Blue Note Mining Inc.

Published : April 12th, 2012

and Critical Elements extend completion of Croinor acquisition

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Keywords :   Gold | Market | Report |

Blue Note and Critical Elements extend completion of Croinor acquisition

 

MONTREAL, April 12, 2012 /CNW Telbec/ - Blue Note Mining Inc. (TSX.V: BNT) ("Blue Note") and Critical Elements Corporation (TSX.V: CRE) ("Critical Elements") report that they have agreed to extend the term of the binding agreement announced on July 19, 2010 (the "Agreement") providing for the acquisition by Blue Note of all of Critical Elements' interests in the Croinor gold project located near Val-d'Or, Quebec.

Under the terms of the Agreement, Blue Note now has until May 31, 2012, or such other later date as mutually agreed by Blue Note and Critical Elements, to make a final payment of $2,250,000 to complete the transaction. In addition, Blue Note shall issue 17.5 million common shares to be held in escrow, for release at a rate of 500,000 shares per month over 35 months from the date of closing. The transaction includes Critical Elements' 71% ownership in the Matchi-Manitou property..

About Blue Note Mining

Blue Note Mining is a mineral exploration and mining company headquartered in Montreal with gold properties located in the prolific Val d'Or region of Quebec. Blue Note also holds significant positions in the share capital of Amex Exploration (AMX.V) and GeoVenCap (GOV.V).

Forward-Looking Statements
This news release contains discussion of items that may constitute forward-looking statements within the meaning of securities laws that involve risks and uncertainties. Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurances that its expectations will be achieved. Factors that could cause actual results to differ materially from expectations include the effects of general economic conditions, actions by government authorities, uncertainties associated with contract negotiations, additional financing requirements, market acceptance of the Company's products, technical uncertainties associated with operating an underground mine and competitive pressures. These factors and others are more fully discussed in Company filings with Canadian securities regulatory authorities.

"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, please contact:
Jean Mayer
Executive Vice President
514-486-3095 x236
jmayer@bluenotemining.ca
www.bluenotemining.ca

 

Blue Note Mining Inc.

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CODE : BNT.V
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Blue Note Mining is a zinc and lead development stage company based in Canada.

Blue Note Mining develops zinc, lead and silver in Canada, and holds various exploration projects in Canada.

Its main asset in development is RESTIGOUCHE in Canada and its main exploration properties are CHIMO - NOVA, CANOE LANDING LAKE, WILLIAM'S BROOK, ARMSTRONG / ORVAN, CROINOR and CARIBOU MINE in Canada.

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Financings of Blue Note Mining Inc.
7/15/2011CNW Telbec Release Confirmation - Blue Note Closes Second Tr...
6/23/2011CNW Telbec - Confirmation - Blue Note Closes First Tranche o...
6/7/2011CNW Telbec Release Confirmation - Blue Note Arranges a Priva...
Nominations of Blue Note Mining Inc.
5/19/2011CNW Telbec Release Confirmation - BLUE NOTE APPOINTS STEPHAN...
Project news of Blue Note Mining Inc.
4/12/2012(Croinor)and Critical Elements extend completion of Croinor acquisiti...
2/22/2012Blue Note and Critical Elements announce updated prefeasibil...
1/16/2012CNW Telbec Release Confirmation - Blue Note and Critical Ele...
8/29/2011CNW Telbec Release Confirmation - Blue Note Resumes Drilling...
8/25/2011CNW Telbec Release Confirmation - Blue Note Extends High Gra...
4/26/2011(Croinor)Eastern Extension Continues to Hold Upside at Cronor Gold Pr...
3/29/2011(Croinor)and Blue Note Extend Completion of Croinor Acquisition
3/29/2011CNW Telbec Release Confirmation - Blue Note and Critical Ele...
Corporate news of Blue Note Mining Inc.
5/31/2012CNW Telbec - Blue Note to Dividend 3,973,219 GeoVenCap Share...
3/26/2012CNW Telbec Release Confirmation - Blue Note's spinoff GeoVen...
3/22/2012Mid-Day Breaking News From Golden Predator, PC Gold, Platine...
3/5/2012Mid-Day Breaking News From Xmet, Alexandria, U3O8, Corazon, ...
2/22/2012CNW Telbec Release Confirmation - Blue Note and Critical Ele...
1/20/2012CNW Telbec Release Confirmation - Blue Note Signs Definitive...
1/10/2012to Spin Out New Brunswick Properties to GeoVenCap
2/24/2011CNW Telbec Release Confirmation - Blue Note Mobilizes Second...
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TSX-V (BNT.V)OTHER OTC (BLNMF)
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