Auracle Resources Ltd.: Commonwealth Silver Transaction Terminated
12.12.2012 | CNW
VANCOUVER, Dec. 12, 2012 - Auracle Resources Limited announces that, at its election, Commonwealth Silver has elected to terminate discussions for a proposed business combination as detailed in a binding letter of intent and announced on October 12, 2012. Each party is responsible for its own costs related to the transaction and there is no break fee payable under the terms of the Letter of Intent.About Auracle Resources Ltd.
Auracle Resources is an exploration company focused on developing precious metal assets. Auracle has an option to earn a 100% interest in the Mexican Hat project, located in Cochise County, Arizona, USA. The Mexican Hat property was initially explored by Placer Dome in the late 1980's to early 1990's and during this exploration period Placer Dome identified an historical resource. Auracle continues to develop its strategy to realize the full mineral potential of the property.
On behalf of the Board of Directors,
Robin Forshaw
CEO, Director
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This News Release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects and other plans, intentions, expectations, estimates, and beliefs of the Company, information and statements which are not purely historical fact are forward-looking statements. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein, or to update the reasons that actual events or results could or do differ from those projected in any forward-looking information and statements herein, whether as a result of new information, future events or results, or otherwise.
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Contact:
Auracle Resources Ltd.
(604) 682-3131
info@auracleresources.com