Hi Ho Silver Resources Inc. HHSRF

RE:NEWS

[jetstream]

Hi Ho acquires land block in Labrador nickel belt
2015-09-15 19:52 ET - News Release
Mr. Dennis McKnight reports
HI HO SILVER CONTINUES TO EXPAND ITS LABRADOR HOLDINGS ADJACENT EQUITAS RESOURCES
Hi Ho Silver Resources Inc. has acquired an additional block of land in the Labrador nickel belt of Canada, consisting of one claim block on the eastern flank of and adjacent to the Garland project of Equitas Resources Corp. (EQT). This area lies approximately 30 kilometres south of the Voisey's Bay nickel mine.
This new set of claims is adjacent to EQT, and is approximately five kilometres east of published geophysical anomaly M of EQT and approximately 6.5 kilometres northeast of anomaly A of EQT.
The location of the new block of land described above is approximately 15 kilometres northeast of Hi Ho's 100-per-cent-owned Plugger Hill nickel occurrence (see Hi Ho press release dated April 8, 2015), which is 2.5 kilometres south of the EQT Garland project.
Recent staking activity has accelerated in the Labrador nickel belt, based renewed interest in nickel exploration in this prominent nickel production area.
In consideration for a 100-per-cent interest in the properties, with no retained net smelter royalty, the company will issue eight million common shares at a deemed price of five cents per share to 0998601 B.C. Ltd. and Marcie Kiesman, the vendors, upon the closing date of the agreement, which is anticipated to be on or before Sept. 30, 2015. The shares will be subject to a hold period expiring four months plus one day from the date of issuance.
The technical and scientific data in this news release were approved by Dr. Stewart Jackson, PGeo, a qualified person as defined by National Instrument 43-101.
About the Labrador nickel belt
Vale is mining nickel at the Voisey's Bay mine, approximately 30 kilometres northwest of the Hi Ho project area. A Newfoundland Department of Natural Resources paper by R. Kerr (2001) stated, "... Potential for further discoveries remains in the immediate Voisey's Bay area." Recognition of this potential is stimulating the current activity.