Manson Creek Terminates Option on Uptown Gold Property, NWT
CALGARY, ALBERTA--(Marketwired - Dec 22, 2014) - Manson Creek Resources Ltd. (the "Company" or "Manson") (TSX VENTURE:MCK) announces the termination of its option agreement on the Uptown Gold Property located near Yellowknife, NWT.
On December 18, 2014, North Sur Resources Inc. ("North Sur"), who had acquired Manson's option to acquire the Uptown Gold Property from PanARC Resources Ltd. ("Panarc"), notified Manson and Panarc of its decision to terminate the option.
In order to continue within the framework of the Uptown option agreement, Manson Creek would have been required to make combined cash payments and exploration expenditures of approximately $450,000 by January 23, 2016. Given the current challenging financial market conditions and lack of significant exploration break through at the project in the last few years, Manson has decided to terminate its option on the Uptown Gold Property and return the project to Panarc.
On Behalf of the Board of Directors,
Jean-Pierre Jutras, President/Director
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.
Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of Manson Creek's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of Manson Creek. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause Manson Creek's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in Manson Creek's filings with the Canadian securities authorities. Accordingly, holders of Manson Creek shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. Manson Creek disclaims any responsibility to update these forward-looking statements.