1331 Hong Kong: 852
8174 5996
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