TORONTO, ONTARIO--(Marketwire - July 21, 2011) - Thundermin Resources Inc. ("Thundermin") (News - Market indicators) announces that it has executed a formal agreement (the "Agreement") with two vendors (the "Vendors") giving Thundermin the right to acquire a 100% interest in eight Exploration Licences (404 claims over 64.6 km²) (the "Stirling Property") which cover a large portion of the Stirling volcanogenic massive zinc-lead-copper-silver-gold sulphide belt located on Cape Breton Island, Nova Scotia (see Thundermin's news release dated June 23, 2011 for additional details on the terms of the Agreement and the Stirling property).
The Stirling Property covers approximately 13 kms of favourable volcanic stratigraphy trending south- southwest from the past-producing Mindamar Mine. The Mindamar Mine, which was mined in the 1930's and in the 1950's, consisted of numerous massive sulphide lenses which contained over 1,000,000 tonnes of ore grading 6.3% Zn, 1.5% Pb, 0.8% Cu, 74.0 g/t Ag and 1.1 g/t Au. Thundermin believes that there is excellent potential to make additional precious metal rich, polymetallic base metal discoveries on the Stirling Property.
John B. Heslop, President & CEO of Thundermin said "We are extremely pleased to have acquired this significant land package covering an area that we feel is highly prospective for the discovery of precious metal rich, zinc-lead-copper deposits. No substantial exploration work has been undertaken on the property since the early 1990's and we believe that, with the employment of today's advanced geophysical techniques, the potential exists for the discovery of additional deposits on the property. The Stirling Property is an early stage project that will complement our more advanced stage Little Deer copper project in Newfoundland".
Planning is currently underway for an initial exploration program consisting of line cutting, prospecting, geological mapping and DEEPEM and IP geophysical surveying over key target areas. It is anticipated that this work, which is designed to identify drill targets, will commence in August and continue into the fall of 2011.
About Thundermin
Thundermin is a Canadian-based mineral exploration company focused on the exploration for and the discovery of economically viable base metal and gold deposits in Canada. Thundermin has an interest in, or the right to earn an interest in 12 base metal and gold properties in Canada. The most significant of these is the Little Deer copper property in the Springdale area of Newfoundland where Thundermin and 50% joint venture partner Cornerstone Resources Inc. have outlined Indicated Mineral Resources of 1,911,000 tonnes grading 2.37% copper and Inferred Mineral Resources of 3,748,000 tonnes grading 2.13% copper. Thundermin also has royalty interests in a further 28 base metal and gold properties located in Manitoba, Saskatchewan, British Columbia and Quebec, the most significant being a 2.5% net smelter return royalty in the Pelletier Lake gold deposit which is under option to Alexis Minerals Corporation. Thundermin also has various shareholdings in thirteen other junior resource companies that are actively exploring for base metal, gold, chrome, vanadium-titanium and Diamond deposits in Canada.
Forward-Looking Statements
This news release may contain "Forward-Looking Statements" that involve risks and uncertainties, such as statements of Thundermin's plans, objectives, strategies, intentions and expectations. The words "potential," "anticipate," "forecast," "believe," "estimate," "expect," "may," "project," "plan," and similar expressions are intended to be among the statements that identify "Forward-Looking Statements". Although Thundermin believes that its expectations reflected in these "Forward-Looking Statements" are reasonable, such statements may involve unknown r isks, uncertainties and other factors disclosed in our regulatory filings that can be viewed on the SEDAR website at www.sedar.com. For us, uncertainties arise from the behavior of financial and metals markets and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our "Forward- Looking Statements". Although Thundermin believes the facts and information contained in this news release to be as correct and current as possible, Thundermin does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views subsequent to the date of this news release.
