Vancouver, BC / November 30, 2015 – Durango Resources Inc. (the “Company” or “Durango“) is pleased to provide an update in relation to its grant from the Institut National de la Recherche Scientifique (“INRS”) of Quebec for the deep geophysical surveys on Durango’s wholly owned Decouverte (Discovery) property.
The Decouverte property is located in the Frotet-Evans greenstone belt in northern Quebec approximately 100 km to the northwest of the town of Chibougamau, neighbouring on the east side of Osisko Gold’s Assinica property (TSX-OR), 10km southwest of Beaufield Resources Inc.’s Troilus-Tortigny Property (TSX.V-BFD) and 60 km to the southwest of the former-producing Troilus mine.
The INRS grant on the Decouverte property was used to focus on defining the electromagnetic (EM) anomalies from Durango’s Dighem airborne survey, which may be indicative of massive sulphide mineralization. The field exploration program conducted in November 2015 included magnetometric, gravimetric and audiomagnetotellurics surveys along kilometer long sections which intersected different geological structures of interest for mineral exploration.
One section examined, crosses a magnetic high and a strong conductor hosted in a basaltic unit which is probably hosting an iron formation or possibly volcanogenic mineralization. Preliminary interpretation of the audiomagnetotellurics data shows distinct geolectric features up to 2,000m (depth).
Rock sampling was conducted to allow for petrophysics laboratory study on the Decouverte rocks. All geophysical, petrophysical and geological data will be examined over the next few months and will be used to develop a model of the deep geology of the property. Additional information will be released as it becomes available.
Marcy Kiesman, CEO, states, “The Decouverte property remains a compelling project for Durango due to its volcano-sedimentary environment and structural geology which increases the potential for a significant gold and /or VMS deposit. It is noteworthy that there are three important massive sulphide showings to the west (Fallara, Rapides Assinica and Lucky Strike) and to the East there are VMS deposits with proven resources (Tortigny, Lessard, De Maures, Moleon). Osisko neighbours to the west of Decouverte and is also exploring mindful that VMS deposits often occur in clusters which means the discovery of one may indicated that there are others nearby.”
The technical information in this news release has been reviewed and approved by Marc Richer-Lafleche, P.Geo QC, a qualified person as defined in National Instrument 43-101.
About Decouverte
The Decouverte property is in the Frotet-Evans greenstone belt approximately 60 kilometres southwest of the former Troilus copper-gold mine, which produced over two million ounces Au and 50,000 tonnes Cu from 1997 to 2010. The property covers approximately 5,900 hectares covering a synclinal fold nose of Archean units transected by a major northeast-trending shear zone. Durango carried out a helicopter-borne DIGHEM EM/magnetic airborne geophysical survey on the property in 2011 (NR Nov. 24, 2011) and soil geochemistry and prospecting in 2013 and 2014 targeting areas identified in the airborne survey. The geological setting is mainly mafic volcanics (basalts/andesites), in places strongly sheared, cut by pegmatitic granitic units, and significant sedimentary, oxide and sulphide facies iron formation units. Alteration including silica, sericite and iron carbonate is noted. Significant soil values included 174 ppb gold, 0.66 ppm silver, 150 ppm nickel, 200 ppm copper and 240 ppm barium. Chip/channel rock samples gave values of 7.6 g/t gold and 6.24 g/t gold hosted in narrow quartz veins in mafic volcanics, in the contact area with the pegmatitic granite. The property is located 100 kilometres north of Chibougamau, Quebec and benefits from favourable infrastructure, including road accessibility, being 10 kilometres from Route du Nord, and a power line that bisects the property.
PHASE I travaux geophysiques au PROPRIETE DECOUVERTE REMPLI
Vancouver, Colombie-Britannique / TheNewswire / Novembre 30, ici a 2015 – Ressources Durango Inc. (la “Societe” ou “Durango”) est heureuse de fournir une mise a jour par rapport a sa subvention de l’Institut national de la recherche scientifique (<<INRS>>) de Quebec pour les leves geophysiques profondes sur Decouverte (Discovery) la propriete a part entiere de Durango.
La propriete Decouverte est situe dans la ceinture de roches vertes de Frotet-Evans dans le nord du Quebec a environ 100 km au nord-ouest de la ville de Chibougamau, voisin sur le cote est de la propriete Assinica d’Osisko Gold (TSX-OR), 10 km sud-ouest de Beaufield Resources Inc. Troilus-Tortigny propriete (TSX.V-BFD) s >>et a 60 km au sud-ouest de l’ancienne mine Troilus-production.
