Silver Shield Acquires Key Land Position In Hislop Township
15 3월 2012 - 8:32AM
PR Newswire (Canada)
BURLINGTON, ON, March 15, 2012 /CNW/ - Silver Shield Resources
(SSR-TSXV) has acquired 21 mining claim units in Hislop
Township approximately 7 km SE of Matheson Ontario. The former
major producer Ross Gold Mine (8 million tonnes @0 .15 oz/t Au) is
located approximately 6 km E and SE of the claims, and the Canadian
Arrow Mine is located 4 km to the SW. Currently operating in
the area is the Black Fox Mine (12.25 million tones @ 4.93 g/t Au)
of Brigus Gold (BRD-TSX) along with their new Grey Fox Zones
(6.33million tones @ 2.82 g/t Au) located 3-5 Km E and NE of the
new additions. St Andrew Goldfields' (SAS-TSX) operating Hislop
Mine stands between the Ross and Grey Fox zones. Stroud Resources
(SDR-TSX-V) and Mexivada (MVN-TSX-V) are currently active in the
area. Tim Towers, CEO commented "While the company maintains a
production focus, these grassroots claims represent a low cost
entry in an area which the company believes can be the next major
gold play in Canada. The outright purchase with no additional
payments secures our place in the area." Surface exploration work,
including, mapping, trenching, Magnetic and deep penetration IP
surveys are planned for late 2012. Terms of the Agreement: Silver
Shield acquires 100 % interest in the 21 claim group Silver Shield
pays the vendors a total of $ 6,000.00 and will issue the vendors
2,200,000 common shares .(2205730 Ontario Inc. $ 4,000 and
1,100,000 shares and 2125930 Ontario Limited $2,000 and 1,100,000
common shares.) The vendors retain a 2% NSR on all production from
the claims subject to a 1 % buyback option for a sum of $ 1,000,000
The Agreement is subject to regulatory approvals. Other Business:
The company has secured a short term loan by way of a promissory
note in the amount of $26,000, due and payable with accrued
interest on September 5, 2012. Security on the note is the
company's interest in its Lost Dog Property. The company wishes to
announce the resignation of NR McLeod CA of North Bay, Ontario as
company auditor. NR McLeod has been with the company at its
inception. Ross Pope and Company of Kirkland Lake Ontario has been
appointed new auditors. Mr. Greg Boone has announced his
resignation from the board due to his inability to devote the time
he wishes due to the time constraints of his other business
interests. The remaining board members wish him well for the
future. The TSX Venture Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of this news
release. Silver Shield Resources Corp. CONTACT: Tim Towers, CEO at
(289)-337-6162Email: silvershield@cogeco.net
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