Pasinex Resources Amends Agreement with Eurasia Minerals on Royalty Agreement for Golcuk Cu Property, Turkey
TORONTO, ONTARIO--(Marketwired - Dec 6, 2016) - Pasinex Resources Ltd. (CSE:PSE)(CSE:PSE.CN)(CNSX:PSE)(FRANKFURT:PNX) (the "Company" or "Pasinex") today announced that it has agreed with Eurasian Minerals Inc. and their Turkish subsidiary Eurasia Madencilik Ltd Sti to amend their royalty agreement for the Golcuk Cu property in Sivas province, Turkey (called the "Transfer and Royalty Agreement"). This amendment covers two items which are:
| (a) | To provide that the Company pays their first minimum advance royalty payment to Eurasian in 664,483 common shares of the Company to be issued immediately and, |
| (b) | To extend the completion date for the fourth anniversary of work obligations on the Golcuk property to June 30, 2017 subject to exploration work beginning on the property prior to 31st December 2016. |
About Golcuk
Pasinex's Golcuk Copper Project occupies a 40 square kilometre mineral claim in the Sivas Province of central north-east Turkey, a region characterized by later Palaeozoic-intrusives and porphyry-associated mineralization.
About Pasinex
Pasinex Resources Ltd. (CSE:PSE)(FRANKFURT:PNX) is a base and precious metal-focused exploration company and zinc producer. The Company's priority is to build a strong portfolio of base metal opportunities in Turkey through its 50:50 joint venture with Akmetal on three zinc-lead-silver-copper projects. Its portfolio also includes 100% ownership in the Golcuk Property. The Company has a strong technical management team backed by several decades of experience in mineral exploration and mining project development around the world.
On Behalf of the Board of Directors, PASINEX RESOURCES LIMITED
Steve Williams
The CSE does not accept responsibility for the adequacy or accuracy of this news release.
This news release includes forward-looking statements that are subject to risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements.
All statements within, other than statements of historical fact, are to be considered forward looking. Although Pasinex Resources Ltd. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, exploration results, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
Contact
Pasinex Resources Ltd.
Steve Williams
President/CEO
416.861.9659
info@pasinex.com
www.pasinex.com
CHF Investor Relations
Cathy Hume
416.868.1079 ext. 231
cathy@chfir.com