Vior Inc.: Signing of an Agreement With Northern Abitibi Mining Corporation
QUEBEC CITY, CANADA -- (Marketwire) -- 02/22/11 -- SOCIETE D'EXPLORATION MINIERE VIOR INC. (TSX VENTURE: VIO)(FRANKFURT: VL5) - is pleased to announce the signing of an agreement with Northern Abitibi Mining Corporation ('Northern Abitibi').
Pursuant to this agreement, Vior will acquire Northern Abitibi's 50% participating interest in the NW/JV property. This property is comprised of 80 claims and is adjacent to the Douay property, owned by Vior, and where Aurvista Gold Corporation has the option to earn up to a 100% participating interest. Northern Abitibi will receive in compensation $75,000 in cash, 750,000 shares of Vior's share capital, and a 1.5% net smelter royalty (NSR), half of which (0,75%) can be bought back at any time for $1 million.
Vior already holds a 25% participating interest in the NW/JV property, and the other 25% is held by SOQUEM.
The agreement is subject to the approval of regulatory authorities.
About Northern Abitibi
Northern Abitibi is an exploration company focused on developing its properties, most notably its Viking Gold property in Labrador.
About Vior
Vior is a mining exploration company focused on developing its properties. The company owns 75% of the Douay property as well as other quality exploration projects.
The TSX Venture Exchange (TSX Venture) does not accept responsibility for the adequacy or accuracy of this Press Release.
Contacts:
Vior Inc.
Claude St-Jacques
President
418-692-2678
cstjacques@vior.ca
www.vior.ca
Vior Inc.
Marc L'Heureux
Vice-president Exploration
418-692-2678
mlheureux@vior.ca
SEDAR : Societe d'exploration miniere Vior inc.