OR TO U.S. NEWS AGENCIES 1 GOLDEN VALLEY MINES LTD. 152, chemin de la Mine École
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES
OR TO U.S. NEWS AGENCIES
1
GOLDEN VALLEY MINES LTD.
152, chemin de la Mine École
Val-d’Or, Québec J9P 7B6
819.824.2808 (main)
819.824.3379 (fax)
2864 chemin Sullivan
Val-d’Or, Québec J9P 0B9
819.824.2808 (main)
819.824.3379 (fax)
Golden Valley Mines and Uranium Valley Mines Announce Termination of
Option Agreement and Concurrent Non-Brokered Private Placement
Val-d’Or, Québec – February 17, 2017 – Golden Valley Mines Ltd. ( “Golden Valley”)
(TSX-V:GZZ) and Uranium Valley Mines Ltd. (“Uranium Valley”) (TSX -V:VZZ.H) regret
to announce that they have terminated the Mining Option Agreement as more particularly
described in the joint news release of December 14, 2016.
In addition, Uranium Valley is not closing the concurrent non- brokered private placement for
gross proceeds of $718,000.
The option agreement and concurrent financing were terminated as Uranium Valley was not able
to obtain minority shareholder approval as required by Multilateral Instrument 61-101 and TSX
Venture Exchange policies and which was a condition to completion of the transactions.
Uranium Valley will continue exploration on its Porcupine Miracle Prospect near Timmins,
Ontario and will also look at other mining exploration opportunities to maximize shareholder
value.
Golden Valley is currently looking at other potential transactions regarding its grassroots
properties and will continue to work with its financial advisor, Maxit Capital to consider
strategic alternatives.
For additional information please contact:
Glenn J. Mullan
Chairman, President, and CEO
Golden Valley Mines Ltd.
152, chemin de la Mine École
Val-d’Or, Québec J9P 7B6
Telephone: +1.819.824.2808 ext. 204
Email: [email protected]
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES
OR TO U.S. NEWS AGENCIES
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Forward Looking Statements:
This news release contains certain statements that may be deemed “forward -looking statements. Forward looking
statements are statements that are not historical facts and are generally, but not always, identified by the words
“expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions,
or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Golden Valley and
Uranium Valley believe the expectations expressed in such forward -looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results or realities may differ
materially from those in forward lookin g statements. Forward looking statements are based on the beliefs, estimates
and opinions of management on the date the statements are made. Except as required by law, Golden Valley and
Uranium Valley undertake no obligation to update these forward -looking statements in the event that respective
management’s beliefs, estimates or opinions, or other factors, should change.
Neither the 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 news release.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR
DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND
DOES NOT CONSTITUTE AN OFFE R TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY
OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE
NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF
1933, AS AMENDED, OR ANY STATE SECURITIES LAW S, AND MAY NOT BE OFFERED OR SOLD
IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.