Shares outstanding: 25,000,166
www.jiminex.com
James R. B. Parres, President & CEO of Jiminex Inc. is pleased to report that a diamond drill program will begin on the Parres property at Snow Lake, Manitoba as soon as Condor Consulting delivers the specific drill collars and the Government of Manitoba work permit is issued. Also, the Company has added claims to the Northern Eagle gold property in the Hemlo gold mining area of Ontario. Mr. Parres states that "I am satisfied that the Company is positively moving towards the diamond drilling stage on all of its mining properties: Snow Lake, Hemlo and Misehkow River. Jiminex has progressed considerably from late August of last year when the Company was listed as a TSX Venture junior resource explorer. Since going public with the Hemlo property, we have added the Pickle Lake and Snow Lake properties, constructed a geotechnical data model for Hemlo, flew VTEM state-of-the-art airborne geophysical surveys over the Pickle Lake and Snow Lake properties and raised $1.65 million to fund our planned work."
A total of 36 claim units (area of 5.8 square kilometres) were added to the northwest part of the Northern Eagle gold property, Hemlo gold mining area, Ontario. The interactive Gocad(R) computer geotechnical data model suggests the western part of the target alteration zone/barite horizon dips north at a moderate to steep angle rather than vertical as predicted by historical work. The new claims will cover any gold mineralized horizon, that may be possibly associated with the target zone, extending to the north. Currently, the model is being examined to determine the best location to begin phase one of the deep geophysical surveying program.
Mr. Parres also reports that Mr. Stephen A. Stares has resigned as a director of Jiminex Inc., but will remain as a consultant to the Company. Mr. Parres states, "The officers and directors of Jiminex thank Mr. Stares for his guidance and effort in moving the Company forward from a capital pool company to a junior resource explorer."
Jiminex Inc. was listed as a junior resource company on the TSX venture exchange in late August 2009 and is focused on gold exploration in Canada. At present, the company's main exploration activity will be on the Parres and Parres Two properties located in the well-known Snow Lake copper-zinc and gold mining camp of Manitoba where the major new Lalor Lake copper-zinc and gold deposit discovery of HudBay Minerals Inc. is actively being explored and developed. Jiminex is also present in the Hemlo gold mining camp, Ontario close to the World-Class 21 million ounce Hemlo gold deposit currently being mined by Barrick Gold Corp. The Northern Eagle gold property is considered one of the best target areas in which to locate another Hemlo-style gold deposit and Jiminex can earn a 50% interest from Beaufield Resources Inc. The Misehkow River Property located in the Pickle Lake gold region of Ontario presents an opportunity to locate iron formation hosted gold deposits over a large target area of approximately 20 kilometres. Jiminex is actively seeking to locate and acquire new high potential gold exploration properties.
Allan J. Willy, P. Eng., VP Exploration & Director of Jiminex Inc. is the qualified person responsible for the geotechnical content of this news release.
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FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in the Company's periodic reports including the annual report or in the filings made by the Company from time to time with securities regulations. The Company undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated event.
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.
SOURCE: Jiminex Inc.
Jim Parres, President & CEO, Phone: (807) 977-1679, Fax: (807) 977-1769, Email:
info@jiminex.com, Website: https://www.jiminex.com
https://research.tdwaterhouse.ca/research/public/Markets/NewsArticle/100-103c5790-1