Blue River Resources Acquires Additional Castle Property
30 November 2011 - 10:00PM
Marketwired
Blue River Resources Ltd. (TSX VENTURE:BXR) ("Blue River")
announces that it has entered into a property acquisition agreement
dated November 28, 2011 to acquire 9 claims totaling 608 hectares.
The claim group is contiguous to Blue River's Castle Copper Project
near Princeton BC, which is currently awaiting assays from the
recently completed 2011 diamond drill program.
Griffin Jones, President, states, "This proposed acquisition,
which will expand Blue River's Castle property to approximately
7,280 hectares (18,000 acres), is a strategic move to continue to
consolidate its land position and presence in the Castle Project
area, 25 km north of Copper Mountain Mining's operating copper
mine."
Under the terms of the agreement, Blue River has agreed to issue
100,000 shares to the vendor upon approval by the TSX Venture
Exchange and 100,000 shares every six months for a total of 300,000
shares. On closing, Blue River has also agreed to grant the vendor
a 2% net smelter royalty, of which 1% can be purchased back by Blue
River for $1.0 million. The closing of the acquisition is subject
to certain conditions, including approval from the TSX Venture
Exchange. Shares issued to the vendor will include a four month
hold period as required in accordance with applicable securities
laws.
ON BEHALF OF THE BOARD
BLUE RIVER RESOURCES LTD.
Griffin Jones, President, Director
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.
Contacts: Blue River Resources Ltd. Griffin Jones President,
Director (604) 682-7339www.blueriv.com
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