Rockcliff Resources Inc.

Published : April 13th, 2015

April 10, 2015 Rockcliff agrees to Sell its 70% interest in the Tower Property, Manitoba, Canada

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

April 10, 2015 Rockcliff agrees to Sell its 70% interest in the Tower Property, Manitoba, Canada

BY MAIL (original by courier)

NEWS RELEASE April 10, 2015

Trading Symbol RCR: TSXV www.rockcliffresources.com

Rockcliff agrees to Sell its 70% interest in the Tower Property, Manitoba, Canada

TORONTO, Ontario. Rockcliff Resources Inc. ("Rockcliff" or the "Company") (RCR: TSXV) is pleased to announce that it has agreed to sell its 70% interest in the Tower Property, Manitoba, Canada to Akuna Minerals Inc. ("Akuna") for cash, required time-related expenditure commitments and a 1.5% Net Smelter Return (NSR).

The Tower Property is host to the T-1 Copper Deposit; a National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") Indicated and Inferred Resource. The Mineral Resource Statement prepared by Caracle Creek International Consulting Inc. for the T-1 Copper Deposit is detailed below and reported in a previous release dated December 6, 2012.

Table 1: Mineral Resource Statement, T-1 Copper Deposit, Manitoba
Caracle Creek, December 2, 2012

Resource Category Tonnes Cu (%) Zn (%) Ag (g/t) Au (g/t) Contained Pounds-Cu

Indicated

1,084,186

3.73

1.05

17.28

0.55

88,968,303

Inferred

1,253,522

2.00

1.02

9.78

0.27

55,154,968

Notes: CIM definitions were followed for the estimation of mineral resources. Mineral resources are estimated at a Cu cut-off of

0.5%. Cut-off grade was based on a copper price of US$3.63 per pound. Given the tonnage, grade and orientation of the deposit,

Caracle Creek considers the T-1 Copper Deposit to be reasonably amenable to extraction using underground mining methods. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

The purchase of Rockcliff's interest in the Tower property by Akuna Minerals is scheduled to close on or before June 30, 2015. The Agreement of Purchase and Sale ("AP&S") provides for a $250,000 cash payment to Rockcliff on closing, at which time the 70% interest is to be transferred to Akuna and Rockcliff will retain a 1.5 % NSR in any production from the Tower Property. Akuna is then required to:
1. complete a minimum expenditure of $500,000 on a Drill Program on the T-1
Deposit by December 31, 2015 and deliver a report on the Drill Program by
February 28, 2016;
2. complete a Preliminary Economic Assessment on the T-1 Deposit within 6 months of closing;
3. complete a minimum expenditure of $1,500,000 on a Bankable Feasibility Study by September 30, 2016; and

Rockcliff Resources Inc. • 141 Adelaide Street West, Suite 520 • Toronto, ON • M5H 3L5

Phone: 416-644-1752 • Fax: 416-644-1758


4. complete a bulk sample by December 31, 2017 and thereafter build the project
to production as defined by the Bankable Feasibility Study.
Failure by Akuna to complete the Drill Program and deliver a report thereon by the time required will result in the 70% interest reverting to Rockcliff. If Akuna fails to meet any other required milestone by the time required, a portion of the interest in the Tower Property will revert to Rockcliff and the parties will form a joint venture for the further exploration and development of the Tower Property. Akuna can extend any time requirement by 6 months by the payment of $100,000 to Rockcliff which will be credited against any future payments to Rockcliff under the 1.5% NSR.
The AP&S is subject to certain conditions including due diligence, regulatory approval and completion by Akuna of the acquisition of a 30% interest in the Tower Property from Pure Nickel Inc. (as announced in the Press Release of Pure Nickel Inc. issued March 31, 2015).

Ken Lapierre, P.Geo., President and CEO of Rockcliff Resources Inc., a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has reviewed and approved the technical information in this press release.

Contact Information:

Rockcliff Resources Inc. klapi er re@ roc kcl i ffres ources .c om

Ken Lapierre P.Geo. tel: (416) 644-1752, cell: (647) 678-3879

President & CEO

Rockcliff Resources Inc.

Rockcliff Resources Inc. is a Canadian resource exploration company focused on discovery and resource growth of its high-quality mineral properties at its Snow Lake Project. Rockcliff presently controls the Snow Lake Project in central Manitoba, totalling in excess of 350 km2. The project includes two (2) VMS high grade copper rich NI 43-101 Resources (T-1, Rail), two (2) historic high grade VMS copper deposits (Lon and Talbot), the T-2 Copper Zone (Tower), numerous untested geophysical anomalies and several additional properties with VMS potential (Freebeth, Dickstone North). Rockcliff also owns a zinc-silver rich NI 43-101 Resource (Shihan) in Ontario.

