Citation Resources Inc.: Biricu Access Agreement Finalized and Drill Permitting Update
VANCOUVER, BRITISH COLUMBIA -- (Marketwired - Jan 16, 2014) - Citation Resources Inc. (the "Company") (TSX VENTURE:CTT) is pleased to announce that it has entered into a formal access agreement with the community of Mezcala at its Biricu Project granting the Company permission and access to conduct drilling activities. The Mezcala region covered by the agreement encompasses substantially all of the priority drill targets previously identified by the Company in the four target areas at the Bircu Project (see prior news releases). Each of the four target areas contain the geophysical, geochemical and geological characteristics consistent with other discoveries in the area, including the neighboring Torex properties, Morelos and Media Luna, and Goldcorp's Los Filos.Citation continues to advance the process for obtaining the permits for a planned drill program and expects to have drill permits in hand by the end of March 2014.
The Company will finalize access arrangements with two other communities to enable it to drill the other identified priority drill target after completion of its current drill program.
Citation is also pleased to announce that it has commenced a search for a President and CEO to advance exploration and drill programs. "With the drill program now eminent, we are looking to expand our leadership team to include an experienced chief executive capable of taking the company through its next phase," said Matthew Watson, current CEO and Chairman.
About Citation Resources
Citation Resources Inc. is a growth-oriented, Canadian mining company dedicated to the exploration and development of precious and base metal resources. Citation is based in Vancouver, British Columbia and aims to create shareholder value through the acquisition, exploration, and development of profitable mineral properties, in a manner that is consistent with best practice in environmental stewardship, safety and stakeholder engagement. The Company has an option agreement with Esperanza Resources Corp. to acquire a 100% interest in the Biricu Project mineral exploration concession located in Guerrero State, Mexico. The Biricu Project comprises more than 41,000 hectares of highly prospectable ground and management believes that the Biricu Project is the direct on-strike extension of five skarn deposits in the Guerrero Gold Belt (El Limon-Los Guajes - Torex Gold Resources Inc.; Bermejal, Los Filos, and Nukay - Goldcorp Inc.; Ana Paula - Newstrike Capital Inc.).
Forward-Looking Statement
Some statements in this report contain forward-looking information. These statements include, but are not limited to, statements with respect to future exploration, expenditures, transactions and financings. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, risks related to actual results of exploration activities, the timing and amount of expenditures and the completion of transactions and financings.
ON BEHALF OF THE BOARD OF DIRECTORS CITATION RESOURCES INC.
Nigel Kirkwood
CFO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact
Citation Resources Inc.
Nigel Kirkwood, CFO
604-682-6784
info@citationresources.com
www.citationresources.com