RJK Completes 2012 Drilling Season, Acquires 100% of Blackwater
West and Blackwater East
KIRKLAND LAKE, ON, Nov. 29, 2012 /CNW/ - RJK Explorations Ltd.
(RJX.A: TSX-V) ("RJK") wishes to announce that the Company has
completed drilling for the 2012 season on the Blackwater East and
West properties, located in the Blackwater Gold Camp approximately
100 km southwest of Vanderhoof,
B.C. These two claim groups are contiguous to the east and
to the west, respectively, of New Gold Inc.'s Blackwater bulk
tonnage gold deposit currently shown at 9.6 million ounces gold
(indicated and inferred) and 58.4 million ounces silver (indicated
and inferred).
RJK has submitted samples from all the 2012
drilling for assay and will report the results upon receipt of all
the assays.
RJK had initially applied to the TSX-V, and had
received approval for an extension of the final property option
cash payment due on December 1, 2012
for the Blackwater West claim group. Upon completion of the initial
drill holes on Blackwater West, RJK has now decided to proceed with
and pay the final property option cash payment prior to
December 1, 2012.
RJK is pleased to announce that it has now made
all of the final property option cash and share payments and
completed all of the required exploration expenditures in order to
acquire 100% ownership of both the Blackwater East and Blackwater
West properties, leaving a 2% N.S.R. on both claim groups.
Forward Looking Statements: includes statements contained in
this news release regarding discussions in respect of a potential
acquisition and funding arrangement and RJK's expectations
regarding same and the trading of its shares on the TSX Venture
Exchange. This forward-looking information reflects the current
expectations or beliefs of RJK based on information currently
available to it. Forward-looking information is subject to a number
of risks and uncertainties that may cause the actual results of RJK
to differ materially from those discussed in the forward-looking
information, and even if such actual results are realized or
substantially realized, there can be no assurance that they will
have the expected consequences to, or effects on, RJK. Factors that
could cause actual results or events to differ materially from
current expectations include, but are not limited to: the failure
of RJK to enter into an agreement in respect of such arrangement;
delays in obtaining or failure to obtain any required regulatory
and/or shareholder approval; and other factors. Any forward-looking
information speaks only as of the date on which it is made.
Although RJK believes that the assumptions inherent in the
forward-looking information are reasonable, forward-looking
information is not a guarantee of future performance and
accordingly undue reliance should not be put on such statements due
to the inherent uncertainty therein.
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.
Website: www.rjkexplorations.com
SOURCE RJK Explorations Ltd.