Traderboersenboard - Einzelnen Beitrag anzeigen - Uran - Uran-Aktien

nrj · 10-11-2005, 14:19

Press Release Source: Northwestern Mineral Ventures Inc.

Northwestern completes agreement to become 100% owner of Picachos Project, Mexico

Thursday November 10, 9:00 am ET

TORONTO, Nov. 10 /PRNewswire-FirstCall/ - Northwestern Mineral Ventures Inc. (TSX-V: NWT - News; OTCBB: NWTMF - News) is pleased to announce the completion of a Formal Agreement with RNC Gold Inc. (TSX: RNC - News), which grants Northwestern the right to acquire a 100% interest in the promising silver-gold Picachos Project. The deal is valued at C$20 million and includes the 7,700-hectare (19,000-acre) silver-gold Picachos portfolio located in Durango State and the 17,800-hectare (43,900-acre) Tango gold claims in Sinaloa State.
"The successful completion of this agreement marks yet another milestone for Northwestern as we aggressively expand our land holdings," said Kabir Ahmed, Chairman and CEO of Northwestern. "Located in the vicinity of producing mines, Picachos is a highly prospective property as evidenced by strong exploration results, its strategic location and favorable geology. We look forward to continuing our exploration and development at Picachos with the goal of realizing full commercial production."

Soil geochemical surveys and chip-channel sampling at Picachos, conducted as part of the ongoing 2005 exploration program, significantly expand the property's potential and define epithermal precious metal districts on four adjacent areas - Los Cochis, Guadalupe, El Toro and El Pino, as was discussed in a press release dated July 13, 2005. Analysis has also indicated the potential for a near-surface, open-pittable silver-rich area. On the Tango gold claims, all of the characteristics reported from an initial exploration program suggest that the property may overlie a significant high-sulfidation epithermal gold system with both bulk tonnage and high-grade vein potential. For more information regarding the company's exploration results at the Picachos Project, please consult the company's website at www.northwestmineral.com.

Under the terms of the October 14, 2005 Formal Agreement, Northwestern will be granted the right at feasibility to acquire RNC's remaining 50% stake in the Picachos Project. The purchase price of C$20 million is payable as: C$3 million at the completion of a feasibility study, then C$9 million at the commencement of commercial production, and then C$2 million on each of the first through fourth anniversaries of the commencement of commercial production. Northwestern has also issued 200,000 common shares from its treasury to RNC as consideration for the Formal Agreement. The shares are subject to applicable regulatory hold periods. By way of a Bulletin issued by the TSX Venture Exchange on October 21, 2005, Northwestern has obtained regulatory approval for the Formal Agreement.

ABOUT NORTHWESTERN:

Northwestern Mineral Ventures (www.northwestmineral.com) is an emerging international exploration company with an experienced management team. The company is focused on properties with uranium and silver-gold potential and currently has interests in the United States, Canada and Mexico. Northwestern is listed on the NASD Bulletin Board under the symbol "NWTMF" and the TSX Venture Exchange under the symbol "NWT."

The TSX Venture Exchange has not reviewed and does not accept

responsibility for the adequacy or accuracy of this news release.

This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.

--------------------------------------------------------------------------------
Source: Northwestern Mineral Ventures Inc.

10-11-2005, 14:19	#118
nrj TBB Goldmember Registriert seit: Dec 2004 Beiträge: 641	Gold-News von Northwestern Press Release Source: Northwestern Mineral Ventures Inc. Northwestern completes agreement to become 100% owner of Picachos Project, Mexico Thursday November 10, 9:00 am ET TORONTO, Nov. 10 /PRNewswire-FirstCall/ - Northwestern Mineral Ventures Inc. (TSX-V: NWT - News; OTCBB: NWTMF - News) is pleased to announce the completion of a Formal Agreement with RNC Gold Inc. (TSX: RNC - News), which grants Northwestern the right to acquire a 100% interest in the promising silver-gold Picachos Project. The deal is valued at C$20 million and includes the 7,700-hectare (19,000-acre) silver-gold Picachos portfolio located in Durango State and the 17,800-hectare (43,900-acre) Tango gold claims in Sinaloa State. "The successful completion of this agreement marks yet another milestone for Northwestern as we aggressively expand our land holdings," said Kabir Ahmed, Chairman and CEO of Northwestern. "Located in the vicinity of producing mines, Picachos is a highly prospective property as evidenced by strong exploration results, its strategic location and favorable geology. We look forward to continuing our exploration and development at Picachos with the goal of realizing full commercial production." Soil geochemical surveys and chip-channel sampling at Picachos, conducted as part of the ongoing 2005 exploration program, significantly expand the property's potential and define epithermal precious metal districts on four adjacent areas - Los Cochis, Guadalupe, El Toro and El Pino, as was discussed in a press release dated July 13, 2005. Analysis has also indicated the potential for a near-surface, open-pittable silver-rich area. On the Tango gold claims, all of the characteristics reported from an initial exploration program suggest that the property may overlie a significant high-sulfidation epithermal gold system with both bulk tonnage and high-grade vein potential. For more information regarding the company's exploration results at the Picachos Project, please consult the company's website at www.northwestmineral.com. Under the terms of the October 14, 2005 Formal Agreement, Northwestern will be granted the right at feasibility to acquire RNC's remaining 50% stake in the Picachos Project. The purchase price of C$20 million is payable as: C$3 million at the completion of a feasibility study, then C$9 million at the commencement of commercial production, and then C$2 million on each of the first through fourth anniversaries of the commencement of commercial production. Northwestern has also issued 200,000 common shares from its treasury to RNC as consideration for the Formal Agreement. The shares are subject to applicable regulatory hold periods. By way of a Bulletin issued by the TSX Venture Exchange on October 21, 2005, Northwestern has obtained regulatory approval for the Formal Agreement. ABOUT NORTHWESTERN: Northwestern Mineral Ventures (www.northwestmineral.com) is an emerging international exploration company with an experienced management team. The company is focused on properties with uranium and silver-gold potential and currently has interests in the United States, Canada and Mexico. Northwestern is listed on the NASD Bulletin Board under the symbol "NWTMF" and the TSX Venture Exchange under the symbol "NWT." The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. This news release includes certain "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. -------------------------------------------------------------------------------- Source: Northwestern Mineral Ventures Inc.