La subvention de l’INRS sur la propriete Decouverte a ete utilise pour se concentrer sur la definition des electromagnetique (EM) des anomalies de l’enquete Dighem aeroportee de Durango, qui peut etre indicatif de mineralisation de sulfures massifs. Le programme d’exploration sur le terrain menee en Novembre 2015 inscrits, les etudes gravimetriques et magnetometriques audiomagnetotellurics long kilometre de long qui a recoupe sections differentes structures geologiques d’interet pour l’exploration miniere.
Une section a examine, traverse une haute magnetique et un conducteur forte heberge dans une unite basaltique qui est sans doute l’hote d’une formation de fer ou la mineralisation volcanogene eventuellement. L’interpretation preliminaire des donnees montre geolectric audiomagnetotellurics distincte offre jusqu’a 2000 m (profondeur).
Echantillonnage de roches a ete realisee pour permettre l’etude de laboratoire petrophysique sur les rochers Decouverte. Toutes les donnees geophysiques, petrophysiques et geologiques seront examinees au cours des prochains mois et seront utilises pour developper un modele de la geologie profonde de la propriete. Des informations supplementaires seront rendues publiques des qu’elles seront disponibles.
Marcy Kiesman, chef de la direction, les etats, “La propriete decouverte reste un projet convaincant pour Durango en raison de son environnement volcano-sedimentaire et la geologie structurale qui augmente le potentiel pour une medaille d’or significative et / ou gisement de SMV. Il est a noter qu’il ya trois importante massif occurrences de sulfures a l’ouest (Fallara, Rapides Assinica et Lucky Strike) et a l’Est il ya des gisements de SMV avec des ressources prouvees (Tortigny, Lessard, de Maures, Moleon). Voisins Osisko a l’ouest de decouverte et explore egalement conscient que VMS depots se produisent souvent en grappes qui signifie que la decouverte de l’un peut a indique qu’il y en a d’autres a proximite.”
L’information technique contenue dans ce communique de nouvelles a ete examine et approuve par Marc Richer-Lafleche, geologue QC, une personne qualifiee tel que defini dans la Norme canadienne 43-101.
A propos Decouverte
La propriete est decouverte dans la ceinture de roches vertes de Frotet-Evans environ 60 kilometres au sud-ouest de l’ancienne mine Troilus de cuivre-or, qui a produit plus de deux millions onces d’or et 50.000 tonnes Cu de 1997 a 2010. La propriete couvre environ 5900 hectares couvrant un pli synclinal nez d’unites archeennes sectionnes par une zone de cisaillement majeure direction nord-est. Durango a effectue une heliporte Dighem EM / magnetique du leve geophysique aeroporte sur la propriete en 2011 (NR 24 novembre 2011) et de la geochimie des sols et de prospection en 2013 et 2014 domaines ciblant identifie dans le leve aeroporte. Le contexte geologique est principalement volcanites mafiques (basaltes / andesites), dans des endroits fortement cisaillees, coupees par des unites pegmatitiques granitiques et sedimentaires significative, l’oxyde et le sulfure de fer au facies des unites de formation. Alteration y compris la silice, sericite et de carbonate de fer est note. Les valeurs du sol importantes comprises 174 ppb d’or, 0,66 ppm d’argent, 150 ppm de nickel, de 200 ppm de cuivre et 240 ppm de baryum. Chip echantillons / canal de rock ont donne des valeurs de 7,6 g / t d’or et 6,24 g / t d’or heberge dans des veines de quartz etroites dans volcanites mafiques, dans la zone de contact avec le granite pegmatitiques. La propriete est situee a 100 kilometres au nord de Chibougamau, Quebec et les avantages d’une infrastructure favorable, y compris l’accessibilite routiere, etant de 10 kilometres de la route du Nord, et une ligne electrique qui traverse la propriete.
About Durango
Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company has a 100% interest in the Mayner’s Fortune and Smith Island limestone properties in northwest British Columbia, the Decouverte and Trove gold properties in the Abitibi Region of Quebec, and the NMX East lithium property near the Whabouchi mine in Quebec, as well as three sets of claims in the Labrador nickel corridor.
For further information on Durango, please refer to its SEDAR profile at www.sedar.com.
Marcy Kiesman, Chief Executive Officer
Telephone: 604.428.2900
Facsimile: 888.266.3983
Email: [email protected]
Website: www.durangoresourcesinc.com
Forward-Looking Statements
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs, execution of a definitive agreement, raising of funds, obtaining regulatory approvals and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties relating to Durango, please refer to the Company’s prospectus filed on its SEDAR profile at www.sedar.com.
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.
