PRESS RELEASE
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B20 nickel-copper property optioned for 1 M$
Rimouski, February 20, 2007 – Ressources Appalaches
(APP-TSX-V) announces that Ressources Appalaches and Marum
Resources Inc., each holding respectively 75%
and 25% of the B20 copper-nickel property, announce an agreement with
Exploration Esbec, a private company. Esbec has the right to acquire a 50%
interest in the property by paying to Ressources Appalaches $150,000 and
performing $1,000,000 in exploration work. This agreement will allow
exploration on theB20 property to continue without further cost to Ressources
Appalaches or to Marum.
Esbec has the
right to acquire a 50% interest in the property by paying to Ressources
Appalaches $10,000 upon signing the agreement, $40,000 on the six month
anniversary of the agreement, $50,000 on the first year anniversary of the
agreement and $50,000 on the second year anniversary of the agreement. Esbec
must also perform exploration work on the B20 property in the amount of
$150,000 before the first year anniversary of the agreement, $250,000 before
the second anniversary, $300,000 before the third anniversary and $300,000
before the fourth anniversary, for a total amount of $1,000,000. If Esbec
fulfills all of the requirements of the agreement it will earn a 50% interest
in the property. Ressources Appalaches will then hold a 37.5% interest and Marum
will hold a 12.5% interest. The operatorship of the project will revert to
Ressources Appalaches. All of the cash payments made by Esbec shall remain with
Ressources Appalaches in compensation for maintaining the property in good
standing since 2003.
The property
is located near Port-Cartier,
Quebec on the north shore of the
St-Lawrance river. Over 16 Cu-Ni-Co showings were discovered on surface over a
strike length of 2.5 km
with grades up to 1.74% Ni, 1.28% Cu and 0.23% Co. Ressources Appalaches has
completed 41 diamond drill holes for a total of 6,694 metres since
2000 and obtained similar grades to a vertical depth of 265 metres.
The
mineralization is associated with an electromagnetic conductor that is 0.5 km wide and 3 km long that is oriented NE
at a high angle to the lithologic contacts and the ede of the Riviere
Pente-Cote anorthosite complex. The mineralized zone remains open in all
directions and several attractive geophysical anomalies remain unexplored.
The contents of
this press release were prepared by Alain Hup�, Geologist and NI-43-101 Qualified
Person. The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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Contact information :
�������������������������������������������������������������������������������������������������������� BullRun Investor Relations
Christian
Guilbaud������������������������������������������������������������������������������������������������������ Kal Malhi
Investor Relations������������������������������������������������������������������������������������������ Investor Relations
Phone : (514) 813-7862��������������������������������������������������������������������������� Phone :
(604) 940-9756
info@ressourcesappalaches.com