Morien Resources Corp. ("Morien" or the "Company") (TSX VENTURE:MOX), is pleased
to announce it has received an initial royalty payment from Banks Island Gold
Ltd. ("Banks Island") arising from the Company's 1.5% net smelter return ("NSR")
royalty on production from its Yellow Giant Gold project.


Banks Island is a TSX-V listed mining company focused on the development of the
Yellow Giant Gold property located on Banks Island along the North Coast of
British Columbia. Initial production is from the Bob Prospect, one of four
prospects that have established high grade gold resources.(1) The resources
developed to date only extend to 150 metres depth with all zones open at depth
and along strike. Banks Island has identified 12 additional gold showings along
a 10 kilometre trend of gold mineralization.(2) The table below displays gold
production from the Bob Prospect for the period of February 01 through June 10
of this year.(3)


Table - Gold Production from the Bob Prospect(2)



----------------------------------------------------------------------------
Period (2014)               Contained in Concentrate    Payable from Smelter
                        ----------------------------------------------------
                        Gold (oz)       Silver (oz)     Gold eq(i) (oz)     
----------------------------------------------------------------------------
February 1-28           628             2,152           589                 
----------------------------------------------------------------------------
March 1-31              2,005           5,604           1,866               
----------------------------------------------------------------------------
April 1-30              2,294           5,618           2,123               
----------------------------------------------------------------------------
May 1-31                1,681           4,704           1,507               
----------------------------------------------------------------------------
June 1-10               537             480             494                 
----------------------------------------------------------------------------
Total Sales - Bob Zone  7,145           18,559          6,579               
----------------------------------------------------------------------------
(i)Gold equivalent is calculated by converting payable silver at a ratio of 
1/65th to payable gold ounces                                               
Note: Morien's royalty is based on net smelter return, not on production    



Banks Island is targeting production for 2014 at 28,000 ounces gold
equivalent.(2) Based on that projection, the NSR calculation to date, and
assuming a US$1,200 per ounce gold price, Morien estimates the royalty that will
be generated from the 2014 production to exceed $300,000. Banks Island has a
right to reduce Morien's 1.5% royalty to 1.0% for a cash payment of $300,000.




                                                                            
(1) Banks Island NI 43-101 Technical Report, February 1, 2014; located on   
    SEDAR                                                                   
(2) Banks Island corporate presentation, January 2014; located on Banks     
    Island website                                                          
(3) Modified from Banks Island press release, July 10, 2014; located on     
    Banks Island website                                                    



Morien is a non-operating royalty and minority interest investment Company
focussed on the mining industry. The Company is focussed on unique mineral
industry opportunities in Canada with current interests in:


Donkin Coal Project: Morien holds a 25% minority interest, with a $9 million
carried interest, in one of the largest undeveloped coal deposits in North
America, located within 30 kilometres of a deep water port in Sydney, Nova
Scotia; approximately $43 million has been invested since 2006, including $15
million by Morien. The 75% owner and project manager, Glencore plc, is currently
in discussions with third parties regarding the sale of its interest, which if
brought to a successful conclusion, is expected to lead to development of the
Project. 


Black Point Aggregate Project: Vulcan Materials Company, the United State's
largest producer of construction aggregates, purchased Morien's rights to the
Black Point Aggregate Project in Q2 2014 and is currently permitting the Project
for expected production within the 2018 to 2020 period. Morien received $1
million in payments from Vulcan on the sale and will receive an additional
payment of $800,000 on the receipt of all environmental permitting necessary for
the mining of aggregate and shipping of aggregate via ocean-going vessels from
the property, anticipated in Q3 2015. Morien and Vulcan are working jointly
towards the successful completion of the Environmental Assessment process.
Morien has an industry competitive royalty for the life of mine which is
expected to continue for over 50 years.


Banks Island Gold Project: Morien holds a 1.5% NSR royalty over the marketable
metal, ores, minerals and concentrates produced and shipped from a 1,987 hectare
area within the Yellow Giant Gold property located 105 kilometres south of
Prince Rupert, British Columbia.


U.S.A. Industrial Mineral Interests: Morien holds various direct and indirect
interests in industrial mineral properties in the United States.


About Morien 

Morien Resources Corp. is a Canadian company focused on creating value through
the identification, acquisition and advancement of non-operating royalty and
minority interests in strategically located projects that host commodities with
strong market fundamentals. Its principal asset is a 25% interest in the Donkin
Coal Project in Nova Scotia. Morien has 49,256,240 issued and outstanding common
shares and a fully diluted position of 52,886,240. Further information is
available at www.morienres.com.


Forward-Looking Statements

Some of the statements in this news release may constitute "forward-looking
information" as defined under applicable securities laws. These statements
reflect Morien's current expectations of future revenues and business prospects
and opportunities and are based on information currently available to Morien.
Morien cautions that actual performance will be affected by a number of factors,
many of which are beyond its control, and that future events and results may
vary substantially from what Morien currently foresees. Factors that could cause
actual results to differ materially from those in forward-looking statements
include risks and uncertainties described in Morien's annual information form
filed with the Canadian Securities regulators on SEDAR (www.sedar.com). Morien
cautions that its royalty revenue will be based on production by third party
property owners and operators who will be responsible for determining the manner
and timing for the properties forming part of Morien's royalty portfolio. These
third party owners and operators are also subject to risk factors that could
cause actual results to differ materially from those predicted herein including:
volatility in financial markets or general economic conditions; capital
requirements and the need for additional financing; fluctuations in the rates of
exchange for the currencies of Canada and the United States; prices for
commodities including gold, coal and aggregate; unanticipated changes in
production, mineral reserves and mineral resources, metallurgical recoveries
and/or exploration results; changes in regulations and unpredictable political
or economic developments; loss of key personnel; labour disputes; and
ineffective title to mineral claims or property. There are other business risks
and hazards associated with mineral exploration, development and mining.
Although Morien believes that the forward-looking information contained herein
is based on reasonable assumptions, readers cannot be assured that actual
results will be consistent with such statements. Morien expressly disclaims any
intention or obligation to update or revise any forward-looking information in
this news release, whether as a result of new information, events or otherwise,
except in accordance with applicable securities laws.


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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
John P.A. Budreski
President and CEO
Phone: (416) 930-0914


Dawson Brisco
Manager Corporate Development
Phone: (902) 466-7255
info@morienres.com
www.morienres.com

Grafico Azioni Morien Resources (TSXV:MOX)
Storico
Da Mag 2024 a Giu 2024 Clicca qui per i Grafici di Morien Resources
Grafico Azioni Morien Resources (TSXV:MOX)
Storico
Da Giu 2023 a Giu 2024 Clicca qui per i Grafici di Morien Resources