Hinterland Metals Inc.

Published : July 08th, 2009

Vend Two White Gold District, Yukon Properties to Silver Quest

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Keywords :   Fekete | Silver |

July 08, 2009

Hinterland Metals - Press Release

 


Hinterland and Partners Vend Two White Gold District, Yukon Properties to Silver Quest

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VAL D'OR, QUEBEC-(July 8, 2009) - Hinterland Metals Inc. (TSX VENTURE:HMI) is pleased to announce that together with three private individuals, it has vended its 25% interest in two properties located in the newly recognized White Gold district south of Dawson City, Yukon to Silver Quest Resources Ltd. ("Silver Quest"). The properties were vended pursuant to the terms of two separate option agreements. Hinterland is due to receive in total from the two agreements $30,000 cash ($7,500 initially), 400,000 Silver Quest shares (100,000 initially) over a three year period and will retain a 0.5% net smelter royalty ("NSR") in each property.

The 32-claim (665ha) CC property is situated approximately 15km south of Underworld's Golden Saddle discovery. It is strategically located between Underworld's Thistle and Black Fox properties, and is directly east of Kaminak Gold's Kirkman property. Silver Quest has been granted the option to acquire a 100% interest in the CC property from the vendors for cash payments of $60,000 ($15,000 initially) and the issuance of 800,000 shares (200,000 initially) and a work commitment of $500,000 ($50,000 in year 1) scheduled over a three year period. The vendors retain a 2% NSR with the Silver Quest having the option to acquire 1% of the NSR for $1.0 million. Upon completing a 43-101 compliant resource estimate in excess of 100,000 ounces of gold in an indicated category, Silver Quest will make a one-time payment of $100,000 and 75,000 shares, to the vendors.

The TAK property includes 16 claims staked by vendors and an additional 66 claims staked by Silver Quest for a total of 82 claims (1,706ha). It is located approximately 40km southeast of Underworld's Golden Saddle discovery. Silver Quest has been granted the option to acquire a 100% interest in the TAK property from the vendors for cash payments of $60,000 ($15,000 initially) and the issuance of 800,000 shares (200,000 initially) and a work commitment of $500,000 ($50,000 in year 1) scheduled over a three year period. The vendors retain a 2% NSR with the Silver Quest having the option to acquire 1% of the NSR for $1.0 million. Upon completing a 43-101 compliant resource estimate in excess of 100,000 ounces of gold in an indicated category, Silver Quest will make a one-time payment of $100,000 and 75,000 shares, to the vendors.

Mark Fekete, P.Geo is the designated "qualified person" as defined in Section 1.2 in and for the purposes of National Instrument 43-101 responsible for the preparation and contents of this release.

Investors are invited to visit the Hinterland IR Hub at
http://www.agoracom.com/IR/Hinterland where they can post questions and receive answers or review messages already posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to HMI@Agoracom.com where they can also request to be added to the investor e-mail list in order to receive all future press releases and updates in real time.

This release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in the Company's periodic reports including the annual report or in the filings made by the Company from time to time with securities regulators. The Company undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of an unanticipated event.

Shares Issued 51,185,401

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.

CONTACT INFORMATION:
Hinterland Metals Inc.
Mark Fekete
President
Toll Free: 1-877-874-8182
info@hinterlandmetals.com
http://www.hinterlandmetals.com

 

 

 

 

FEATURED LINKS

Hinterland Metals Web Site

Hinterland Metals IR HUB

 

 



Hinterland Metals Inc.

EXPLORATION STAGE
CODE : HMI.V
ISIN : CA4334732043
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Hinterland Metals is a gold and cobalt exploration company based in Canada.

Hinterland Metals holds various exploration projects in Canada.

Its main exploration properties are KIPAWA & LULA REE, BALLARAT, LOCKOUT, EBAY PGE and TECK in Canada.

Hinterland Metals is listed in Canada and in United States of America. Its market capitalisation is CA$ 6.3 millions as of today (US$ 4.7 millions, € 4.1 millions).

Its stock quote reached its highest recent level on June 20, 2008 at CA$ 1.20, and its lowest recent point on March 15, 2019 at CA$ 0.01.

Hinterland Metals has 42 270 000 shares outstanding.

