Aldever Resources Inc. Receives Approval for Lac Villebon Gold Project
The Lac Villebon Gold project covers an area of approximately 855 hectares on the western shore of Lac Villebon, and the Project's mineral claims are contiguous with the southern border of Alexandria Minerals' Cadillac Break Property Group. The Project is 31 kilometres southeast of the historic Sigma and the Lamaque Mines, which are currently controlled by Integra Gold Corp. and produced ~ 9.1M oz Au*. The Lac Villebon Gold Project is also ~18km southeast of Agnico Eagle Mines Limited's Akasaba West Mine, which was acquired from Alexandria Minerals Corporation in 2014 and hosts an indicated gold resource* of approximately 200,000 oz Au. Other active companies in the immediate area include Glencore (GLNCY), 1.5km to the south, and Monarques Gold Corp. (MQR-V) and Cartier Resources Inc. (ECR-V) to the northeast. The project is easily accessible year-round by the Trans-Canada Highway and is a 40 minute drive from the city of Val-d'Or.
*These estimates of gold production and resources are sourced from publically available materials from other companies active in the Val' d'Or Mining Camp and are not located on the Lac Villebon Property. Aldever has not undertaken any independent investigation of the production/resource estimates nor has independently analyzed the publically available results.
Under the terms of the agreement, Aldever can earn 100% interest in the project by issuing 2,000,000 common shares within 5 days of TSX Venture Exchange approval and incurring $2,000,000 in qualifying exploration expenditures over a five year period. A 1% GOR (Gross Overriding Royalty) has been granted to the vendor, of which 0.5% may be purchased by Aldever for $1,000,000. All shares issued are subject to a statutory hold period of four months plus a day from the respective date of issuance, in accordance with applicable securities legislation.
The technical contents of this news release have been prepared under the supervision of Dr. Peter Born, P. Geo. Dr. Born is a Qualified Person, as that term is defined in National Instrument 43-101, and has approved this news release.
For further information, please contact:
Aldever Resources Inc.
Clive Massey, President & CEO
Phone: (604) 622-1199
Neither the 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.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.