Fort St. James Nickel (FTJ) appears to have great short term and long term potential. They are drilling right now.
Best Regards Colin
FOR IMMEDIATE RELEASE TSX-V:OAR
OROANDES PURCHASES 100% OF KILOMETRE 26 PROJECT AND
CHANGES NAME TO
FORT ST. JAMES NICKEL CORP.
Vancouver, British Columbia - December 1, 2011 - OroAndes Resource Corp. (the "Company") is pleased to announce that, further to its news release of September 12, 2011, upon receiving shareholder approval and acceptance by the TSX Venture Exchange, it has completed the acquisition (the "Acquisition") from Eastfield Resources Ltd. (TSX-V:ETF) ("Eastfield") of a 100% interest in the Kilometre 26 Property (the "Property"). Pursuant to the terms of the purchase agreement between the Company and Eastfield, the Company has issued to Eastfield 20,000,000 common shares in the capital of the Company (the "Payment Shares") and Eastfield has agreed that it will, forthwith upon expiration of the four month and one day hold period (being April 2, 2012), distribute the Payment Shares to Eastfield's shareholders pro-rata in accordance with the number of common shares of Eastfield held by each such shareholder.
As accepted by the TSX Venture Exchange and approved by shareholders at the shareholder meeting held October 28, 2011, the Company has changed its name. At open of trading on Friday, December 2, 2011, the Company's common shares will commence trading on the TSX Venture Exchange in the name Fort St. James Nickel Corp. under the trading symbol "FTJ".
The Property is comprised of 22 map staked mineral claims covering 9,819 hectares located in the Omineca Mining Division of British Columbia, in which the Company has had an option to acquire from Eastfield a 60% interest since September 2009, when it commenced exploration of the Property. As provided for in the purchase agreement between the Company and Eastfield, the option agreement between the Company and Eastfield related to the Property and all of the obligations on the part of both the Company and Eastfield under the option have terminated upon closing of the Acquisition.
Further detail with respect to recent exploration work conducted on the Property is available in the Company's news releases, which have been electronically filed with regulators and are available for viewing on SEDAR under the Company's Issuer Profile.
For further information, please contact:
Head Office:
Sandy MacDougall
President and Chief Executive Officer Tel. 604-662-8186
Fax 604-662-8170
www.oroandes.com
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Maxim Resources Inc.
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CODE : MXM.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Maxim Res. is a and oil exploration company based in Canada. Maxim Res. develops natural gas in Australia. Its main asset in production is SELLHEIM GOLD in Australia and its main asset in development is SOUTH ERIN BLOCK in Australia. Maxim Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 292 050 as of today (US$ 218 813, € 209 404). Its stock quote reached its highest recent level on December 30, 2005 at CA$ 1.10, and its lowest recent point on December 16, 2016 at CA$ 0.01. Maxim Res. has 58 410 000 shares outstanding. |