Tawsho Mining Inc. Exploration Update
TORONTO, ONTARIO--(Marketwired - Jul 16, 2014) - Tawsho Mining Inc. (TSX VENTURE:TAW) ("Tawsho" or the "Corporation") announces the termination of the Cabot Graphite Property Option Agreement, which was entered into in March 2012.
Tawsho has terminated its Option Agreement with Weyburn Investments Ltd. and PNL Ventures Ltd. on the Cabot Graphite Property located near Baie Verte, Newfoundland. In accordance with the terms of the Option Agreement the mineral claims have been left in good standing for a minimum period of 180 days and a copy of the recent assessment report, accepted for filing by the Newfoundland Department of Natural Resources, has been provided in digital format to a representative of the optionors of the property.
Commenting on the decision to return its interest in the property, President and CEO Stephen Balch stated that "preliminary metallurgical work on the graphite indicated that the material would have to be ground into a smaller flake size distribution than we had hoped for in order to produce a marketable grade. This would result in a lower value per tonne of concentrate compared to other graphite projects. Given the high number of graphite projects currently under development we decided to return Tawsho's interest in the property to the optionors. Tawsho will instead focus on its Chevrier gold project in Quebec, Canada."
Stephen Balch (P.Geo.), President and CEO of Tawsho Mining Inc., is a Qualified Person under the definition of National Instrument 43-101 Standards of Disclosure for Mineral Projects and has reviewed and approved the technical content in this press release.
ABOUT TAWSHO MINING INC.
Tawsho is a mining exploration company focused on the acquisition, exploration and development of gold resources and advanced stage gold exploration Properties. The Corporation is presently developing its Chevrier Gold Property (comprised of 557 claims, covering an area of 9542 hectares, or 95.4 sq. km) located in the Chibougamau region of Quebec. Tawsho currently has approximately 31,543,549 common shares issued and outstanding.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as a term that is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.