Castle Resources Makes Advance Royalty Payment
15 2월 2014 - 6:34AM
Marketwired
Castle Resources Makes Advance Royalty Payment
TORONTO, ONTARIO--(Marketwired - Feb 14, 2014) - Castle
Resources Inc. (TSX-VENTURE:CRI) ("Castle" or the "Company')
announces that further to its NSR agreement with Teuton Resources
Corp. ("Teuton"), all as disclosed in Castle's press release dated
April 6, 2010, it has issued to Teuton an aggregate of 500,000
common shares (the "Common Shares") in its capital at a deemed
price of $0.05 per Common Share. Pursuant to the NSR agreement with
Teuton, half of the $50,000 annual advance royalty is payable in
shares and the remainder in cash.
The Common Shares
issued to Teuton are subject to a four month statutory hold
commencing from the date of issue.
About Castle
Resources
Castle is a
Toronto-based junior mineral development company focusing on
high-quality, advanced projects. Management's goal is to continue
the redevelopment of the 100% owned past producing Granduc Copper
Mine and begin new exploration activities.
For more information
please visit Castle's website at www.castleresources.com.
Disclaimer
This news
release includes certain statements that may be deemed
"forward-looking statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and
applicable Canadian securities legislation. Forward-looking
statements include, but are not limited to, statements with respect
to the Corporation's operations, exploration and development plans,
expansion plans, estimates, expectations, forecasts, objectives,
predictions and projections of the future. Generally, these
forward-looking statements can be identified by the forward-looking
terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "projects",
"intends", "anticipates", or "does not anticipate", or "believes",
or "variations of such words and phrases or state that certain
actions, events or results "may", "can", "could", "would", "might",
or "will" be taken", "occur" or "be achieved". Forward-looking
statements are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of Castle Resources Inc. to
be materially different from those expressed or implied by such
forward-looking statements, including but not limited to: risks
related to the exploration and development of the Corporation's
Granduc Project, risks related to operations, construction delays
and cost overruns, the actual results of exploration, development
and construction activities, conclusions of economic evaluations,
changes in project parameters as plans continue to be refined,
future copper prices, as well as those factors discussed in the
sections relating to risk factors of our business filed in Castle
Resources Inc.'s required securities filings on SEDAR. Although
Castle Resources Inc. has attempted to identify important factors
that could cause results to differ materially from those contained
in forward-looking statements, there may be other factors that
cause results to be materially different from those anticipated,
described, estimated, assessed or intended.
There can be no
assurance that any forward-looking statements will prove accurate,
as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements. Castle
Resources Inc. does not undertake to update any forward-looking
statements that are incorporated by reference herein, except in
accordance with applicable securities laws.
The TSX Venture
does not accept responsibility for the adequacy or accuracy of this
news release.
Castle Resources Inc.Mike SylvestrePresident &
CEO416-366-4100mike@castleresources.comCastle Resources Inc.Lenny
ForehtVP Operations and Corporate
Development416-366-4100lforeht@castleresources.comwww.castleresources.com
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