Temex Resources Corp

Published : February 19th, 2008

Sets Terms for East West Earn In on Claims Near Noront Ni-Cu-PGE Discovery

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Copper | Diamond | Nickel | Palladium | Platinum | Uranium |
======================================================================
Re: News Releases - Tuesday, February 19, 2008
Temex Sets Terms for East West Earn In on Claims Near Noront
Ni-Cu-PGE Discovery
======================================================================

NEWS RELEASE NR 02-2008

TSX Venture Exchange:TME, Frankfurt Exchange:TQ1


TORONTO, ONTARIO: Temex Resources Corp. (TSX Venture Exchange:TME,
Frankfurt:TQ1) ("Temex" or "the Company") announces that it has entered
into a binding letter of intent ("LOI") with East West Resources
Corporation ("East West") whereby Temex has granted East West the
option to acquire a 50% interest in 25 staked mining claims (the
"Claims") totaling 333 units (13,320 acres), in the general area of the
Noront Resources Ltd. ("Noront") recent Ni-Cu-PGE discovery. The
Claims, which are located in the Sachigo Greenstone Belt in the James
Bay Lowlands region of northern Ontario, are located south of the high
grade Noront Eagle One nickel-copper-platinum-palladium discovery.

Highlights :
.. East West granted an option to earn 50% interest in claim group near
Noront Ni-Cu-PGE discovery
.. Airborne EM -- Mag survey scheduled to begin
.. Temex total land position now increased to 7,000 mining units
covering 280,000 acres; interests range from residual royalties to 100%
ownership

The Claims cover features thought to represent geological environments
similar to the geological environment near the Noront Ni-Cu-PGE
discovery. It is believed that the recently acquired Claims have never
been subjected to any previous exploration for Ni-Cu-PGE
mineralization, and for the most part, the Claims have not been covered
by a modern magnetic and electromagnetic geophysical survey. The
initial exploration program will consist of a combination of airborne
and ground geophysical surveying followed by Diamond drill testing of
any priority targets.

In order to earn its undivided 50% interest in the claims East West
shall, upon execution and delivery of a definitive Option and Joint
Venture Agreement, make a cash payment of $100,000 and issue to Temex
250,000 common shares of East West, and complete an aggregate of
$1,000,000 of exploration expenditures (the "Work Commitment") over a
three-year period. East West must also issue an additional 250,000
shares on the first anniversary of the agreement.

East West shall be entitled to extend for one year the time for
completion of each milestone of the Work Commitment by notice to Temex
if given prior to the applicable anniversary of signing. Each
extension shall require East West to issue to Temex 250,000 common
shares of East West.

During the earn-in period, East West may appoint Temex as its Agent to
carry out the exploration programs and Temex would be entitled to
charge an industry standard management fee. Upon East West earning its
50% interest in the Claims, Temex shall have 60 days from the date of
exercise of the Option to elect either to form a 50:50 Joint Venture
with East West for further exploration and development of the claims or
to forego the Joint Venture and reduce its undivided 50% interest in
the Claims to a 15% carried and non-assessable interest in the Claims
to the date of commencement of commercial production from the Claims.
Should Temex elect to form a joint venture, Temex shall be the operator
and the Joint Venture shall be governed by a joint management
committee. The terms of the transaction are subject to TSX Venture
Exchange approval.

Temex now holds a direct interest in 7,000 mining claim units covering
280,000 acres in the immediate area and region of the Double Eagle
discovery making Temex one of the largest landholders in the region.
The claims subject to the LOI, located to the southwest of the Noront
discovery, are owned 100% by Temex.

Ian Campbell, P. Geo., is the designated qualified person responsible
for the preparation of this news release. Bruce Durham, Executive
Chairman of Temex, also serves as a Director of East West. For further
information on Temex please contact Ian Campbell or Bruce Durham, at
416-862-2246 or visit the Company's website at www.temexcorp.com.
Temex is a well-funded Canadian exploration company focused on
advancing its precious metal, Diamond, nickel and uranium projects in
Manitoba and Ontario.

On behalf of the Board of Directors,

"Ian Campbell"

Ian Campbell
President and CEO

*The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release*

======================================================================
Copyright (c) 2008 TEMEX RESOURCES CORP (TME) All rights reserved.
For more information visit our website at http://www.temexcorp.com/ or
send mailto:info@temexcorp.com
Message sent on Tue Feb 19, 2008 at 7:07:58 AM Pacific Time
======================================================================
.

Temex Resources Corp

EXPLORATION STAGE
CODE : TME.V
ISIN : CA87971U1057
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

Temex Resources is a gold and copper exploration company based in Canada.

Temex Resources holds various exploration projects in Canada.

Its main exploration properties are HALLNOR (PAMOUR), LATCHFORD, URANIUM, WILSON LAKE, HUSTON LAKE / MARIJANE LAKE, WEBEQUIE, GOWGANDA, TIMMINS - WHITNEY TOWNSHIP, MC FAULD'S LAKE and JUBY in Canada.

Temex Resources is listed in Canada and in Germany. Its market capitalisation is CA$ 22.4 millions as of today (US$ 16.9 millions, € 15.1 millions).

Its stock quote reached its highest recent level on December 31, 2003 at CA$ 1.10, and its lowest recent point on May 08, 2015 at CA$ 0.04.