Montreal, Quebec / November 26, 2015 – St-Georges Platinum and Base Metals Ltd. (OTC: SXOOF) (CSE: SX) (FSE: 85G1) is pleased to announce that it has signed a binding letter of intent with Strategic Metallurgy Pty Ltd. of Australia and its president Mr. Gary Johnson.
The letter of intent executed this week creates a partnership between St-Georges and Strategic Metallurgy in the development and commercialization of new mining extraction technologies aimed to result in cleaner and more environmentally friendly extraction processing technology and significantly lower nickel extraction costs in future generation mills.
Technology Focus
St-Georges will move its focus from mining exploration to mining technology research & development with the goal of creating a basket of patented technologies marketable in the near future. The Company will create a subsidiary that will be co-managed by Gary Johnson and Enrico Di Cesare, a metallurgist and director of the Company, which will have the mandate to advance nickel-related extraction research projects.
The near-term research program will target these initial sets of processing technologies already identified by Strategic Metallurgy:
– Pre-concentration flotation of difficult ore under modified chemistry conditions. Possible step change in recovery-grade performance for nickel sulfide flotation;
– Upgrading of nickel laterites by the systematic elimination of gangues materials. Mineralogy driven with hydrometallurgy approach that reduces drastically the cost of iron handling in the process;
– High-pH leaching of high MgO sulfide ores in the presence of complexing agents;
– Treating pyrrhotite concentrates already mined and milled (0.6-1.0% Ni) with hydrometallurgy
Enrico di Cesare stated, “The rise in extraction costs, stringent environmental emission targets and the drop in metal prices have triggered a renewed interest in cost-effective and green processing technologies with existing metal producers (…) our goal is to position ourselves as an important provider of innovative solutions that will enable cash-restricted companies to improve their bottom lines with their current operations, find solutions for minerals that are currently seen as ‘difficult’ and position ourselves as a provider of environmentally friendly processing solutions.”
Financing
Strategic Metallurgy has agreed to put in place a collateralized line of credit (“CLOC”) in favor of St-Georges for an amount up to $1 million CAD. The collateral used for the CLOC will be created in the form of an equity subscription by Strategic Metallurgy for 10,800,000 units (“Units”) at a price of $0.065 per Unit, for gross proceeds to St-Georges of $702,000. Each Unit will include a common share in the capital of the Company at a deemed price of $0.065 and one common share purchase warrant (“Warrant”). Each Warrant will entitle its holder to purchase one common share at a price of $0.10 for a period of three years from closing; the Warrants will be transferable. The Warrants will be distributed to the shareholders of Strategic Metallurgy after their regulatory hold period of four months. The common shares will be held in escrow, with such escrow agent to be appointed by St-Georges.
The CLOC will only be used for R&D expenses. St-Georges will have the choice to repay the CLOC either in cash or by letting Strategic Metallurgy receive the shares held in escrow.
ON BEHALF OF THE BOARD OF DIRECTORS
“Frank Dumas”
FRANK DUMAS, President
About St-Georges
St-Georges is working at developing innovative environmentally friendly mining extraction processing technologies and tailing reclamation solutions. The Company focuses on Platinum-Palladium, Copper-Cobalt & Nickel Extraction Processes. The Company also explores for Nickel on the Julie Nickel Project on Quebec’s North Shore. Headquartered in Montreal, St-Georges’ stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1. For additional information, please visit our website at www.stgeorgesplatinum.com
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
Ronan Levy, with the Canadian Cannabis Clinic, discusses the decision to allow medical marijuana users to smoke virtually anywhere.
TORONTO — Medical marijuana users in Ontario are now legally able to use vaporizers just about anywhere in the province.
The Liberal government quietly exempted them this week from a law that bans the use of e-cigarettes anywhere regular cigarettes are prohibited. It means medical marijuana users can vaporize in restaurants, at work or on playgrounds.
Associate Health Minister Dipika Damerla said under the exemption for medical marijuana users, employers or restaurant owners could still ban them from smoking on the premises.
“If it’s bothering somebody, find another place to go and smoke,” she said Wednesday.
“Somebody who really needs it for medical reasons may need to be able to smoke it or vape it. On the other hand, we are very sensitive to people around them. It really is about balancing those rights.”
The exemption is about letting people who are very sick or in a lot of pain to take their prescribed medication when they need to, Damerla said.
Jonathan Zaid, the founder of Canadians for Fair Access to Medical Marijuana, said the new regulations don’t change much since medical marijuana users could already smoke “pretty much” anywhere before the e-cigarette law was passed in May.
“Public places like parks or sidewalks are for sure allowed now in the regulations,” he said.
