|
GlobeNewswire 1844 RESOURCES INC. (TSX-V:EFF) (the "Company" or "1844") announces that it has entered into a purchase agreement (the "Agreement") to acquire a 100% undivided interest in 4 claims on its Native Copper Project and from 9248-7792 Quebec Inc. and Prospect Or Corp (each a "Vendor"). Two known showings are part of the claims acquired: Fer a Cheval - 1 and Ruisseau Cantin, 1844 has also acquired an additional 12 claims. (see Figure 1). Showing Year Report Work Results Mineralization Ruisseau Cantin 1995 GM53761 Trenching TR 95-01: 0.32% Cu and 0.8 g/t Ag/40.5 m. Including 1.3% Cu and 1.4 g/t Ag/4.0 m (channel sample length) Fine disseminated chalcocite and some bornite in the cement of a conglomerate and volcanic fragments within the conglomerate. Fer a Cheval-1 1995 GM56982 Trenching Tr.95-02: 0.63% Cu / 11.0m (channel sample length) Exposed hematized porphyritic basalt containing chalcocite, cuprite, bornite and malachite As consideration for the acquisition each Vendor will receive 200,000 common shares for a total of 400,000 common shares and a 2% net smelter returns royalty, 1% of which may be retired for a one-time payment of $500,000. About Native Copper: 1844 Resources has 100% undivided interest in 172 claims in the Southern part of the Gaspe Peninsula, to the North-West of the municipality of Chandler and Northeast of Port-Daniel. The project now extends on 98sq/km and 7 known showings are part of the property. About 1844 Resources Inc.: 1844 is an exploration company with a focus in strategic and energetic metals and underexplored regions "Gaspe, Chibougamau Quebec". With a dedicated management team, the Company's goal is to create shareholder value through the discovery of new deposits. Bernard-Olivier Martel, P. Geo, the Company's Director of Exploration, is a qualified person (as such term is defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects) and has reviewed and approved the technical disclosure contained in this news release. 1844 RESOURCES INC. (signed) "Sylvain Laberge" Sylvain Laberge President and CEO |