Tres-Or Options Pascalis Area Gold Properties to Pershimco
30 Mars 2011 - 11:30AM
Marketwired
Tres-Or Resources Ltd. ("Tres-Or") (TSX VENTURE: TRS) and Pershimco
Resources Inc. ("Pershimco") (TSX VENTURE: PRO)(FRANKFURT: BIZ) are
pleased to announce an Option Agreement (the "Agreement") for
Pershimco to acquire six (6) Pascalis area claim blocks that
surround Pershimco's Courville Gold Project in the Val
d'Or-Malartic Gold Mining Camp. The Pascalis area claims and
showings are located approximately 45 km northeast of Val-d'Or
within the Abitibi belt of northwestern Quebec and include several
historic gold showings reported from previous exploration work
programs. For details refer to map of the Pascalis area claims
http://www.tres-or.com/images/gallery/pascalis.jpg
Under the terms of the Agreement, Pershimco can earn up to 100%
of the Pascalis area properties over a three (3) year period
subject to a 2.0% Net Smelter Return (NSR) where Pershimco can
buy-back 1.0% NSR for one million and retains the first right to
buy-back the remaining 1.0% NSR. The properties under option are
jointly held by Tres-Or and its 50% partner, Sementiou Inc.
In order to complete the earn-in, Pershimco has agreed to pay
$50,000 cash on signing and issue 50,000 shares of Pershimco
subject to Exchange approval of the Agreement. Pershimco has also
committed to spend $500,000 in exploration work over a 24 month
period. In addition, 12 months after signing of the Agreement,
Pershimco has agreed to pay $50,000 cash and issue 50,000 shares
and in 24 months, will pay $100,000 cash and issue 100,000 common
shares of Pershimco. To complete the earn-in, Pershimco has agreed
to spend a further $500,000 in exploration work to acquire a 100%
interest subject to a 2.0 % NSR.
The Agreement is subject to TSX Venture Exchange approvals.
On behalf of the Board of Directors,
Laura Lee Duffett, President and CEO
About Tres-Or Resources Ltd.:
Tres-Or Resources Ltd. (TSX VENTURE: TRS) is a Canadian resource
company exploring gold, base and precious metals and diamond
projects in Ontario and Quebec. Tres-Or's experienced team has
proven success in exploration through to discovery and mine
development. Additional information related to the Company is
available at: www.tres-or.com.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as the term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy of accuracy of
this news release.
Contacts: Tres-Or Resources Ltd. Dominic Spedaliere Corporate
Communications 604-688-8700 604-688-8884 (FAX) info@tres-or.com
www.tres-or.com
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