Trueclaim Exploration Inc. Signs Assignment and Assumption Agreement for Mineral Properties in Ontario, Quebec and Newfoundland
10 February 2012 - 2:29PM
Marketwired
Trueclaim Exploration Inc. (TSX VENTURE:TRM)(OTCQX:TRMNF)(the
"Company"), an explorer and developer of precious and base metals
projects, is pleased to announce that it has signed an agreement
with Northern Skye Resources Inc. ("Northern Skye") whereby
Northern Skye assumes all obligations and payments under the
following mineral property options (the "Optioned Properties") held
by the Company:
a. "Berry-Desboues Option Agreement" announced by the Company on August 17,
2011;
b. "Boston-McElroy Option Agreement" announced by the Company on September
7, 2011;
c. "Cook-Guibord Option Agreement" announced by the Company on September 7,
2011;
d. "Hebecourt Option Agreement" announced by the Company on August 17,
2011;
e. "Linear Option Agreement" announced by the Company on June 16, 2011.
As consideration for assigning the Option Agreements to Northern
Skye, Northern Skye agrees:
i. to issue to the Company three million (3,000,000) common shares in the
capital of Northern Skye;
ii. to pay in cash such amounts representing the actual cash expenditures
already paid by the Company in respect of the acquisition of its option
rights in and to each of the Optioned Properties
iii.the Company retains a ten percent (10%) carried working interest (the
"Retained Interest") in each of the Optioned Properties
iv. Northern Skye shall have the right, but not the obligation, to purchase
at any time and from time-to-time in increments of not less than one
percent (1%) up to the entire Retained Interest in any or all of the
Optioned Properties for consideration of one million dollars
($1,000,000) per one percent (1%) interest.
The transaction is subject to acceptance by the TSX Venture
Exchange.
We seek safe harbour.
John Carter, President
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 Option
Agreements and the assignment agreement. 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) accepts responsibility for the adequacy or
accuracy of this news release.
Contacts: Trueclaim Exploration Inc. John Carter President
519-913-8008 1-888-686-1405 (FAX) www.trueclaim.ca
New Wave (PK) (USOTC:TRMNF)
Historical Stock Chart
From Jan 2025 to Feb 2025
New Wave (PK) (USOTC:TRMNF)
Historical Stock Chart
From Feb 2024 to Feb 2025