| | Published : July 08th, 2009 | Vend Two White Gold District, Yukon Properties to Silver Quest |
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Hinterland Metals -
Press Release
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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
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VanEck Vectors Global Alternative Energy ETF
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EXPLORATION STAGE |
CODE : HMI.V |
ISIN : CA4334732043 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
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 7.1 millions as of today (US$ 5.3 millions, € 4.6 millions). Its stock quote reached its highest recent level on June 20, 2008 at 1.20, and its lowest recent point on March 15, 2019 at 0.01. Hinterland Metals has 47 442 200 shares outstanding. |
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6/3/2014 | Hinterland Annual and Special Meeting Results |
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4/24/2014 | Hinterland Acquires McIntyre Gold Property in New Brunswick |
4/15/2014 | Hinterland Acquires Sakami Gold Claims in Quebec |
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6/28/2013 | Annual and Special Meeting Results |
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6/20/2011 | and Stakeholder Gold Corp. Complete Spin-out of Yukon Assets |
6/8/2011 | Spin-Out Arrangement With Stakeholder Gold Corp. Approved by... |
5/17/2011 | Begins Exploration Work at Kipawa Rare Earth Project in West... |
4/4/2011 | Executes Arrangement Agreement with Stakeholder Gold Corp. |
2/22/2011 | Stakes TM Property in White Gold Area of Yukon |
3/15/2010 | Yahoo! Interview with Mr. Mark Fekete |
3/16/2010 | Acquires Lac Fecteau in Windfall Lake Area, Quebec |
2/18/2010 | Company update |
7/15/2009 | Hinterland Mobilizes Exploration Crew to Ballarat Property |
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6/23/2009 | Options 1661ha Ballarat Property in White River Gold Play, Y... |
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2/4/2008 | Industry Bulletin |
12/12/2007 | starts drilling at Raney Gold Project, Ontario |
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11/20/2007 | arranges $600,000 Financing |
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10/22/2007 | Outlines 11.5km Uranium Anomaly at Hearne |
10/11/2007 | Discovers 7.5g/t Gold at Hearne Project, Manitoba |
9/4/2007 | Summer 2007 Exploration Update |
8/1/2007 | starts Hearne Uranium Exploration Program |
6/11/2007 | Hires Downshire Capital Inc |
5/8/2007 | closes $75,000 Financing |
4/26/2007 | and Kakanda OtishU JV Airborne Survey |
4/5/2007 | Doubles size of Hearne Uranium Project near Churchill, Manit... |
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