“So it doesn’t really mean anything new because it has always been allowed. There haven’t been regulations pertaining to vaporizers in the past, but what it does mean is the provincial government is taking a step forward and actually recognizing medical marijuana as a legitimate medicine.”
But Zaid highly doubts the change in regulations will mean medical marijuana users flooding playgrounds and restaurants to vaporize.
“There’s one thing to have a right and there’s another thing to abuse it,” said Zaid, who uses medical marijuana to treat chronic headaches.
“Everyone that I know, including myself, who uses medical cannabis is discreet about it. They just want to use it as their medicine to feel better, to live a better quality of life and they don’t want to be harassed about it, so that also means they’re not typically likely to do it in a very public space.”
Progressive Conservative Leader Patrick Brown said he didn’t want to “make a lot of political hay” over the exemption, but he urged the Liberal government to make sure the new provincial rules are in line with what municipalities have established.
NDP Leader Andrea Horwath didn’t sound especially shocked by the exemption either.
When asked what she would do if someone was smoking marijuana next to her at a restaurant, she laughed and said, “I’ll probably eat more.”
BY BEING A DOMESTIC FERTILIZER PRODUCER, DUSOLO IS ABLE TO OFFER A PREMIUM PRODUCT AT A SIGNIFICANTLY LOWER COST
MANY NEAR TERM CATALYSTS EXPECTED
Company entered into an agreement with Mineração Batalha e Participações Ltda. to acquire the São Roque Phosphate Project in southeast Brazil.
The Project’s highlights include:
BRAZIL’S DOMESTIC FERTILIZER SUPPLY DOES NOT MEET CURRENT DEMANDS
FLAGSHIP ASSET LOCATED IN ONE OF THE WORLD’S LARGEST AGRICULTURAL REGIONS
STRONG DEMAND FOR DANF EXISTS IN THE REGION
Within a 500 km radius of DuSolo’s processing facility:
TORONTO, ONTARIO–(Nov. 25, 2015) – A three judge panel of the Ontario Court of Appeal has reserved its decision following arguments presented today by Noront Resources Ltd. and the Attorney General of Ontario to the appeal of KWG Resources Inc. (CSE:KWG)(FRANKFURT:KW6) (“KWG”) subsidiary Canada Chrome Corporation.
The Court of Appeal had previously on January 27, 2015 issued an Order granting leave to appeal the decision of the Divisional Court of the Ontario Superior Court of Justice released July 30, 2014. As reported on August 1, 2014, the Divisional Court decision ruled that CCC’s consent should be waived in an application for an easement to build a road over its mining claims.
About KWG:
KWG has a 30% interest in the Big Daddy chromite deposit and the right to earn 80% of the Black Horse chromite where resources are being defined. KWG also owns 100% of CCC which has staked claims and conducted a surveying and soil testing program, originally for the engineering and construction of a railroad to the Ring of Fire from Aroland, Ontario. KWG subsequently acquired patent interests, including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. The company has determined that the reduction method can be employed to metalize finely ground chromite which could also be recovered from slurry delivered to Aroland in an underground pipeline constructed within the CCC claims.
Shares issued and outstanding: 845,147,718
KWG Resources Inc.
Bruce Hodgman
Vice-President
416-642-3575
[email protected]
TORONTO, ONTARIO–(Nov. 24, 2015) – KWG Resources Inc. (CSE:KWG) (“KWG”) and China Railway First Survey & Design Institute Group Co., Ltd. (“FSDI”) have signed a Confidentiality and Non-Disclosure Agreement arranged by Golden Share Mining Corporation (TSX VENTRUE:GSH) (“GSH”), which includes a three-year standstill provision, to enable the scoping and engineering data of KWG subsidiary Canada Chrome Corporation (“CCC”) to be made available for examination and analysis by FSDI. The parties intend to explore the possibility of a negotiated transaction between them for FSDI to undertake a feasibility study for KWG on all aspects of the construction of a Ring of Fire transportation corridor and railroad, including terms for construction financing facilities. FSDI has begun its review of the CCC data and advises that it will deliver a proposal to the parties as soon as possible in preparation for discussions in early 2016.
To advance the ongoing anticipated negotiations, CCC has engaged GSH as its representative and advocate in China. GSH is indirectly controlled by the Beijing Institute of Geology for Mineral Resources, a Chinese State Owned Enterprise. As a completion incentive, CCC will grant to GSH a finder’s fee for capital expenditures made by FSDI and its affiliates and associates for any transportation assets with which the CCC lands are improved, of 1% of all construction expenditures, payable on substantial completion of construction and thereafter a royalty on revenues generated by such transportation assets of 1.5% of freight revenues, payable quarterly.
