Aldever Recieves Approval for Patterson North East Project (PNE)
03.09.2015 | The Newswire
Vancouver B,C. / TheNewswire / September 3 , 2015 - Aldever Resources Inc. (ALD – TSX.V, ALDVF – OTCQB, Frankfurt: 17G1) (“Aldever” or the "Company”) is pleased to announce that on September 1, 2015, the TSX Venture Exchange accepted for filing an option agreement with an arm’s length vendor, by which the Company can earn 100% interest in the Patterson North East Project (the PNE Project”), located in the Patterson Lake Exploration Camp in northwest Saskatchewan.The PNE covers an area of ~7754 hectares; ~21km northwest of the Patterson Lake South Project where Fission Uranium Corp. announced a NI 43-101 resource estimate of over 105 million lbs U3O8 for their Triple R deposit (Fission press release of January 9, 2015). The PNE Project also directly adjoins Fission 3.0 Corporation’s Patterson North Project, where concentrated exploration activities have been focused. Property access is excellent, with all year road that it connects to the Big Bear Camp, ~10km to the South.
Under the terms of the agreement, Aldever can earn 100% interest in the project by issuing 3,500,000 common shares within 5 days of TSX Venture Exchange approval and making a cash payment of $100,000 in 14 months, with additional payments of $200,000 due in 24 months and 36 months. In addition, Aldever must complete $2,000,000 in exploration expenditures on the PNE Project within 6 years. A 1% GOR payable to the vendor, of which ½% may be purchased at any time by paying $1,000,000, less all; amounts previously received by the vendor as GOR payments.
The technical contents of this news release have been prepared under the supervision of Dr. Peter Born, P. Geo. Dr. Born is a Qualified Person, as that term is defined in National Instrument 43-101, and has approved this news release.
The Company is also pleased to announce that effective September 1, 2015; the Company completed its symbol change on the OTCQB and began trading under the new symbol “ALDVF”.
For further information, please contact:
Aldever Resources Inc.
Clive Massey, President & CEO
Phone: (604) 622-1199
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. Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward‐looking statements”. Forward‐looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward‐looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward‐looking statements.
Copyright (c) 2015 TheNewswire - All rights reserved.