DARNLEY BAY RESOURCES LTD - Completes Property Payment
April 10, 2013
Darnley Bay Resources Limited (the "Company" or "Darnley Bay") has made
a payment of $440,896, comprised of expenses, administrative fees and
interest owing with respect to a previous drill program, to the Inuvialuit
Regional Corporation. The payment brings the mineral concession agreement
entered into between Darnley Bay and Inuvialuit Regional Corporation in
2009 into good standing. The final payment represents part of more than
$3.8 million paid to the Inuvialuit Regional Corporation since 1995.
Management intends, subject to financing, to initiate a drill program on
the gravity anomaly on the property in 2013.
"We are happy to get these payments behind us and focus our funds on
finding the source of the gravity anomaly. We look forward to working with
the Inuvialuit Regional Corporation on this initiative," noted Kerry Knoll,
Chairman of Darnley Bay Resources.
The Darnley Bay property hosts North America's strongest isolated
gravity anomaly, which has been favourably compared by the Geological
Survey of Canada to other prominent gravity anomalies such as those at the
prolific mining camps of Noril'sk in Russia and Sudbury basin in Ontario.
It is located near Paulatuk, Northwest Territories, on the Arctic coast.
The Darnley Bay anomaly is larger and stronger than any of these
comparatives by a wide margin, measuring 100 kilometres long north to south
and about 80 kilometres wide. The GSC discovered the anomaly in 1969, and
its source has never been explained. The company has 100-per-cent control
of its exploration and potential development subject to certain back-in and
other rights of Inuvialuit Regional, which holds the land on which it
occurs.
Forward-Looking Information
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other than
statements of historical facts, that address future production, reserve
potential, exploration drilling, exploitation activities and events or
developments that Darnley Bay expects are forward-looking statements.
Although Darnley Bay believes the expectations expressed in such statements
are based on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ materially
from those in the statements. There are certain factors that could cause
actual results to differ materially from those in forward-looking
statements. These include market prices, exploitation and exploration
successes, continued availability of capital and financing, and general
economic, market or business conditions. Investors are cautioned that any
such statements are not guarantees of future performance and actual results
or developments may differ materially from those projected in the
forward-looking statements. For more information on Darnley Bay, investors
should review registered filings at www.sedar.com.
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 this release.
TEL: (416) 862-7885 Jamie Levy, President and CEO
FAX: (416) 862-7889
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VanEck Vectors Global Alternative Energy ETF
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CODE : DBL.V |
ISIN : CA2369011044 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
. Darnley détient divers projets d'exploration au Canada. Son principal projet en exploration est PAULATUK (FRANKLIN) au Canada. |