Thundermin Agrees to Sell a 6% Net Profits Interest in Certain Saskatchewan and Manitoba Exploration Properties to Foran
09 Janvier 2014 - 3:00PM
Marketwired
Thundermin Agrees to Sell a 6% Net Profits Interest in Certain
Saskatchewan and Manitoba Exploration Properties to Foran
TORONTO, ONTARIO--(Marketwired - Jan 9, 2014) - Thundermin
Resources Inc. ("Thundermin") (TSX-VENTURE:THR) announces that it
has agreed to sell to Foran Mining Corporation ("Foran") (the
"Agreement") a 6% net profits interest ("NPI") that Thundermin
holds in certain of Foran's mineral exploration properties located
in Saskatchewan and Manitoba. In consideration for the NPI, Foran
has agreed to pay $50,000 in cash and issue 100,000 common shares
of Foran to Thundermin.
The Agreement is
subject to approval of the TSX Venture Exchange and resale
restrictions and hold periods may be imposed by the TSX Venture
Exchange on the Foran common shares to be issued under this
Agreement.
About Thundermin
Thundermin is a
Canadian-based mineral exploration company focused on the
exploration for and the discovery of economically viable base metal
and gold deposits in Canada. Thundermin has an interest in, or the
right to earn an interest in, 12 base metal and gold properties in
Canada. The most significant of these is the Little Deer copper
property in the Springdale area of Newfoundland that hosts the
Little Deer and Whalesback copper deposits. Thundermin and 50%
joint venture partner Rambler Metals and Mining Canada Limited and
have outlined Indicated Resources of 1,911,000 tonnes grading 2.37%
copper and Inferred Resources of 3,748,000 tonnes grading 2.13%
copper at Little Deer and Indicated Resources of 797,000 tonnes
grading 1.67% copper and Inferred Resources of 443,000 tonnes
grading 1.57% copper at Whalesback. A positive Preliminary Economic
Assessment undertaken by P&E Mining Consultants Inc. was
announced for Little Deer, on a stand- alone basis, in November
2011.
Thundermin owns a
100% interest in the Lebel Township gold property, which is located
on the Kirkland Lake Main Break in the prolific Kirkland Lake gold
camp. Thundermin has royalty interests in 12 base metal and gold
properties located in Manitoba, Saskatchewan, British Columbia and
Quebec, the most significant being a 2.5% net smelter return
royalty in the Pelletier Lake gold deposit which is under option to
QMX Gold Corporation. The Pelletier Lake property is currently in
arbitration with Thundermin aiming to regain full ownership of the
property. Thundermin also has various shareholdings in twelve other
junior resource companies that are actively exploring for base
metal, gold, chrome and diamond deposits in Canada.
For further information on Thundermin Resources Inc. please
visit Thundermin's website at www.thundermin.com or the SEDAR
website at www.sedar.com.
Thundermin Resources Inc.John B. HeslopPresident & CEO(647)
344-1167Thundermin Resources Inc.James W.
GillChairman416-450-1851info@thundermin.comwww.thundermin.com
Thundermin Resources Inc. (TSXV:THR)
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