Alliance Mining Purchases NSR
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”) held by Sutherland Minerals Ltd. (“the Seller”) on the Cupp, Axe-Fraction and Cupp Fraction claim blocks which are part of the Company’s Bissett gold camp. The Company agrees to pay the Seller $10,000.00(CDN) in stock of its common shares (based on 5 cents/share CDN).
In addition Alliance has agreed to pay Sutherland Minerals a payment of $50,000CDN for any future payments or past debts owed to Sutherland by Tiberius Gold Corp. Alliance has a 100% option on the Bissett Gold Camp from Tiberius. The $50,000CDN payment is to be made on or before March 2, 2018.
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 gold property claims are located within the Archean Rice Lake greenstone belt in southeastern Manitoba. This belt forms part of the Uchi sub province that includes the Red Lake and Pickle Crow belts in Northwestern Ontario.
ON BEHALF OF THE BOARD
FOR FURTHER INFORMATION PLEASE CONTACT:
Alliance Mining Corp.
Antony Claydon: 604-445-5421
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.
Alliance Mining Corp.
888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4
To view the associated document to this release, please click on the following link:
Source: Alliance Mining Corp. (TSX Venture:ALM)
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