To secure access to its mineral interests in the Ring of Fire, in 2010 CCC staked mineral claims along a 340 kilometre long route covering a series of sand ridges. These claims traverse the traditional territories of the Aroland and Marten Falls First Nations who accordingly have a keen interest in development of any transportation corridor along that alignment. The interests of these two First Nations and their Matawa Tribal Council neighbours must be accommodated for any construction to proceed and are expected to be negotiated as part of the feasibility study process.
About FSDI:
Established in 1953, China Railway First Survey & Design Institute Group Co., Ltd. (“FSDI”) holds 26 national Grade-A complex qualification certificates for engineering survey, design, supervision and consultation.
Over the past 60 years since establishment, FSDI has led the design and construction of over 48,000 km of railways represented by western China’s railway network, and undertaken over 5,000 km of high-speed railways which have been in operation or are under construction in China.
FSDI has undertaken rail transit projects in over 30 cities of China, fully covering the whole process or industrial chain of planning, design, consultation, supervision, EPC and general property development of means of transport such as subway, light rail and tramcar. It has also undertaken railway, highway and subway consultation and design projects measuring a total of over 2,000 kilometers in over 40 countries.
FSDI’s complete survey & design technologies have been up to domestic or world advanced standards in fields such as mountain railways, plateau permafrost railways, desert railways, electrified railways, super long tunnels, large railway hubs or marshalling stations, wireless train control, command scheduling systems, and large interchange engineering.
About KWG:
KWG has a 30% interest in the Big Daddy chromite deposit and the right to earn 80% of the Black Horse chromite where resources are being defined. KWG also owns 100% of CCC which has staked claims and conducted a surveying and soil testing program, originally for the engineering and construction of a railroad to the Ring of Fire from Aroland, Ontario. KWG subsequently acquired patent interests, including a method for the direct reduction of chromite to metalized iron and chrome using natural gas. The company has determined that the reduction method can be employed to metalize finely ground chromite which could also be recovered from slurry delivered to Aroland in an underground pipeline constructed within the CCC claims.
Cautionary Note Regarding Forwardâ€Looking Statements: This Press Release contains or refers to “forward-looking information” within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “occur” or “be achieved”. All information, other than information regarding historical fact that addresses activities, events or developments that KWG believes, expects or anticipates will or may occur in the future is forward-looking information. Forward-looking information contained in this Press Release is subject to a number of risks and uncertainties that may cause the actual results of KWG to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, KWG. Should one or more of these risks and uncertainties occur, such as: the parties failing to explore the possibility of a negotiated transaction between them for FSDI to undertake a feasibility study for KWG on all aspects of the construction of a Ring of Fire transportation corridor and railroad, including terms for construction financing facilities; the actual results of current exploration programs; risks normally incidental to exploration and development of mineral properties; the uncertainty of mineral resources estimates; uncertainties in the interpretation of drill results; the possibility that future exploration, development or mining results will not be consistent with expectations; the grade and recovery of ore varying from estimates; the general risks associated with the mining industry; adverse changes in commodity prices; currency and interest rate fluctuations; increased competition and general economic and market factors, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward†looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forwardâ€looking statements.
Shares issued and outstanding: 845,147,718
KWG Resources Inc.
Bruce Hodgman
Vice-President
416-642-3575
[email protected]
Montreal, Quebec / November 24 2015 – Uragold (TSX Venture: UBR) is pleased to announce that the INRS (Eau Terre Environnement) team has completed the fieldwork phase of its ongoing exploration program on the Roncevaux High Purity Quartz vein property located in the Matapedia Valley in the Gaspe region of Quebec. Uragold is the largest holder of High Purity Quartz properties in Quebec, with over 3,500 Ha under claims.
INDUSTRY COVETS RONCEVAUX HIGH PURITY QUARTZ
The material’s unique characteristics make it highly coveted within the industry, as confirmed by the following:
March 2, 2015 – A major Silicon Metal Producer (1st Producer) expressed interest in purchasing 20,000 – 50,000 tons of High Purity Lump Quartz from Roncevaux. The 1st Producer confirmed material from Roncevaux successfully passed rigorous internal testing protocols, deeming our material highly suited for their Silicon Metal production plant.
August 27, 2015 – A second major Silicon Metal Producer, for the purpose of securing material for their plant, requested High Purity Quartz samples from Roncevaux for evaluation.
