Trueclaim Exploration Inc. Earns Working Interest in Scadding Project
21 Abril 2011 - 10:28AM
Marketwired
Trueclaim Exploration Inc. (the "Company") (TSX VENTURE:
TRM)(OTCQX: TRMNF) has completed its earn-in of a 51% working
interest in the Scadding Gold Property northeast of Sudbury,
Ontario (the "Property"). The Company is pleased to reach this
milestone well in advance of the August 2012 deadline set out in
the option agreement whereby the Company acquired its interest in
the Property from Currie Rose Resources Inc. ("Currie Rose").
The Company can increase its interest in the Property from 51%
to 100% by paying Currie Rose the amount of $2,000,000 in cash on
or before commencement of commercial production on the Property.
The Property is subject to 3% net smelter return royalty.
The Company is continuing its 8,000 metre diamond drilling
program on the Property and expects to announce another tranche of
assay results early next week. The Company is happy with the
progress being made and the enhanced understanding of the potential
for mineralization being obtained from this program. SRK
Consultants (Canada) Inc. is working with the Company's geological
team to plan orientation and delineation drilling to assist the
preparation of an NI43-101 compliant mineral resource.
The Company is pleased that the first airing of a Today in
America segment featuring the Company and narrated by Terry
Bradshaw will be on the Fox Business Network starting Saturday,
April 23, 2011 at 4pm EST.
The Company's new website is being launched today. Please visit
us at www.trueclaimexploration.com. We are confident that this new
site will enable investors to get a better understanding of the
company and the potential of its properties.
We seek Safe Harbour.
TRUECLAIM EXPLORATION INC.
John Carter, President
Technical information in this news release has been reviewed by
Mr. Bob Komarechka, P. Geo., acting as a consulting Project
Geologist for the Company, and prepared in accordance with Canadian
regulatory requirements as set out in National Instrument 43-101.
Company Management, which takes full responsibility for content,
prepared this news release.
This news release contains "forward-looking information" (within
the meaning of applicable Canadian securities laws) and
"forward-looking statements" (within the meaning of the U.S.
Private Securities Litigation Reform Act of 1995). Such statements
or information are identified with words such as "anticipate",
"believe", "expect", "plan", "intend", "potential", "estimate",
"propose", "project", "outlook", "foresee" or similar words
suggesting future outcomes or statements regarding an outlook. Such
statements include, among others, those concerning the exploration
program(s). All statements in this news release, other than
statements of historical facts, which address future production,
reserve potential, exploration activities, financing plans,
objectives or goals, and events or developments that the Company
expects, are forward-looking statements. Since forward-looking
statements address future events and conditions, by their very
nature, they involve inherent risks and uncertainties. Such
forward-looking information or statements are based on a number of
risks, uncertainties and assumptions which may cause actual results
or other expectations to differ materially from those anticipated
and which may prove to be incorrect. Assumptions have been made
regarding, among other things, management's expectations regarding
its ability to complete its exploration and development work as
expected. Actual results could differ materially due to a number of
factors, including, without limitation, operational risks in the
completion of the Company's continued development work, technical,
safety or regulatory issues, market prices, exploitation and
exploration successes, continued availability of capital and
financing, and general economic, market or business conditions.
Although the Company believes that the expectations reflected in
the forward-looking information or statements are reasonable,
prospective investors in the Company's securities should not place
undue reliance on forward-looking statements because the Company
can provide no assurance that such expectations will prove to be
correct. Actual results or developments may differ materially from
those projected in the forward-looking statements. Such risks
include expectations that may be raised by discussing potential
mine types and by comparing the Company's projects to other
projects. Also, in order to proceed with the Company's exploration
and acquisition plans, additional funding is necessary and,
depending on market conditions, this funding may not be forthcoming
on a schedule or on terms that facilitate the Company's plans.
Forward-looking information and statements contained in this news
release are as of the date of this news release and the Company
assumes no obligation to update or revise this forward-looking
information and statements except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) has reviewed or accepts responsibility for the
adequacy or accuracy of this release.
Contacts: Trueclaim Exploration Inc. John Carter President
519-913-8008 1-888-686-1405 (FAX) www.trueclaimexploration.com
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