Temex Resources has 186 590 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Annual reports of Temex Resources Corp
2008 Annual Report
Financings of Temex Resources Corp
10/14/2011Raises $2.66 Million Pursuant to Non-Brokered Private Placem...
Nominations of Temex Resources Corp
1/24/2014Appoints Derrick Weyrauch as Chief Financial Officer
3/14/2013Appoints René Marion, P.Eng., to Board of Directors
Project news of Temex Resources Corp
6/30/2015Oban Mining Corporation enters into Arrangement Agreements i...
6/30/2015Oban Mining Corporation enters into Arrangement Agreements i...
6/30/2015Oban Mining Corporation enters into Arrangement Agreements i...
6/30/2015Oban Mining Corporation enters into Arrangement Agreements i...
6/30/2015Oban Mining Corporation enters into Arrangement Agreements i...
6/30/2015Oban Mining Corporation enters into Arrangement Agreements i...
6/30/2015Oban Mining Corporation enters into Arrangement Agreements i...
6/30/2015Oban Mining Corporation enters into Arrangement Agreements i...
4/29/2013(Juby)Red Cloud Mining Capital Congratulates Temex Resources Corp....
1/15/2013(Juby)Intersects 2.13 g/t gold over 47.69 metres and Discovers Add...
9/5/2012Red Cloud Mining Capital Congratulates Temex Resources Corp.
4/29/2011(Gowganda)LAUNCHES SILVER EXPLORATION PROGRAM - NEW DRILL TARGETS DEFI...
4/12/2011(Juby)DISCOVERS NEW GOLD ZONE, JUBY GOLD PROJECT
2/3/2011(Juby)INTERSECTS 47.0 METRES GRADING 1.36 G/T GOLD; JUBY GOLD DEPO...
2/27/2009(Hallnor (pamour))Reports High Grade Gold Results Hallnor Property, Timmins Go...
9/19/2007and MacDONALD MINES AGRESSIVELY ACQUIRE SIGNIFICANT LAND POS...
9/11/2007(Juby)Announces Commencement of Diamond Drilling on Juby North Gol...
5/8/2007(Timmins - Whitney Township)Initiates 2007 Program On Whitney Gold Property 5000 Metre D...
Corporate news of Temex Resources Corp
9/14/2015Temex Announces Results of Annual and Special Meeting and th...
9/2/2015Temex Resources Corp. Announces Leading Independent Advisory...
8/18/2015Temex Files Management Information Circular related to its A...
8/10/2015Temex Announces New Date for Annual and Special Shareholder ...
7/31/2015Temex Terminates Arrangement Agreement with Oban Mining Corp...
7/31/2015IIROC Trading Resumption - TME
7/31/2015IIROC Trading Halt - TME
7/16/2015Temex Board Receives Superior Proposal From Lake Shore Gold ...
7/16/2015IIROC Trading Resumption - TME
7/16/2015IIROC Trading Halt - TME
2/26/2015Temex Achieves up to 98% Gold Recovery in Metallurgical Test...
2/24/2015Temex Achieves up to 98% Gold Recovery in Metallurgical Test...
12/18/2014Temex Announces Resignation of Director
12/18/2014Temex Announces Resignation of Director
12/8/2014Temex Purchases Strategic Property, Juby Gold Project, Ontar...
12/8/2014Temex Purchases Strategic Property, Juby Gold Project, Ontar...
7/15/2014Temex Strengthens Management and Board of Directors
7/8/2014Temex Reports on Drill Results on Whitney Gold Project, Timm...
6/24/2014Temex Reports on Results of Annual and Special Meeting of Sh...
6/17/2014Temex Reports Exceptional Near Surface Drill Results on Whit...
5/29/2014Temex Announces Exceptional Near Surface Drill Results on Wh...
4/8/2014Temex Commences 2014 Drill Program, Whitney Gold Project, Ti...
3/10/2014Temex Closes $2.77 Million Private Placement
2/26/2014(Juby)Files NI 43-101 Technical Report on Juby Gold Project, Ontar...
3/26/2013(Juby)Extends Mineralization at the Juby Gold Project in Northeast...
2/12/2013Intersects 60.40 g/t Gold over 0.50 Metres Near Surface at W...
10/23/2012Files NI 43-101 Technical Report for the Upper Hallnor Depos...
6/27/2011(Latchford)SET TO DRILL LATCHFORD HIGH GRADE GOLD PROJECT
6/8/2011(Gowganda)ANNOUNCES NI 43-101 RESOURCE ESTIMATE GOWGANDA SILVER PR...
5/12/2010Provides update on precious metals portfolio
11/4/2008and Nuinsco Commence Exploration on Uranium Project
2/19/2008 Sets Terms for East West Earn In on Claims Near Noront Ni-C...
9/26/2007announces Uranium Star to spend $1 million on Merico Ethel a...
7/17/2007Acquires Uranium Exploration Properties in Northwestern Onta...
6/19/2007Acquires Additional Nickel Exploration Property Adjacent To ...
6/12/2007Acquires Nickel Exploration Property Adjacent To Gold Chalic...
5/24/2007Bruce Durham Joins Temex as Executive Chaiman
2/21/2007Silver Tailings Project Update Gowganda Silver Project
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (TME.V)BERLIN (TQ1.BE)
0.120+0.00%0.0000
TSX-V
CA$ 0.120
09/21 15:59 -
0%
Prev close Open
0.120 0.120
Low High
0.120 0.120
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.120 -%
Volume 1 month var.
59,222 -%
24hGold TrendPower© : 44
Produces
Develops
Explores for Copper - Diamonds - Gold - Nickel - Palladium - Platinum - Silver - Uranium
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 11/5/2010
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$ 12.26+2.68%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 0.53-1.87%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$ 2.64-1.86%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$ 16.23+4.04%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.24+4.26%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.20+2.63%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$ 1.88+0.53%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 52.71+0.19%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 :