TRANSFORMING RONCEVAUX QUARTZ INTO HIGH VALUE END PRODUCT
In addition to the above, Uragold is also evaluating the possibility of becoming a fully integrated vertical producer of High Purity Solar Grade Silicon Metal / Value End Products:
September 30, 2015 – Uragold announced a partnership with Pyrogenesis Canada, in which PyroGenesis granted Uragold a worldwide exclusive right to the usage of the PUREVAP (TM) Quartz Vaporization Reactor technology. The purpose of the partnership is to transform our High Purity Quartz into High Purity Solar Grade Silicon Metal / Value End Products such as:
Successful testing of this process and transformation of our High Purity Quartz into High Purity Solar Grade Silicon Metal, is expected to be completed in Q1 2016, and will put Uragold in a position to turn its Quartz Projects into the Highest Purity, Lowest Cost Supplier to the Solar Industry.
Bernard Tourillon, Chairman and CEO of Uragold stated: “The science behind the PUREVAP (TM) Quartz Vaporization Reactor is strong: A Plasma arc based process can transform High Purity Quartz into Metallurgical Grade Silicon Metal (“Mg Si”). The Plasma arc based process can then be used to purify Mg Si into higher value materials such as Solar Grade Silicon Metal. Furthermore, refining Mg Si using an electron-beam furnace in a high vacuum processing environment has proven the concept of the elimination of elements whose vapor pressures are higher than that of silicon. What is unique and ground breaking about the PyroGenesis approach is the combination of these three proven processes into one step”
FIELDWORK COMPLETED BY INRS DURING THE FIRST EXPLORATION PHASE
-New trenches were excavated and old trenches were cleaned to allow channel sampling of the quartz vein and the collection of 200 Kg samples for:
Results of the geophysics and geochemical work will allow the planning of a drilling program to confirm SiO2 purity at depth and to validate the historical estimates of 414,700 tons of High Purity Quartz contained in the V1 vein structure (grading @ 99.20% of SiO2) (GM60610: Barrette, Jean-Paul. 2003. Rapport des travaux d’exploration miniere sur la veine de quartz pur. Projet Silice Roncevaux, Canton Roncevaux, Gaspesie)
Patrick Levasseur, President and COO of Uragold stated, “This work is advancing our understanding of the Roncevaux quartz deposit. When combining our technology partnership with PyroGenesis Inc. and our properties portfolio, Uragold is well positioned to become a Green Tech industry leader in the quartz value added business.”
All information such as resource estimates and grades herein presented is historical in nature and while relevant, the information was obtained before the implementation of National Instrument 43-101 and as such does not meet National Instrument 43-101 reporting standards. The historical estimate should not be relied upon until the Company can confirm them.
The work was complete by a team supervised by Dr. Marc Richer-LaFleche, Ph.D. (Geo) the Institut National de la Recherche Scientifique (INRS, Eau Terre Environnement). Mr. Vivian Stuart-Williams, SACNASPS, working under Special Authorization #308 of the Quebec Order of Geologist, is an Independent Qualified Person as defined by National Instrument 43-101 that supervised the preparation of the information in this news release.
About Uragold
Uragold, with its worldwide exclusive usage of the PUREVAP (TM) quartz vaporization reactor, is endeavouring to become a vertically integrated Silicon Metal, Solar Grade Silicon Metal and Polysilicon producer.
The PUREVAP (TM) quartz vaporization reactor process’s big advantage is its one step direct transformation of Quartz into Solar Grade Silicon and/or Polysilicon, thereby potentially allowing Uragold to manufacture high value material (Solar Grade Silicon and Polysilicon) for the same operating cost presently being paid by traditional producers to make Metallurgical Grade Silicon using the traditional arc furnace approach.
Uragold is also the largest holder of High Purity Quartz properties in Quebec, with over 3,500 Ha under claims. Despite the abundance of quartz, very few deposits are suitable for high purity applications. High Purity Quartz supplies are tightening, prices are rising, and exponential growth is forecast. Quartz from the Roncevaux property successfully passed rigorous testing protocols of a major silicon metal producer confirming that our material is highly suited for their silicon metal production.
This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Company’s current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding the acceptance of our products by the market, our strategy to develop new products and enhance the capabilities of existing products, our strategy with respect to research and development, the impact of competitive products and pricing, new product development, and uncertainties related to the regulatory approval process. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s on-going filings with the securities regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.
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 release.
For further information contact
Bernard J. Tourillon, Chairman and CEO Tel (514) 907-1011
Patrick Levasseur, President and COO Tel: (514) 262-9239
www.uragold.com
$431,168,400 Capital Increase At Omagine, Inc.
NEW YORK, Nov. 23, 2015 — Omagine, Inc. (OTCQB:OMAG) disclosed in its third quarter report on Form 10-Q (the “10-Q Reportâ€) filed today with the U.S. Securities and Exchange Commission (“SECâ€) that its consolidated financial statements for the period ended September 30, 2015 reflect a $431,168,400 increase in stockholders’ equity and a $287,445,600 increase in non-controlling interests in its 60% owned subsidiary, Omagine LLC (“LLCâ€).
