Nouveau Monde Graphite Inc. press release
VATIC VENTURES CORP. ANNOUNCES ACQUISTION OF LA SILLA WEST GOLD AND SILVER PROPERTY IN MEXICO
TSXV - TSX Venture Exchange · Graphite · Canada
Apr. 6, 2011 (TheNewswire.ca) --
VANCOUVER, BC, April 6, 2011 - Vatic Ventures Corp. (TSX-V: VCV) (the "Company") is pleased to announce that it has entered into an agreement with K.J. Gold Canada Ltd. ("K.J. Gold") and its wholly owned Mexican subsidiary (the "Option Agreement"), whereby the Company has acquired the right to earn an undivided 100% interest in and to certain mineral claims located in Sinaloa, Mexico. The claims are called the La Silla West claims.
The property is located some 65 km north of Mazatlan in the State of Sinaloa and encompasses about 29,000 hectares. It is part of the Trans Mexican Volcanic Belt, which hosts numerous world class gold and silver deposits such as the San Dimas Mine of Primero Gold , 75 km to the east, and the Cienega mine of Fresnillo, 115 km to the northeast.
Multiple low sulphidation epithermal veins and stockworks of significant width and strike length have been identified within ryholite tuffs and andecite dacites. Some parts of these structures have been historically mined on a small scale as reported by KJ Gold.
Arianne Resources reported in 2010 drill results of 28.35 g/t gold and 245.78 g/t silver over 3.5 m on its El Rey property which is surrounded by the La Silla West claims.
The infrastructure of the property is excellent. A paved highway passes the property on its western border and a power line crosses the property in the western part. The Piaxtla River runs just to the north of the property.
The consideration payable by the Company under the Option Agreement include:
the non-refundable sum of $15,000 which was paid upon execution of the Option Agreement;
1,000,000 common shares of Vatic and cash of $75,000 on Closing;
1,000,000 common shares of Vatic and cash of $75,000 on or before each of the one, two, three and four year anniversaries of Closing; and
the Sellers retain a 2% net smelter royalty on commercial production from the mineral claims.
The closing of the Option Agreement (the "Closing") is subject to certain conditions, including the final acceptance of the TSX Venture Exchange and execution of a definitive option agreement.
ON BEHALF OF THE BOARD
VATIC VENTURES CORP.
"Nasim Tyab" Nasim Tyab President and Chief Executive Officer
For further information, please contact:
Nasim Tyab, President and CEO Phone: (604) 566-9399
email: nasimt@rogers.blackberry.net
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Closing. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) the inability to close the Option Agreement or agree on a definitive agreement, and (2) the inability to obtain exchange approval of the transaction. In addition, commercial discoveries on properties nearby are not necessarily an indication of commercial mineral resources being on property we can option. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks and Uncertainties" section in the Company's MD&A filed with Canadian security regulators.
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.
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