Rocmec Mining Inc. Symbol: RMI: TSX-V
Thermal fragmentation.mining ounces not TONNES!
ROCMEC ENTERS INTO A JOINT-VENTURE OPTION AGREEMENT FOR ITS ROCMEC 1 PROPERTY
Vaudreuil-Dorion, Qu�bec, September 30th, 2009 - Rocmec Mining Inc. (the "Company") (TSX-V: RMI) is pleased to announce that it has entered into an option agreement with a group of Quebec based investors enabling them to acquire a 49% interest of its Rocmec 1 gold property for an amount of $6,000,000 CAN payable in cash. The option shall be structured as a participating loan with the right to convert the loan into a 49% equity ownership in the property. The agreement stipulates that Rocmec will prepare a pre-feasibility study, once completed; the investors will have 180 days following reception of the report to exercise their option.
In order to complete the pre-feasibility report and new resource calculation, Rocmec will proceed with a diamond drill campaign on its Rocmec 1 gold property located in Rouyn-Noranda, Quebec.
This diamond drill campaign is a continuation of the very successful diamond drill programme conducted during 2008 and will focus on targeting the McDowell, Talus and Boucher structures at depth. SGS G�ostat lt�e of Blainville (Quebec) has been mandated to plan the diamond drill programme and also prepare a pre-feasibility study that will include a new mineral resource calculation. Management expects to receive the reports before year-end.
The Rocmec 1 Property
The Rocmec 1 property is located in the Dasserat Township, some 36 km west of Rouyn-Noranda (Quebec) in the Abitibi region of Quebec, in close proximity to two World-Class Mining Camps, the Rouyn-Noranda Copper Gold Camp to the SE in Quebec, and the Kirkland Lake / Larder Lake Gold Camp to the SW in Ontario.
The gold mineralization at the Rocmec 1 property is linked to E-NE, centimetric and metric wide quartz veins within a kilometric long by 600 m wide gabbro to granodiorite intrusive host. There are at least six major vein systems identified on the property; however, recent underground work by the Company has confirmed that several veins are likely part of the same system, simply offset by north trending faults. The veins are part of diverging / converging or an anastomosing fracture system than includes shearing, alteration (silica, chlorite, sericite, epidote and carbonate) and 2 to 10% disseminated and vein-type pyrite that can attain overall widths in excess of 30 m.
A technical report (dated March 19, 2007), compliant with National Instrument (NI) 43-101 standards of disclosure, was prepared by Syst�mes G�ostat International Inc. of Blainville (Quebec) identified mineral resources of 521,800 tonnes @ 5.15 g/t gold (86,550 ounces of gold) in the Measured and Indicated Resources category. There is an additional 2,250,000 tonnes @ 6.32 g/t gold (456,900 ounces of gold) in the Inferred Resources category.
Additional information on the Rocmec 1 property including photos of core samples from the Boucher structure are available at http://www.rocmecmines.com/rocmec1_ang.asp
Rocmec also announces the closing of a private placement of 13,835,444 flow-through units of the Company, at a purchase price of $0,09 per FT Unit, for a total subscription amount of $1,245,190.00 . Each FT Unit being comprised of one flow-through common share of the Company and one-half of one non-flow-through common share purchase warrant, each whole common share purchase warrant of the Company is exercisable into one common share of the Company at a price of $0.10 per common share for a period of 24 months from the date of the issue of the FT Units. The private placements are subject to final TSX Venture Exchange acceptance for filing. All securities issued are subject to a four-month hold period from the closing date expiring on January 31st, 2010.
Rocmec Mining Inc. is a Canadian junior exploration company actively involved in the acquisition, exploration and development of precious metal projects. The Company's exclusive thermal fragmentation process combined with its growth strategy place it as the partner of choice for the development of narrow high-grade precious metal quartz vein properties. The Company is listed on the TSX Venture Exchange and trades under the symbol: RMI
Rocmec's growth strategy is to focus on the development of quality assets that will significantly enhance shareholder value. Exploitation of narrow high-grade precious metal quartz veins with its exclusive thermal fragmentation process coupled with conventional mining methods will lead the Company in becoming a mid-size gold producer. The acquisition, development and future exploitation activities the company's Rocmec I property are an excellent example of this strategy.
Thermal fragmentation.mining ounces not TONNES!
The Thermal Fragmentation Mining Method video can be viewed on Rocmec's website or by clicking the following link:
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Corporation expects, are forward looking statements. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
For additional information, contact:
Mr. Donald Brisebois Mr. John Stella
President & CEO Investor relations Manager
Telephone (450) 510-4442 (450) 510-4442
T�l�copie (450) 510-9901 (450) 510-9901
Cell (514) 718-7976
Email: email@example.com Email: firstname.lastname@example.org
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.