Vancouver, British Columbia (FSCwire) - Alliance Mining Corp. (TSX-v: ALM) (“Alliance” or the “Company”) announces it has agreed to purchase the Net Smelter Rights (“NSR”) on the following claim blocks which are part of the Company’s Red Rice Lake gold property in the Bissett Gold Camp: The Christine Fraction, Christine 2 Fraction, Christine 3 Fraction, Lynx 28 and Lynx 29 claims. The Company agrees to pay the Seller $10,000.00(CDN) in stock of its common shares (based on 5 cents/share CDN).
Alliance is actively seeking to expand its presence in the Bissett Gold camp through future property acquisitions and/or potential joint venture exploration partnerships with neighbouring companies. At present Alliance is actively working with its Manitoba based geological team to prepare for its upcoming exploration program.
Alliance Mining has an option to acquire 100 per cent of the Red Rice Lake property located in the centre of the Bissett gold camp in Manitoba. The property is located close to the town of Bissett, Man., and just four kilometres south from Klondex Mines' producing True North gold mine.
The Red Rice Lake property claims are located within the Archean Rice Lake greenstone belt in southeastern Manitoba. This belt forms part of the Uchi subprovince that includes the Red Lake and Pickle Crow belts in Northwestern Ontario.
Mr. Al Beaton P.Eng is a Qualified Person as defined by NI 43-101. Mr. Beaton has approved the technical content contained in this press release.
ON BEHALF OF THE BOARD
Al Beaton P.Eng
Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Alliance Mining Corp.
(604) 488-3900
Investor Relations:
Antony Claydon: 604-445-5421
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company 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 exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
