NioGold Mining Retains 100% of the Marban Block Property
28 Agosto 2013 - 2:01PM
Access Wire
August 28, 2013 - Langley, BC --
NioGold Mining Corporation (TSX-V: NOX) (OTCQX: NOXGF) ("NioGold")
is pleased to announce that it has retained its 100% interest in
the Marban Block property following notice that Aurizon Mines Ltd.
will not proceed with the third-year funding of the option
agreement between NioGold and Aurizon.
The option agreement with Niogold
would have required Aurizon to fund a further exploration budget of
$8,400,000, followed by a resource payment based on the determined
number of gold ounces discovered on the property, in order to
complete Aurizon's earn in of a 50% interest.
"We are extremely pleased to again
have full control and ownership of the Marban property, Niogold's
President and CEO Mike Iverson stated. "Aurizon had previously
incurred a total of $11,600,000 of exploration expenditures under
the option agreement, which has grown the estimated measured and
indicated gold resources by 255% to 1.53 million oz (32.1 million tonnes at
1.48 g/t) and the inferred gold resources by 165% to 599,000 oz (16.5 million tonnes at 1.13
g/t)."
"Preliminary metallurgical testing
on the Marban deposit was very encouraging. We believe the project
has good potential to deliver attractive economics and significant
gold production from a combination of open pit and underground
development," continued Mr. Iverson. "The Marban Block Property is
centrally located in the active Malartic/Val-d'Or gold camps, which
has established infrastructure, suppliers and personnel. We look
forward to continuing development of the Marban Block Property,
targeting the Marban, Norlartic and Kierens deposits, testing new
prospective targets, and advancing the economic studies."
NioGold Mining Corporation - << On Canada's Golden Highway
>>
NioGold Mining Corporation is a
mineral exploration company focused on gold. The Company's flagship
projects are located in the Cadillac - Malartic - Val-d'Or region
of the prolific Abitibi gold mining district, Quebec. The Cadillac,
Malartic and Val-d'Or mining camps have produced over 45 million
ounces of gold since the 1930's and presently encompasses six
producing gold mines including Osisko Mining's new Canadian
Malartic operations. NioGold's land holdings within the Abitibi
presently cover 130km2 and encompass four
former gold producers, namely the Norlartic, Kierens (First
Canadian),Marban and Malartic Hygrade mines that collectively
produced 640,000 ounces of gold.
NioGold's experienced and qualified
technical team are overseeing the advancement of these projects,
targeting expansion of the current resource base.
For further information regarding
the current resource estimate on the Marban Block Property, please
see NioGold's news release dated July 3, 2013. A technical report
on the Marban Block Property, entitled "Updated Mineral Resource
Technical Report, Marban Block Project, Quebec, Canada" dated
August 15, 2013, is available on SEDAR at www.sedar.com under
NioGold's profile. For more information on the preliminary
metallurgical testing, please see NioGold's news release dated
April 24, 2012.
NioGold invites you to visit the
company website at www.niogold.com.
For information on NioGold Mining
Corporation contact:
Michael A. Iverson,
President& CEO
miverson@niogold.com
Tel: (604) 856-9887
Dale Paruk, Vice-President
dparuk@niogold.com
Tel: (604)
662-4505
Toll-free: (877)
642-6200
Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this news
release.
FORWARD-LOOKING STATEMENTS
This news release includes
"forward looking statements", as that term is defined in Section
27A of the Unites States Securities Act of 1933, as amended, and
Section 21E of the United States Exchange Act of 1934, as amended,
that are subject to assumptions, risks and uncertainties.
Statements in this news release which are not purely historical are
forward looking statements, including without limitation any
statements concerning the Company's intentions, plans, estimates,
expectations or beliefs regarding the future. Although the Company
believes that any forward looking statements in this news release
are reasonable, there can be no assurance that any such forward
looking statements will prove to be accurate. The Company cautions
readers that all forward looking statements, including without
limitation those relating to the Company's future operations and
business prospects, are based on
assumptions none of which can be assured, and
are subject to
certain risks and uncertainties that could cause actual events or
results to differ materially from those indicated in the forward
looking statements. Readers are advised to rely on their own
evaluation of such risks and uncertainties and should not place
undue reliance on forward looking statements.
Any forward looking
statements are made as of the date of this news release, and the
Company assumes no obligation to update the forward looking
statements, or to update the reasons why actual events or results
could or do differ from those projected in the forward looking
statements. Except as required by law, the Company assumes no
obligation to update any forward looking statements, whether as a
result of new information, future events or otherwise.
CAUTIONARY NOTE
TO U.S. INVESTORS
The
United States Securities and Exchange Commission (the "SEC")
permits U.S. mining companies, in their filings with the SEC, to
disclose only those mineral deposits that a company can
economically and legally extract or produce. We may use certain
terms in this news release, such as 'measured resources',
'indicated resources' and 'inferred resources', which the SEC
guidelines strictly prohibit U.S. registered companies from
including in their filings with the SEC. The news release may
contain information about adjacent properties on which we have no
right to explore or mine. U.S. investors are cautioned that mineral
deposits on adjacent properties may not be indicative of mineral
deposits on our properties.
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