TORONTO, ONTARIO--(Marketwire - Dec. 20, 2011) - Thundermin Resources Inc. ("Thundermin") (News - Market indicators) and 50% joint venture partner Cornerstone Resources Inc. ("Cornerstone") (TSX VENTURE:CGP) announce that a National Instrument 43-101 ("NI 43-101") compliant Technical Report and Preliminary Economic Assessment ("PEA") for the 100% owned Little Deer Copper Deposit ("Deposit"), which was released on November 1, 2011, has been filed on SEDAR and posted on each company's respective web sites. The Deposit is located approximately 10 km north of Springdale in north-central Newfoundland.
The Technical Report and PEA for the Deposit entitled "Technical Report and Preliminary Economic Assessment of the Little Deer Copper Deposit, Newfoundland, Canada, November 1, 2011" was prepared by Mr. Eugene Puritch, P. Eng., President of P&E Mining Consultants Inc. ("P&E"), Dr. Wayne Ewert, P. Geo., Vice President, P&E, Mr. Kirk Rodgers, P. Eng., Mr. James L. Pearson, P. Eng., Mr. David Orava, P. Eng. and Mr. Alfred Hayden, P. Eng., all being independent Qualified Person's in accordance with NI 43-101.
John B. Heslop, President and CEO of Thundermin stated "The results of the PEA indicate that there is potential to develop the Deposit on an attractive economic basis at current metal prices. During 2012, Thundermin and Cornerstone will continue to advance the project towards the pre-feasibility stage through more advanced technical studies and an infill drilling program designed to upgrade inferred resources to the indicated resources category".
Little Deer Joint Venture
Under the terms of its joint venture agreement with Cornerstone, Thundermin has the right to increase its interest in the Little Deer property to 75% by completing a feasibility study and by arranging 100% of the necessary bank financing required to place the property into commercial production.
About Thundermin
Thundermin is a Canadian-based mineral exploration company focused on the exploration for and the discovery of economically viable base metal and gold deposits in Canada. Thundermin has an interest in, or the right to earn an interest in 12 base metal and gold properties in Canada. Thundermin owns a 100% interest in the Lebel Township gold property, which is located on the Kirkland Lake Main Break in the prolific Kirkland Lake gold camp. Thundermin recently acquired the right to earn a 100% interest in eight exploration licenses covering a large portion of the Stirling volcanogenic massive zinc-lead-copper-silver-gold sulphide belt located on Cape Breton Island, Nova Scotia.
Thundermin has royalty interests in 28 base metal and gold properties located in Manitoba, Saskatchewan, British Columbia and Quebec, the most significant being a 2.5% net smelter return royalty in the Pelletier Lake gold deposit which is under option to Alexis Minerals Corporation. Thundermin also has various shareholdings in thirteen other junior resource companies that are actively exploring for base metal, gold, chrome, vanadium-titanium and diamond deposits in Canada.
Forward-Looking Statements
This news release may contain "Forward-Looking Statements" that involve risks and uncertainties, such as statements of Thundermin's plans, objectives, strategies, intentions and expectations. The words "potential," "anticipate," "forecast," "believe," "estimate," "expect," "may," "project," "plan," and similar expressions are intended to be among the statements that identify "Forward-Looking Statements". Although Thundermin believes that its expectations reflected in these "Forward-Looking Statements" are reasonable, such statements may involve unknown risks, uncertainties and other factors disclosed in our regulatory filings that can be viewed on the SEDAR website at www.sedar.com. For us, uncertainties arise from the behavior of financial and metals markets and from numerous other matters of national, regional, and global scale, including those of an environmental, climatic, natural, political, economic, business, competitive, or regulatory nature. These uncertainties may cause our actual future results to be materially different than those expressed in our "Forward-Looking Statements". Although Thundermin believes the facts and information contained in this news release to be as correct and current as possible, Thundermin does not warrant or make any representation as to the accuracy, validity or completeness of any facts or information contained herein and these statements should not be relied upon as representing its views subsequent to the date of this news release.
Visit Thundermin's website at www.thundermin.com or the SEDAR website at www.sedar.com.
