AURIZON ACQUIRES OPTION
ON AZIMUT AND EVERTON OPINACA PROPERTY
Vancouver,
BC - September 16, 2010 - Aurizon Mines Ltd.
(Toronto Stock Exchange - ARZ, NYSE Amex - AZK) is pleased to announce the signing
of a letter of intent with Azimut Exploration
Inc. (�Azimut�) and Everton Resources Inc.
(�Everton�), whereby Aurizon can acquire up to
an undivided 60 % ownership interest in the Opinaca
property located in the James Bay area, 350 kilometres
north of Matagami, Quebec. The Opinaca property is owned by Azimut
and Everton as to an undivided 50% interest each and comprises 649 mining
claims, covering 33,849 hectares, and is located in the area of
Goldcorp�s Eleonore project.
The key terms
of the letter of intent are as follows:
- Aurizon can earn a 50% interest
in the project by making cash payments totalling
$580,000 and incurring expenditures of $6,000,000 over four years,
including 5,000 metres of drilling by the
second anniversary.
- Aurizon will be the operator
during the earn-in period for the initial 50% interest in the
project, after which a joint venture will be formed.
- After
earning its initial 50% interest in the project, Aurizon
may then elect to earn an additional interest of 10%, for a total
interest of 60%, by making cash payments totaling $300,000 over
three years from the election date, incurring expenditures totaling
$3,000,000 over three years from the election date, and delivering
an independent pre-feasibility study on or before the fourth
anniversary.
- In
addition, in the event that prior to the end of the eighth year of
the initial option agreement, mineral resources of at least
2,000,000 ounces of gold, at an average grade of at least 6 grams of
gold per tonne, are discovered, Aurizon shall make a payment of $1,500,000,
payable in Aurizon Common Shares, subject
to regulatory approval.
�Azimut and Everton have successfully identified many
surface gold showings associated with extensive kilometric anomalies
during the last four years on the Opinaca
property. Work performed has demonstrated a high potential for a 50 kilometre long mineralized trend surrounding the Eleonore deposit. Azimut
and Everton have also demonstrated their capacity to generate gold
discoveries using a systematic target approach and applying appropriate
field work techniques.� said Mr. Martin
Demers, Exploration Manager, Aurizon Mines
Ltd. �A sustained and aggressive exploration program, focusing on different
targets, will be used to test the potential of another major gold deposit
in the area.�
�We are
pleased to enter into this agreement with Azimut
and Everton, which is consistent with our strategy of building a balanced
portfolio of exploration properties, close to our technical base, in one
of the premier mining jurisdictions in the world.� said David Hall, Aurizon�s C.E.O.
A sketch is
attached showing the location of the Opinaca
Property.
Qualified Person
Information
of a scientific or technical nature was prepared under the supervision of
Martin Demers, P. Geo., Exploration Manager of Aurizon
and a Qualified Person under National Instrument 43-101.
About
Aurizon
Aurizon Mines Ltd. is a gold producer with a growth
strategy focused on developing its existing projects in the Abitibi
region of north-western Quebec, one of the world's most favourable mining jurisdictions and prolific gold and
base metal regions, and by increasing its asset base through accretive
transactions. Aurizon shares trade on the
Toronto Stock Exchange under the symbol "ARZ" and on the NYSE
Amex under the symbol "AZK". Additional information on Aurizon and its properties is available on Aurizon's website at http://www.aurizon.com.
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Forward Looking Statements and Information
This news release contains
�forward-looking statements� and �forward-looking information� within
the meaning of applicable securities regulations in Canada and the
United States (collectively, �forward-looking information�). The
forward-looking information contained in this news release is made as
of the date of this news release. Except as required under applicable
securities legislation, the Company does not intend, and does not
assume any obligation, to update this forward-looking information.
Forward-looking information includes, but is not limited to, statements
with respect to and the effects thereof, the timing and amount of
estimated exploration expenditures, plans and budgets for and expected
timing and results of exploration activities, requirements for
additional capital, government regulation of mining operations,
environmental risks, reclamation obligations and expenses, title disput es or claims,
adequacy of insurance coverage, the availability of qualified labour. Often, but not always, forward-looking
information can be identified by the use of words such as �plans�,
�expects, �is expected�, �budget�, �scheduled�, �estimates�,
forecasts�, �intends�, �anticipates�, or �believes�, or the negatives
thereof or variations of such words and phrases or statements that
certain actions, events or results �may�, �could�, �would�, �might�, or
�will� be taken, occur or be achieved.
The forward-looking information
contained in this news release is based on certain assumptions that the
Company believes are reasonable, that the current price of and
demand for gold will be sustained or will improve, the supply of gold
will remain stable, that the general business and economic conditions
will not change in a material adverse manner, that financing will be
available if and when needed on reasonable terms and that the Company
will not experience any material accident, labour
dispute, or failure of plant or equipment. However, forward-looking
information involves known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or achievements
of the Company to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking
information. Such factors include, among others, the risk that actual
results of exploration activities will be different than anticipated,
that cost of labour, equipment or materials
will increase more than expected, that the future price of gold will
decline, that the Canadian dollar will strengthen against the U.S.
dollar, that mineral resources are not as estimated, that actual
costs or actual results of reclamation activities are greater than
expected; that changes in project parameters as plans continue to be
refined may result in increased costs, of accidents, labour disputes and other risks generally
associated with exploration, unanticipated delays in obtaining
governmental approvals or financing or in the completion of exploration
activities, as well as those factors and other risks more fully described
in Aurizon�s Annual Information Form filed
with the securities commission of all of the provinces and territories
of Canada and in Aurizon�s Annual Report on
Form 40-F filed with the United States Securities and Exch ange Commission,
which are available on Sedar at www.sedar.com and on Edgar at www.sec.gov/. Although the Company has attempted to identify important
factors that could cause actual actions, events or results to differ
materially from those described in forward-looking information, there
may be other factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
forward-looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Readers are cautioned not to place
undue reliance on forward-looking information due to the inherent
uncertainty thereof.
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