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Financings of Hinterland Metals Inc.
9/29/2009Closes Final Tranche of $622,430 Private Placement
9/3/2009Closes Second Tranche of Private Placement for $300,000
8/28/2009Closes First Tranche of Private Placement for $150,930
7/29/2009Arranging $720,000 Private Placement
11/26/2008Extends Expiry Date of Share Purchase Warrants
1/3/2006$ 220,000 private placement closed
12/30/2005$ 110,000 private placement closed
Option Grants of Hinterland Metals Inc.
9/15/2007Grants 825,000 Incentive Stock Options
Nominations of Hinterland Metals Inc.
5/24/2007Appoints Vaughn MacLellan as Director
Project news of Hinterland Metals Inc.
7/12/2016Hinterland to earn interest in Troilus Lithium Property surr...
9/14/2012(Teck)Options Teck-Kirkland Property in Ontario to Opawica
9/16/2009(Lockout)Drilling Lockout Gold Project, Quebec
4/29/2008(Ebay Pge)Drills Up to 1.46g/t PGE at Ebay Property, Quebec
4/15/2008Drilling Intersects 13.8g/t Au & 4.1g/t Ag Over 1..7m at Ran...
4/9/2008(Ebay Pge)Finds More Platinum & Palladium at Ebay Property, Quebec
2/21/2008(Ebay Pge)Continues to Hit Platinum & Palladium at Ebay Property, Queb...
2/14/2008(Ebay Pge)Hits Platinum & Palladium at Ebay Property, Quebec
12/11/2007(Plateau (dot-com))Starts Drilling at Plateau PGE Project, Quebec
Corporate news of Hinterland Metals Inc.
7/11/2016Hinterland adds claims to the Brexit Lithium Property in the...
6/23/2016Hinterland acquires lithium claims in Mountain Lake Belt, Qu...
5/17/2016Hinterland updates Tak Property in Dawson Mining District of...
5/16/2016Hinterland 2016 AGM Results and Extension of Warrants
3/30/2016Hinterland grants 2,400,000 options to officers and director...
12/8/2014Hinterland Completes Electromagnetic Survey on Guyberry Gold...
12/3/2014Hinterland Acquires 100% Interest in Mozart Gold-VMS Propert...
9/9/2014Hinterland Updates Quebec Exploration Activity
9/3/2014Hinterland Samples Up to 8.12 Grams Per Tonne Gold on McInty...
6/23/2014Hinterland Correction to Final Tranche of Private Placements
6/17/2014Hinterland Appoints Mr. John Langton to Board of Directors
6/13/2014Hinterland Closes Final Tranche of Private Placements
6/9/2014Hinterland Receives $40,000 Grant Under the New Brunswick Ju...
6/3/2014Hinterland Annual and Special Meeting Results
5/27/2014Hinterland Closes First Tranche of Private Placements
5/1/2014Hinterland Acquires Williams Brook Gold Property in New Brun...
4/24/2014Hinterland Acquires McIntyre Gold Property in New Brunswick
4/15/2014Hinterland Acquires Sakami Gold Claims in Quebec
4/9/2014Hinterland Acquires Lac Surprise Claims in Quebec
6/28/2013Annual and Special Meeting Results
2/21/2013Completes Airborne Geophysical Survey Over Mozart Gold Prope...
6/20/2011and Stakeholder Gold Corp. Complete Spin-out of Yukon Assets
6/8/2011Spin-Out Arrangement With Stakeholder Gold Corp. Approved by...
5/17/2011Begins Exploration Work at Kipawa Rare Earth Project in West...
4/4/2011Executes Arrangement Agreement with Stakeholder Gold Corp.
2/22/2011Stakes TM Property in White Gold Area of Yukon
3/15/2010Yahoo! Interview with Mr. Mark Fekete
3/16/2010Acquires Lac Fecteau in Windfall Lake Area, Quebec
2/18/2010Company update
7/15/2009Hinterland Mobilizes Exploration Crew to Ballarat Property
7/8/2009Vend Two White Gold District, Yukon Properties to Silver Que...
6/26/2009Stakes Additional Claims in White River Gold Play, Yukon
6/23/2009Options 1661ha Ballarat Property in White River Gold Play, Y...
6/10/2009closes $175,000 Financing
4/10/2008Discovers 1.8m of 1.12% Copper and 0.36% Nickel at Ebay Prop...
2/4/2008Industry Bulletin
12/12/2007starts drilling at Raney Gold Project, Ontario
12/5/2007closes $476,880 Financing
11/27/2007Stakes Entire Utik Lake Greenstone Belt, Manitoba
11/20/2007arranges $600,000 Financing
11/13/2007Sells Otish Basin Interest to Kakanda for 500,000 Shares
11/6/2007 to drill recently acquired Raney Gold Property,Ontario
10/22/2007Outlines 11.5km Uranium Anomaly at Hearne
10/11/2007Discovers 7.5g/t Gold at Hearne Project, Manitoba
9/4/2007Summer 2007 Exploration Update
8/1/2007 starts Hearne Uranium Exploration Program
6/11/2007Hires Downshire Capital Inc
5/8/2007closes $75,000 Financing
4/26/2007and Kakanda OtishU JV Airborne Survey
4/5/2007Doubles size of Hearne Uranium Project near Churchill, Manit...
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