Newstrike Resources Ltd. Options New Mineral Prospect
|
| Posted
:
Mon, 09 Nov 2009 19:01:23 GMT |
| Author
:
Newstrike Resources Ltd. |
| Category
:
Press Release |
| News Alerts by
Email ( click
here ) |
|
|
|
|
TORONTO, ONTARIO -- 11/09/09 --
Newstrike Resources Ltd. (TSX VENTURE: NR) ("Newstrike") is pleased to announce that it has entered into an option agreement with Misema Resources Ltd. ("Misema") pursuant to which Newstrike has been granted the option to acquire up to a 50% legal and beneficial interest in eight mining claims located in Gauthier Township, Ontario (collectively, the "Property"). Mr. John Pollock is the President of Newstrike, and also the President of Misema.
In order to acquire an initial 20% interest in the Property, Newstrike is required to make a cash payment of $10,000 and incur aggregate exploration expenditures on the Property of $90,000 over a one year period. Upon exercise of its option to earn a 20% interest in the Property, Newstrike may thereafter elect to earn an additional 30% interest in the Property (for an aggregate 50% interest) by incurring an additional $400,000 in exploration expenditures on the Property over the subsequent two year period. The acquisition remains subject to the approval of the TSX Venture Exchange.
Misema conducted exploration work on this Property and outlined a circular magnetic low anomaly. This anomaly is proposed to be testing by diamond drilling.
Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Newstrike, including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with mineral exploration and mining activities, currency fluctuations, dependence upon regulatory approvals, the availability of future financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
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:
Newstrike Resources Ltd.
Donald Rankin
Director
(416) 628-6556
|

Copyright © 2008
Market Wire. All
rights reserved.
|
|
|
|
|
Related
News
Get Moving Catalog Launches DiabetesMiami.Com, A Fundraising Initiative with the American Diabetes Association of Southeast Florida. (EMAILWIRE.COM, November 22, 2009 ) Miami, Florida - As charities and non-profits struggle in difficult economic times, many are seeking new approaches to improve their fundraising efforts. In that vein, the American Diabetes Association of Southeas..
StockSource.us Reports Green Energy Stock to Explode (EMAILWIRE.COM, November 22, 2009 ) Del Mar, CA – The Environmental Protection Agency reports one of the biggest challenges facing livestock producers is managing manure and process water in a way that protects environmental quality and controls odo..
LiquidStockReport.com - Green Energy Live provides Engineering Assistance. (EMAILWIRE.COM, November 22, 2009 ) Del Mar, CA - Being a leader in the biomass-to-ethanol industry and a provider of complete equipment packages for biomass energy systems, Green Energy Live provides engineering assistance, assists customers in appl..
GOOD MORNING -- November 22, 2009
This is PR NEWSWIRE -- transmitting news releases, advisories and
other information to the news media around the United States since
1954.
If you have questions regarding your PRN teleprinter, your PRN computer
service, or if you wish to arrange to receive P...
iRateMyDate iPhone App Launches in the iTunes store
November 23rd marks the release of a new iPhone dating app for single men and women. iRateMyDate is designed to help singles Manage, Rate and Compare their dates. Single men and women have been known to have a mental checklist of qualities they are looking for in a date or mate and the iRateM...
ArchAngel Partners Announces the Opening of Sister Company Poway Weapons & Gear
SAN DIEGO, Nov. 22 /PRNewswire/ -- ArchAngel Partners Inc., a prominent executive protection and security consultation firm, serving elite celebrity clients and business professionals nationwide, announces the opening of its sister company Poway Weapons & Gear.
...
The Walt Disney Company China Announces Local Adaptation 'Disney High School Musical: China'
BURBANK, Calif. and SHANGHAI, Nov. 22 -- The Walt Disney Company in China today announced the start of production on its third local co-production project in just two years, "Disney High School Musical: China." Working with local partners Sha...
|
|
|
|
|
|
|
|
|