SGX Resources Completes Terms of Shoreacres Option Agreement and Acquires Mineral Property
29.05.2014 | Marketwire
This press release is not for dissemination in the United States or for distribution to U.S. news wire servicesWINNIPEG, MANITOBA -- (Marketwired - May 29, 2014) - Dale Ginn, Chief Executive Officer of SGX Resources Inc. (the "Company") (TSX VENTURE:SXR), is pleased to announce that the Company has completed all cash payments and share issuances required pursuant to the option agreement (the "Option Agreement") dated May 17, 2010 between the Company and Shoreacres Exploration Limited ("Shoreacres") to earn its 100% interest in leased claim 114 (the "Mineral Property") located in Sothman Township in the Timmins, Ontario area. In accordance with the terms of the Option Agreement, Shoreacres will transfer ownership of the Mineral Property to the Company within 30 days. Shoreacres shall retain a 2% net smelter returns royalty on the Mineral Property in accordance with the terms of the Option Agreement.
The completion of this option agreement solidifies the Company's land position around its Edleston gold deposit located south of Timmins between the Cote Lake deposit and the Young Davidson mine. The Company's intent is to extend the known limits of the deposit and to more broadly explore the land package based on geological signatures and patterns identified while discovering and expanding on the Edleston deposit.
A copy of this press release will be made available on the Company's website and will be filed with SEDAR.
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 the contents of this News Release.
The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied in the forward-looking information.
Contact
SGX Resources Inc.
Dale Ginn, EO
(204) 794-5818
SGX Resources Inc.
Investor Relations
1-888-749-4621
www.sgxresources.com