Thundermin Completes Sale of a 6% Net Profits Interest in Certain Saskatchewan and Manitoba Exploration Properties to Foran
03 Février 2014 - 2:30PM
Marketwired
Thundermin Completes Sale of a 6% Net Profits Interest in Certain
Saskatchewan and Manitoba Exploration Properties to Foran
TORONTO, ONTARIO--(Marketwired - Feb 3, 2014) - Thundermin
Resources Inc. ("Thundermin") (TSX-VENTURE:THR) announces that it
has completed the sale to Foran Mining Corporation ("Foran")of a 6%
net profits interest ("NPI") that Thundermin held in certain of
Foran's mineral exploration properties located in Saskatchewan and
Manitoba. This transaction was previously announced by Thundermin
in a news release dated January 9, 2014.
As per the terms of
the transaction, Foran has paid $50,000 in cash and issued 100,000
common shares of Foran to Thundermin. The common shares of Foran
are subject to a customary four month hold period.
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 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 seven base metal and gold
properties located in 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.
Forward-Looking
Statements
This news release
may contain "Forward-Looking Statements" that involve risks and
uncertainties, such as statements of Thundermin's plans,
objectives, strategies, intentions and expectations. The words
"potential," "anticipate," "forecast," "believe," "estimate,"
"expect," "may," "project," "plan," and similar expressions are
intended to be among the statements that identify "Forward-Looking
Statements". Although Thundermin believes that its expectations
reflected in these "Forward-Looking Statements" are reasonable,
such statements may involve unknown risks, uncertainties and other
factors disclosed in our regulatory filings that can be viewed on
the SEDAR website at www.sedar.com. For us, uncertainties arise
from the behavior of financial and metals markets and from numerous
other matters of national, regional, and global scale, including
those of an environmental, climatic, natural, political, economic,
business, competitive, or regulatory nature. These uncertainties
may cause our actual future results to be materially different than
those expressed in our "Forward-Looking Statements". Although
Thundermin believes the facts and information contained in this
news release to be as correct and current as possible, Thundermin
does not warrant or make any representation as to the accuracy,
validity or completeness of any facts or information contained
herein and these statements should not be relied upon as
representing its views subsequent to the date of this news
release.
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
John B. HeslopPresident & CEOThundermin(647) 344-1167James
W.
GillChairmanThundermin416-450-1851info@thundermin.comwww.thundermin.com
Thundermin Resources Inc. (TSXV:THR)
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