Morgan Resources Corp. Announces Termination of Its Lucky Irish Option Agreement
12.05.2015 | Newsfile
Toronto, May 12, 2015 - Morgan Resources Corp. (TSXV: MOR) (the "Company" or "Morgan Resources") has received notice of the termination of its option agreement with GAR Limited ("GAR") on the Lucky Irish property located 35 kilometers southwest of Kirkland Lake, Ontario. Although GAR and Morgan Resources were discussing a potential amendment to its option agreement, due to the junior mining capital market conditions Morgan Resources accepted the notice from GAR and terminated its option agreement due to the non-payment of $50,000 and 300,000 common shares to GAR.About Morgan Resources
Morgan Resources, through its wholly owned subsidiary, Bathurst Resources, is a junior mining exploration company with an option on 191 claims located on 4,202 hectares on volcanic-hosted massive sulphides ("VMS") properties in Gloucester County, Northern New Brunswick, which is situated in the Bathurst Mining Camp. The Bathurst Mining Camp refers to a 70 x 60 km area of northeastern New Brunswick which is one of Canada's most prolific base metal mining districts. The geology of the area has been extensively studied primarily by means of detailed exploration data obtained from many of the 46 known VMS deposits that have been documented within the Bathurst Mining Camp. A technical report filed on SEDAR on November 25, 2013 in accordance National Instrument 43-101 with respect to the properties was prepared by Sears, Barry & Associates Limited and is available on www.sedar.com.
Neither 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.
For further information please contact:
Raniero Corsini, Chief Executive Officer
Morgan Resources Corp.
Email: rcorsini@morganresources.ca
Tel: 647 352-4905