QUÉBEC, CANADA--(Marketwired - March 9, 2015) - SOCIÉTÉ D'EXPLORATION MINIÈRE VIOR INC. (News - Market indicators), (FRANKFURT:VL5) (the "Company" or "Vior") - the Company is pleased to announce the closing of the previously announced non-brokered private placement (the "Offering") of flow-through shares (the "Flow-Through Shares") for total proceeds of $84,079.94. Under the Offering, Vior issued 600,571 Flow-Through Shares at a price of $0.14 per Flow-Through Share. Only directors and officers of the Company participated in the Offering.
The securities issued under the Offering are subject to a four-month-hold period ending on July 10, 2015. The Offering is subject to final approval from the TSX Venture Exchange. The proceeds from the Offering will be used by Vior to advance its exploration projects within Québec.
Foothills project
Concurrently, the Company wishes to announce that the high-resolution helicopter-borne magnetic survey has been completed over its Foothills Property, located in St-Urbain, 100 km east of Quebec City.
As noted in the Company's previous press release, exploration surveys carried out in the field in 2014 defined two streaks of rutile-bearing ilmenite blocks spread over a strike length of 9 km in a northwest-southeast direction and a width of 5.5 km. Blocks which contain visually up to 45% rutile have a TiO2 (titanium) content reaching up to 57.6%. Glacial patterns in the area suggest a source of these blocks being located a few kilometers away in the contact zone between the St-Urbain Anorthosite complex and the surrounding gneissic rocks.
The data collected from the helicopter-borne magnetic survey are currently being processed and will be included in the property dataset in order to better pinpoint the potential sources of the rutile-bearing ilmenite blocks. A follow-up field program is slated to commence as early as spring 2015.
This press release was prepared by Mr. Marc L'Heureux, P.Geo. who is the Company's Qualified Person.
Profile
Profile Vior's strategy is to generate, explore and develop quality projects in the best proven an accessible mining areas. Vior owns approximately 29.8% of the share capital of Aurvista Gold Corp., the owner of the gold Douay project, which contains a NI 43-101 compliant Mineral Resource of 114,652,000 tonnes at 0.75 g/t gold (2.8 million ounces of gold) in the Inferred category and 2,689,000 tonnes at 2.76 g/t gold (238,433 ounces of gold) in the Measured and Indicated categories, at a cut-off of 0.3 g/t gold (Aurvista press release of October 16, 2014).
Web site: www.vior.ca
SEDAR: Société d'exploration minière Vior inc.
Neither the TSX Venture Exchange nor its regulation services provided (as that term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
