Colibri Announces Option Agreement for Internal Claims at the Ramard Project
21.12.2012 | CNW
VANCOUVER, Dec. 21, 2012 /CNW/ - Colibri Resource Corporation ("Colibri" or the "Company") (TSX.V-CBI) is pleased to announce that it has entered into an option agreement dated December 20, 2012 (the "Agreement") for the acquisition of two additional mining claims (the "Claims") located within the Company's Ramard concessions in Sonora, Mexico. The two claims are called "Picacho" and "El Dorado", and are 60 and 64 hectares in size, respectively. The location of these two claims can be seen at www.colibriresource.com/projects/ramard.Pursuant to the Agreement, the Company has been granted the exclusive option to acquire a 100% right, title and interest in the Claims. To exercise the option on each of the Claims, the Company must make cash payments in the aggregate amount of US$161,000 and issue a total of 80,000 of its common shares to the optionor, all over a four year period. The Company may also choose to exercise the option on only one of the Claims for a total cash payment of US$80,500 and the issuance of 40,000 common shares.
The Option Agreement remains subject to TSX Venture Exchange acceptance.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein.
Disclosure Regarding Forward-Looking Statements: This press release contains certain "Forward-Looking Statements" within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Corporation's expectations are disclosed in the Corporation's documents filed from time to time with the TSX Venture Exchange and, among others, the British Columbia Securities Commission as well as under the heading "Risk Factors" in the Company's annual and interim Management Discussion and Analysis.
For further information:
Colibri Resource Corporation
Lance Geselbracht, P.E., President and Chief Executive Officer
Tel: (250) 755-7871
Website: www.colibriresourcecorp.com