LLC is developing a $2.5 billion tourism and real-estate project (the “Omagine Projectâ€) in the Sultanate of Oman and the increases are attributable to the purchase by LLC in July 2015 of Land Rights in Oman valued at $718,614,000. The Omagine Project is planned to be an integration of cultural, entertainment and residential components. The shareholders of LLC are: (i) Royal Court Affairs which owns 25%, (ii) two subsidiaries of Consolidated Contractors International Company, SAL (“CCCâ€), which collectively own 15%, and (iii) Omagine, Inc. (the “Companyâ€) which owns 60%.
Since the Land Rights were a non-cash payment for capital stock in LLC, it was necessary to value the Land Rights. Three expert real estate valuation companies were engaged by LLC to independently value the Land Rights in accordance with the professional standards specified by the Royal Institution of Chartered Surveyors (“RICSâ€) and International Financial Reporting Standards (“IFRSâ€). The average of the three Land Rights valuations was 276,666,667 Omani Rials ($718,614,000).
LLC engaged the services of PricewaterhouseCoopers LLP (“PwCâ€) as its IFRS accounting consultant to definitively determine the correct method of recording the $718,614,000 in its IFRS compliant financial statements.
After receiving PwC’s written report and analysis, LLC then consulted its independent auditor, Deloitte & Touche (M.E.) & Co. LLC (“Deloitteâ€) with respect to the matter and received Deloitte’s written technical report agreeing with the PwC analysis.
Both PwC and Deloitte independently concluded that in accordance with the IFRS, the Land Rights should be recorded as capital, inventory and land on LLC’s financial statements.
With respect to the Company’s consolidated financial statements which are prepared in accordance with accounting principles generally accepted in the United States (“US GAAPâ€), the Company’s independent auditor in the U.S. has likewise concurred that the Land Rights should be recorded as capital, inventory and land in accordance with US GAAP.
For a more complete description of the Company, Omagine LLC, the Omagine Project and these events, please refer to the full text of the 10-Q Report which is a publicly available document available for download at the website of the SEC or the Company.
About Royal Court Affairs.
Royal Court Affairs is an Omani organization representing the interests of His Majesty, Sultan Qaboos bin Said, the ruler of Oman.
About Consolidated Contractors.
Consolidated Contractors International Company, SAL is a multi-national construction and engineering company with over $5 billion of annual revenue, 130,000 employees worldwide and operating subsidiaries in, among other places, every country in the Middle East and North Africa (the “MENA Regionâ€).
About Omagine, Inc.
Omagine, Inc. is a publicly traded U.S. company (Stock Symbol: OMAG) with 18,728,313 common shares presently outstanding. The Company is focused on real-estate, entertainment and hospitality opportunities in the MENA Region and on the design and development of unique tourism destinations that are thematically imbued with culturally aware, historically faithful, and scientifically accurate entertainment experiences. Governments in the MENA Region are seeking to diversify their economies and create employment for their citizens via the development of tourism destination projects. It is the Company’s opinion that this governmental strategic vision combined with the enormous financial resources in the MENA Region will continue to present superb development opportunities.
Investors or interested parties may visit Omagine’s website at www.omagine.com for more information about the Company or http://agoracom.com/ir/omagine which is the Company’s investor relations website.
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this press release that are not historical facts, may be deemed to be forward-looking statements. Words such as “expects”, “intends”, “plans”, “may”, “could”, “should”, “anticipates”, “likely”, “probablyâ€, “believes” and words of similar import also identify forward-looking statements. These statements are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date hereof. Additional information on risks and other factors that may affect the business and financial results of Omagine, Inc. can be found in the filings (the “SEC Filingsâ€) of Omagine, Inc. with the United States Securities and Exchange Commission (the “SECâ€). Investors are urged to review the Company’s SEC Filings.
For Further Information Contact: Charles P. Kuczynski, Vice-President Omagine, Inc. The Empire State Building 350 Fifth Avenue New York, NY 10118 Telephone: +1-212-563-4141 -- Ext. 208 Email: [email protected]
Vancouver, BC / November 23, 2015 – Durango Resources Inc. (the “Company” or “Durango”) announces that it has agreed to terms in a right of first refusal (ROFR) with an arm’s length vendor for a 2,460 acre lithium project called the East Fault claims located in the South Clayton Valley of Nevada, USA.
