Adroit Resources Inc.’s JV Negotiations, Ontario Claims Extensions of Properties and Italian Permits’ Decrees/Subsidiary Closure.
News Release – January, 13th, 2014 ADROIT RESOURCES INC.’S JV NEGOTIATIONS, ONTARIO CLAIMS EXTENSIONS OF PROPERTIES AND ITALIAN PERMITS’ DECREES/SUBSIDIARY CLOSURE.
Adroit Resources Inc., Vancouver, Canada, January 13th, 2014. JV Negotiations, Ontario Claims Extensions and Italian Permit’s Withdrawal Decrees/Subsidiary Closure.
Ontario, Canada
Management is pleased to announce that negotiations have commenced with potential partners for possible JV and/or amalgamation of our Temagami/Cobalt and Shining Tree/South Timmins Mining Camp properties in Ontario. These properties cover more than 400 km2 of terrain prospective for major base and precious metal discoveries. Elsewhere along this highly prospective land package, which includes the Larder Lake Fault, IAMGOLD has recently updated its National Instrument 43-101 resource estimate on the Côté Lake gold deposit, increasing it by 274%. The Indicated Resource is currently 131 million tonnes averaging 0.84 grams of gold per tonne for 3.56 million ounces and an Inferred Mineral Resource of 165 million tonnes averaging 0.88 g/t for 4.66 million ounces of contained gold (IAMGOLD, News Release October 4th, 2012). Adroit is also continuing to expand its ground position in its primary properties in Ontario.
Dr. Mark Fedikow, Ph.D., P.Eng, P.Geo. C.P.G, a Qualified Person under the guidelines of National Instrument 43-101, has reviewed and approved the geological information contained in this news release.
Italy
Adroit management can report that it has now received a final decree on its permits in Italy. Despite a long and difficult series of negotiations with Italian government authorities during which every effort was made to find a mutually agreeable settlement and with an impossible task of raising capital in current market conditions management has surrendered its Italian project.
Mr. Johan Grandin, CEO stated, “The work done so far in Ontario is substantial and Adroit is keeping its strategic ownership intact. We are positioning ourselves with JV and/or amalgamation partners with possibilities of new discoveries. We believe that key real estate with good value is an attractive asset for the Company for any miner or explorer in the area, the upside for Adroit’s Ontario properties is enormous and it is the new focus of Adroit’s management”.
Adroit Resources Inc. is a mineral exploration company currently exploring for precious and base metals and diamonds in the Timmins South/Shining Tree/Temagami/Cobalt and Bancroft areas of Ontario, Canada. The Company has 175,997,209 shares issued and outstanding.
On behalf of the Board of Directors,
Johan Grandin
Chairman and Chief Executive Officer
Adroit Resources Inc. 510 – 1190 Melville Street, Vancouver, B.C., V6E 3W1 (604) 688-3304 [email protected] web site: www.adroitresources.ca
Blackwell (Corporate Advisor)
(416) 364-3123 [email protected]
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