Vior Receives a $1.5 Million Payment From Aurvista Gold Corporation
Published : May 26, 2011
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QUÉBEC, CANADA--(Marketwire - May 26, 2011) - SOCIÉTÉ D'EXPLORATION MINIÈRE VIOR INC. (News - Market indicators)(FRANKFURT:VL5) – Société d'exploration minière Vior Inc. ("Vior") announces that it received from its partner on the Douay property (the "Property"), Aurvista Gold Corporation ("Aurvista"), the $1.5 million payment contemplated by the agreement dated March 7, 2011, as amended on March 23, 2011 (the "Agreement"). Consequently, considering that Aurvista has also incurred on the Property exploration expenditures totalling $2.5 million, Aurvista has therefore acquired an undivided 50% interest in the Property (see press release dated February 4, 2011 for more details on the transaction between Vior and Aurvista).

Furthermore, Aurvista may now acquire an additional 50% interest in the Property, thereby acquiring the Property from Vior, on the following conditions:

  • Aurvista must issue a minimum of 21.25 million common shares to Vior.

  • Aurvista shall have completed an initial public offering and a listing on the stock exchange before November 30, 2011.

In light of the foregoing, Vior confirms that its shareholders will be called to attend a special meeting of shareholders on July 8, 2011 in Québec City in order to approve the transaction with Aurvista. The shareholders of Vior will receive during the month of June a management proxy circular containing detailed information on the transaction and the special resolution of shareholders to approve such transaction.

Profile

Vior is a mining exploration company focused on developing its properties. The company owns 50% of the Douay gold project and other mineral properties.

SEDAR: Société d'exploration minière Vior inc.

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.

Claude St-Jacques
President
418 692-2678
cstjacques@vior.ca
or
Marc L'Heureux
Vice-President Exploration
418 692-2678
mlheureux@vior.ca
www.vior.ca

Vior Inc

EXPLORATION STAGE
CODE : VIO.V
ISIN : CA83364M1077
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Vior is a gold and cobalt development stage company based in Canada.

Vior holds various exploration projects in Canada.

Its main exploration properties are NOYARD AND VEZZA, LIGNERIS, LAC SEBASTIEN, DOMERGUE, BEAUCHASTEL, DOUAY NORTHWEST, DOUAY, FECTEAU, BUTEUX and LAC VOLANT in Canada.

Vior is listed in Canada and in Germany. Its market capitalisation is CA$ 5.2 millions as of today (US$ 4.2 millions, € 3.9 millions).

Its stock quote reached its lowest recent point on December 24, 2008 at CA$ 0.02, and its highest recent level on December 24, 2010 at CA$ 1.05.

Vior has 32 800 000 shares outstanding.

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