More NewsAzure Resources negotiates JV on Dufferin property
Azure Resources Corp (TSX-V:AZR)
Shares Issued 31,619,895
Last Close 6/8/2005 $0.05
Thursday June 09 2005 - News Release
Mr. Adrian Rollke reports
AZURE IN NEGOTIATIONS ON NOVA SCOTIA PROPERTIES
Azure Resources Corp., pursuant to its news issued in Stockwatch on May 6, 2005, has learned that Jemma Resources Corp. was unsuccessful in finalizing its transaction with Globex Mining Enterprises Inc. to acquire the Mooseland property in Nova Scotia. Since a considerable amount of money was required to be paid to Globex to maintain the Mooseland property, Azure has released the property.
In the mean time, Jemma has been acquired by Brookmount Explorations Inc., a public company trading on the OTC Bulletin Board, which in turn has taken over the negotiations with Globex for the Mooseland acquisition. Jemma board of directors is comprised of Michael French, Thomas M. Blaiklock, Andrew von Kursell and Milo Filgas. Brookmount's board comprises Zaf Sungur, Peter Flueck, Andrew von Kursell, Vic Stilwell and Milo Filgas. As such, Mr. von Kursell has abstained from voting at board meetings and all negotiations pertaining to the Jemma transaction and possible future Brookmount transaction.
Azure is currently in negotiations with Brookmount for a joint venture on the Dufferin property. These negotiations may or may not include an interest on the Mooseland property.
Azure has been trying to bring in a joint venture partner with the financial capability to finance the continuing exploration and development costs in Nova Scotia, while at same time, trying maintaining as great an interest as possible.
© 2005 Canjex Publishing Ltd.