Diamond Frank Exploration Inc. in the Heart of Quebec's Gold Projects
12.08.2010 | Marketwire
Laval, Aug. 12, 2010 - Diamond Frank Exploration Inc. (TSX VENTURE: DOD) announces that it has concluded an agreement to acquire a 100% interest in the Gold Peak property. The property consists of 50 mining claims, covers 2184 hectares and is located in one of the most world-renowned regions for gold potential.The Gold Peak property is in a great geological position in proximity to the Porcupine Destor Fault (80 million ounces of gold) and the Cadillac Fault (180 millions ounces of gold) which has produced about 260 million ounces of gold to date. Furthermore, it is based in the heart of Abitibi's mining projects such as; Joanna Project from Aurizon Mines, Westwood from Iamgold, Fayolle from Typhon, Beattie from Clifton-Star-Osisko, Goldex-Laronde and Lapa from Agnico Eagle and Canadian Malartic from Osisko, just to name a few. (See map: http://media3.marketwire.com/docs/dodmap_0812.pdf)
David Mc Donald President and CEO declared: “This acquisition is a great opportunity for Diamond Frank to consolidate its strategical position with the Destorbelle and Gold Peak projects in one of the most prolific world-class regions for gold.“
Following the terms of this agreement Diamond Frank Exploration Inc has committed to the following terms:
- Disburse a payment of C$20,000 to acquire 100% interest;
- Issue 300 000 shares of its share capital;
* This agreement is subject to the approval of the regulatory authorities.
About Diamond Frank:
Diamond Frank targets Quebec's excellent mineral potential and favourable investment climate for the development of new world-class gold deposits. Diamond Frank is proud to count on its 2,625 investors which contribute greatly to the success of the company and to the fact that it carries no debt.
Robert Gagnon (Geo.), Technical Advisor, a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the information in this news release.
The common shares of Diamond Frank Exploration are listed on the TSX Venture Exchange under the symbol “DOD“.
Statements in this release that are not historical facts are “forward-looking statements“ within the meaning of the US. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results may vary materially from those in these “forward-looking statements“. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
For more information, please contact
Diamond Frank Exploration Inc.
David Mc Donald, President and CEO
450-622-4066 or Toll free: 1-877-622-4004
450-622-4337 (FAX)
info@diamondfrank.com
www.diamondfrank.com