BXR Blue River Resources Ltd

Blue River Resources Ltd. (TSX VENTURE:BXR) ("Blue River" or "the Company")
announces that it has acquired a 100% interest in mining claims totaling
approximately 800 hectares, directly adjacent to Teck Resources Ltd. Highland
Valley Copper Mine property. 


Highland Valley Copper is Canada's largest base metal mine, producing 335,000
tons of copper concentrate and 3,500 of molybdenum concentrate per year. Teck
Resources Ltd. recently announced a $475 million mill modernization program at
the Highland Valley Mine and has extended the expected mine life to 2025. 


Griffin Jones, President of Blue River Resources, states, "This acquisition
expands Blue River's property holdings to another proven copper mining area in
British Columbia. The Highland Property is located close to all required mining
infrastructure and the property is readily accessible. We are currently
formulating exploration plans for the Highland property in 2012, in addition to
drilling the Company's Castle Copper Project this year."   


Under the terms of the agreement, Blue River has agreed to issue 200,000 shares
to the vendor upon approval by the TSX Venture Exchange and 100,000 shares every
six months for a total of 500,000 shares. On closing, Blue River has also agreed
to grant the vendor a 3% net smelter royalty, of which 2% can be purchased back
by Blue River for $2.0 million. The closing of the acquisition is subject to
certain conditions, including approval from the TSX Venture Exchange. Shares
issued to the vendor will include a four month hold period as required in
accordance with applicable securities laws. 


Blue River Resources Ltd. holds a 100% interest in the Castle Copper Project,
located 20 km north of Copper Mountain Mining and 3 km north of Sego Resources'
Miner Mountain property.  


ON BEHALF OF THE BOARD BLUE RIVER RESOURCES LTD. 

Griffin Jones, President, Director

Grafico Azioni Blue River Resources (TSXV:BXR)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni Blue River Resources (TSXV:BXR)
Storico
Da Giu 2023 a Giu 2024