Forward Looking Statement:

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. 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 risks. The following are important

Rockcliff Resources Inc. • 141 Adelaide Street West, Suite 520 • Toronto, ON • M5H 3L5

Phone: 416-644-1752 • Fax: 416-644-1758

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. There can be no assurance that forward- looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. Rockcliff undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward- looking statements.

Neither 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.

Rockcliff Resources Inc. • 141 Adelaide Street West, Suite 520 • Toronto, ON • M5H 3L5

Phone: 416-644-1752 • Fax: 416-644-1758

Read the rest of the article at www.noodls.com
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Rockcliff Resources Inc.

EXPLORATION STAGE
CODE : RCR.V
ISIN : CA7728852087
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Rockcliff is a copper and nickel exploration company based in Canada.

Rockcliff holds various exploration projects in Canada.

Its main exploration property is SNOW LAKE PROJECT in Canada.

Rockcliff is listed in Canada. Its market capitalisation is CA$ 957 600 as of today (US$ 772 304, € 689 436).

Its stock quote reached its highest recent level on March 04, 2011 at CA$ 2.00, and its lowest recent point on May 22, 2015 at CA$ 0.03.

Rockcliff has 31 920 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Project news of Rockcliff Resources Inc.
4/13/2015April 10, 2015 Rockcliff agrees to Sell its 70% interest in ...
Corporate news of Rockcliff Resources Inc.
6/22/2015June 19, 2015 Solvista Gold Corporation and Rockcliff Resour...
6/18/2015IIROC Trading Halt - RCR
4/10/2015Agrees to Sell its 70% Interest in the Tower Property, Manit...
3/30/2015March 30, 2015 Solvista Gold Corporation and Rockcliff Resou...
3/30/2015IIROC Trading Resumption - SVV; RCR
3/30/2015Solvista Gold Corporation and Rockcliff Resources Inc. Enter...
3/30/2015Solvista Gold Corporation and Rockcliff Resources Inc. Enter...
3/30/2015IIROC Trading Halt - RCR
3/13/2015Files Form 51-102F6
2/17/2015Rockcliff Announces Grant of Stock Options
1/24/2015Rockcliff Announces Closing of Financing
1/6/2015December 31, 2014 Rockcliff Closes Second Tranche of Financi...
12/31/2014Rockcliff Closes Second Tranche of Financing
12/9/2014December 9, 2014 Rockcliff Completes Geophysical Review and ...
12/9/2014Rockcliff Completes Geophysical Review and Identifies High P...
11/17/2014November 18, 2014 Rockcliff Announces Private Placement
11/14/2014Rockcliff Announces Private Placement
7/18/2014Rockcliff Closes First Tranche of Private Placement
6/13/2014Added to Clarus Watch List; Talbot Work Permit Application S...
6/13/2014Rockcliff Added to Clarus Watch List; Talbot Work Permit App...
5/7/2014Rockcliff Exercises Option to Earn 70% Interest in Tower Pro...
4/29/2014Rockcliff Announces Private Placement
4/23/2014Rockcliff Options High Grade Talbot Deposit From Hudbay Mine...
3/19/2014Completes Winter Drill Program at Tower Exceeds Expenditure ...
3/19/2014Rockcliff Completes Winter Drill Program at Tower Exceeds Ex...
1/22/2014to Commence Winter Drill Program at Tower Property and Grant...
10/24/2013Announces Consolidation
2/14/2013Commences Drilling at Former Dickstone Copper Mine
1/22/2013Files NI 43-101 Report on Indicated and Inferred Resource Es...
1/2/2013Closes FT Unit and WC Unit Offerings
7/14/2011Drilling to Commence on Tower Property
5/25/2011Share Position
7/29/2008Drill Program Commences at the Snow Lake VMS Project
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (RCR.V)
0.030+0.00%
TSX-V
CA$ 0.030
06/24 15:47 -
0%
Prev close Open
0.030 0.030
Low High
0.030 0.030
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.030 -%
Volume 1 month var.
596,000 -%
24hGold TrendPower© : -15
Produces
Develops
Explores for Copper - Gold - Silver - Zinc
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.70-0.65%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 11.94+9.34%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.54-2.55%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.69+13.03%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 15.60+1.83%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.24+0.00%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.20+5.26%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.87+5.65%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 52.61+0.98%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+5.56%Trend Power :