The East Fault claims cover the area from Pure Energy Minerals’ (TSX-V:PE) eastern border to the east bounding (graben) faults the East Fault and E-2 Fault. The property includes eleven kilometers (7 miles) of the East Fault, 3.5 kilometers (2.2 miles) of the E-2 Fault, and eight kilometers (5 miles) of the (projected) 1,000 meter bedrock depth gravity contour (See Pure Energy NI 43-101 Technical Report, July 17, 2015).
The ROFR terms set out between Durango and the vendor specify that Durango has 30 days to complete due diligence on the claims and the accompanying data and enter into a definitive agreement. Once an agreement is signed the Company will:
-Issue one million shares of Durango to the vendor after approval of the transaction by the TSX Venture Exchange;
-Sign a 3% Net Smelter Royalty (NSR), with the option of a 1% buyback for $1M within three years of signing a definitive agreement; and
-Pay $29,000 USD in claim fees.
Further details on the East Fault property will be announced as they become available. Durango looks to complete private placement and flow through financings to enable immediate exploration on the NMX East claims adjacent to Nemaska Lithium (TSX.V-NMX) and to further evaluate the claims adjacent to Pure Energy in Nevada, USA.
The technical contents of this release were approved by Mr. Case Lewis, P.Geo., a qualified person as defined by National Instrument 43-101.
About Durango
Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company has a 100% interest in the Mayner’s Fortune and Smith Island limestone properties in northwest British Columbia, the Decouverte and Trove gold properties in the Abitibi Region of Quebec, and the NMX East lithium property near the Whabouchi mine in Quebec, as well as three sets of claims in the Labrador nickel corridor.
DURANGO ENTRE DPR SUR SUD CLAYTON VALLEY LITHIUM
Vancouver, Colombie-Britannique / TheNewswire / 23 Novembre, ici a 2015 – Ressources Durango Inc. (la “Societe” ou “Durango”) annonce qu’elle a convenu de termes dans un droit de premier refus (DPR) avec une longueur de fournisseur d’un bras pour un acre 2460 projet de lithium appele revendications Fault-Orient situes dans le sud de la vallee de Clayton Nevada, USA.
Les revendications Fault-Orient couvrent la zone de Pur Minerals energie ‘(TSX-V: PE) frontiere orientale aux delimitation Est (graben) defauts de la faute de l’Est et E-2 defauts. La propriete comprend onze kilometres (7 miles) de la faille de l’Est, a 3,5 kilometres (2,2 miles) de la faille de E-2, et a huit kilometres (5 miles) de la (projetee) de 1000 metres de profondeur du substratum rocheux gravite contour (Voir Ni pur energie Rapport technique 43-101, le 17 Juillet, 2015).
Les termes DPR enonces entre Durango et le vendeur preciser que Durango a 30 jours pour completer la diligence raisonnable sur les revendications et les donnees d’accompagnement et de conclure un accord definitif. Une fois qu’un accord est signe la Societe seront:
o Numero un million d’actions de Durango au vendeur apres l’approbation de la transaction par la Bourse de croissance TSX;
o Signer une fonderie de 3% net Libre (NSR), avec l’option d’un rachat de 1% pour 1 M $ dans les trois ans suivant la signature d’un accord definitif; et
o Payer 29.000 $ USD en frais de reclamation.
Plus de details sur la propriete Fault-Orient seront annonces des qu’ils seront disponibles. Durango cherche a completer un placement prive et de circuler a travers des financements pour permettre l’exploration immediate sur la NMX-Orient claims adjacents a Nemaska Lithium (TSX.V-NMX) et pour evaluer davantage les claims adjacents a Pure Energy dans le Nevada, USA.
Le contenu technique de ce communique de presse ont ete approuvees par M. Case Lewis, P.Geo., Une personne qualifiee tel que defini par la Norme canadienne 43-101.
A propos de Durango
Durango est une societe des ressources naturelles engagee dans l’acquisition et l’exploration de proprietes minieres. La Societe a un interet de 100% dans la fortune et Smith Island proprietes de calcaire de la Mayner du nord-ouest Colombie-Britannique, la decouverte et de proprietes auriferes Trove dans la region de l’Abitibi au Quebec, et la propriete de lithium NMX Est, pres de la mine Whabouchi au Quebec, ainsi que trois jeux de revendications dans le couloir de nickel du Labrador.
For further information on Durango, please refer to its SEDAR profile at www.sedar.com.
Marcy Kiesman, Chief Executive Officer
Telephone: 604.428.2900 or 604.339.2243
Facsimile: 888.266.3983
Email: [email protected]
Website: www.durangoresourcesinc.com
Forward-Looking Statements
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties relating to Durango, please refer to the Company’s prospectus filed on its SEDAR profile at www.sedar.com.
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.