First Idaho Resources Announces Acquisition of Additional 50% Working Interest in Hercules Property
06.05.2013 | Marketwire
VANCOUVER, May 6, 2013 - Russell Marshall, President and CEO of First Idaho Resources Inc. (TSX VENTURE:FI) (the "company" or "First Idaho") is pleased to announce that on April 1, 2013 Anglo-Bomarc Mines Ltd. gave notice to First Idaho Resources Inc. of its intention not to participate in any current or future work program or programs on the Hercules property or provide any additional expenditures of its proportionate share. Pursuant to the terms of the April 5, 1983 joint venture agreement between Anglo-Bomarc US, a wholly owned subsidiary of Anglo-Bomarc Mines Ltd. and First Idaho Resources Inc., the companies have agreed to convert First Idaho's interest to a 100% working interest in the Hercules property for a 20% net profit interest in the Hercules group of claims to Anglo-Bomarc. Further development costs on the Hercules will be the sole responsibility of First Idaho. The new agreement is effective as of April 15, 2013.For further information on First Idaho Resources Inc. and the Hercules Silver-Lead-Zinc project please visit www.FirstIdahoResources.com.
We seek safe harbor.
First Idaho Resources Inc.
Russell Marshall, President and CEO
About First Idaho Resources Inc.
First Idaho Resources (TSX VENTURE:FI) is a Canadian-based silver and base metals exploration and mine development company engaged in the evaluation and advancement of a group of claims known as the Hercules Project. The company owns a 100% working interest in the 1490 acre Hercules property, located in Southwest Idaho, a first-class mining jurisdiction home to some of the world's most prolific silver discoveries. 308 holes have been drilled and over $6 million has been spent on evaluating the Hercules to date. Our vision is to deliver corporate growth and shareholder value through the further definition and development of the Hercules, which has been looked at as a highly prospective property since the late 1900s. First Idaho Resources Inc. is listed on the TSX Venture.
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.
Contact
First Idaho Resources Inc.
Russ Marshall President and CEO
604-734-1628
info@firstidahoresources.com
www.firstidahoresources.com