Lund Gold Ltd.: Option Agreement With Noront Resources Ltd. to Aquire 50% of 13 Claim Blocks in "Ring of Fire"
28 Fevereiro 2008 - 11:15AM
Marketwired
VANCOUVER, BRITISH COLUMBIA ("Lund") is pleased to report that
approval has been received from the TSX Venture Exchange pursuant
to an option agreement between Lund and Noront Resources Ltd.
("Noront"), a TSX Venture listed company, whereby Lund has been
granted the option to acquire a 50% legal and beneficial interest
in 13 claim blocks covering a total of 169 units in the 'Ring of
Fire', McFauld's Lake, Ontario, near Noront's nickel copper
discovery.
Pursuant to the option agreement, Lund has issued to Noront an
aggregate of 400,000 common shares of Lund, which are subject to a
four month hold period expiring on June 28, 2008. Lund is required
to incur aggregate exploration expenditures on the property of $3.5
million over a three year period. Upon Lund's earning its 50%
interest in the property, Lund and Noront shall form a joint
management committee to further develop the property as a joint
venture with Noront continuing to act as the operator.
Chet Idziszek, President of Lund, stated, "Noront's recent
announcement of a second massive sulphide discovery at its Double
Eagle project provides further evidence of the potential for
numerous ore deposits in the McFauld's Lake district. According to
Noront, preliminary data from an airborne geophysical survey of the
ground we have optioned are expected shortly, and will be an
important input to our $1,000,000 program this year."
To find out more about Lund Gold Ltd. (TSX VENTURE: LGD), visit
our website at www.lundgold.com.
On behalf of the Board of Directors of LUND GOLD LTD.
Chet Idziszek, President
Cautionary Statement
This document contains "forward-looking statements" within the
meaning of applicable Canadian securities regulations. All
statements other than statements of historical fact herein,
including, without limitation, statements regarding exploration
results and plans, and our other future plans and objectives, are
forward-looking statements that involve various risks and
uncertainties. Such forward-looking statements include, without
limitation, estimates of exploration investment and the scope of
exploration programs. There can be no assurance that such
statements will prove to be accurate, and future events and actual
results could differ materially from those anticipated in such
statements. Important factors that could cause actual results to
differ materially from our expectations are disclosed in the
Company's documents filed from time to time via SEDAR with the
Canadian regulatory agencies to whose policies we are bound.
Forward-looking statements are based on the estimates and opinions
of management on the date the statements are made, and we do not
undertake any obligation to update forward-looking statements
should conditions or our estimates or opinions change.
Forward-looking statements are subject to risks, uncertainties and
other factors, including risks associated with mineral exploration,
price volatility in the mineral commodities we seek, and
operational and political risks.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy and accuracy of this release.
Contacts: Lund Gold Ltd. David Scott Investor Relations (604)
331-8772 Toll Free 1-877-529-8475 (604) 331-8773 (FAX) Website:
www.lundgold.com
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