SGX Resources Completes Terms of Shoreacres Option Agreement and Acquires Mineral Property
29 Maio 2014 - 5:45PM
Marketwired Canada
This press release is not for dissemination in the United States or for
distribution to U.S. news wire services
Dale Ginn, Chief Executive Officer of SGX Resources Inc. (the "Company") (TSX
VENTURE:SXR), is pleased to announce that the Company has completed all cash
payments and share issuances required pursuant to the option agreement (the
"Option Agreement") dated May 17, 2010 between the Company and Shoreacres
Exploration Limited ("Shoreacres") to earn its 100% interest in leased claim 114
(the "Mineral Property") located in Sothman Township in the Timmins, Ontario
area. In accordance with the terms of the Option Agreement, Shoreacres will
transfer ownership of the Mineral Property to the Company within 30 days.
Shoreacres shall retain a 2% net smelter returns royalty on the Mineral Property
in accordance with the terms of the Option Agreement.
The completion of this option agreement solidifies the Company's land position
around its Edleston gold deposit located south of Timmins between the Cote Lake
deposit and the Young Davidson mine. The Company's intent is to extend the known
limits of the deposit and to more broadly explore the land package based on
geological signatures and patterns identified while discovering and expanding on
the Edleston deposit.
A copy of this press release will be made available on the Company's website and
will be filed with SEDAR.
Neither the 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 the contents of this News
Release.
The information in this release may contain forward-looking information under
applicable securities laws. This forward-looking information is subject to known
and unknown risks, uncertainties and other factors that may cause actual results
to differ materially from those implied in the forward-looking information.
FOR FURTHER INFORMATION PLEASE CONTACT:
SGX Resources Inc.
Dale Ginn
CEO
(204) 794-5818
SGX Resources Inc.
Investor Relations
1-888-749-4621
www.sgxresources.com
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