OR TO U.S. NEWS AGENCIES URANIUM VALLEY MINES LTD. 2864 chemin Sullivan
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES
OR TO U.S. NEWS AGENCIES
URANIUM VALLEY MINES LTD.
2864 chemin Sullivan
Val-d’Or, Québec J9P 0B9
819.824.2808 (main)
819.824.3379 (fax)
Uranium Valley Mines Acquires 100% of Porcupine Miracle Prospect
& Grants Stock Options
Val-d’Or, Québec – July 10, 2017 – Uranium Valley Mines Ltd. (TSX-V:VZZ.H) (the
“Company”) is pleased to announce that it has ac quired a 100% interest in four mining claims
located in Langmuir Township, Ontario, known as the Porcupine Miracle Prospect (the
“Property”), on exercise of the option gran ted to the Company by 2973090 Canada Inc. (the
“Optionor”) in accordance with the terms of the mining option agreement between the Company
and the Optionor, as previously announced by news release dated July 9, 2014.
As consideration for the option and in accordan ce with the terms of the option agreement, the
Company has issued to the Optionor an aggr egate 200,000 common shares of the Company and
has incurred exploration expenditures of as least $50,000 (which ground fieldwork is discussed
in the Company’s news release of June 20, 2017), and has maintained the Property in good
standing during the term of the option.
The final tranche of 66,667 payment shares to be issued to the Op tionor in order to exercise the
option will be subject to a ho ld period until November 14, 2017, in accordance with applicable
securities legislation and the policies of the TSX Venture Exchange.
The Property is subject to a royalty in favour of the Optionor equal to 3% of net sme lter returns.
Advance royalty payments of $10,000 per annum are payable by the Company commencing on
the third anniversary of the Approval Date; the advance royalty payments will be deducted from
the amounts payable under the royalty.
The Optionor is a Canadian corporation of which Glenn J. Mullan is a shar eholder, director and
officer. As Mr. Mullan is also a director and the President and CEO of the Company, related
party considerations pursuant to TSX Venture Exchange Policy 5.9 and Multilateral Instrument
61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) apply.
The Company has relied on Section 5.5(a) of MI 61-101 for an exemption from the formal
valuation requirement and Secti on 5.7(1)(a) of MI 61-101 for an exemption from the minority
shareholder approval requirement of MI 61-101 as neither the fair market value of the subject
matter, nor the fair market value of the cons ideration for, the transaction insofar as the
transaction involved interested parties exceeded 25% of the Company’s market capitalization.
The Company also announces that it has granted incentive stock options to directors, officers and
consultants of the Company, which entitle the purchase of an aggregate 1,915,000 common
shares in the capital of the Company at a per sh are price of $0.05 for a peri od of 10 years. Any
common shares issued on exercise of these options will be subject to a hold period until
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November 11, 2017, pursuant to the policies of the TSX Venture Exchange and applicable
securities legislation.
For additional information, please contact:
Glenn J. Mullan
President
2864 chemin Sullivan
Val-d’Or, Québec J9P 0B9 Tel.: 819-824-2808, x 204
Email: [email protected]
Forward Looking Statements:
This news release contains certain statements that may be deemed “forward-looking statements.
Forward looking statements are st atements that are not historical facts and are generally, but not
always, identified by the words “expects”, “pla ns”, “anticipates”, “believes”, “intends”,
“estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”,
“would”, “may”, “could” or “should” occur. Although the Company believes the expectations
expressed in such forward-looking statemen ts are based on reasonable assumptions, such
statements are not guarantees of future performa nce and actual results or realities may differ
materially from those in forward looking statemen ts. Forward looking statements are based on
the beliefs, estimates and opinions of the Compa ny’s management on the date the statements are
made. Except as required by law, the Compa ny undertakes no obligation to update these
forward-looking statements in the event that ma nagement’s beliefs, estimates or opinions, or
other factors, should change.
Neither TSX Venture Exchange nor its Regulation Serv ices Provider (as that term is defined in
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 SE RVICES OR FOR DISSEMINATION IN THE
UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A
SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES DESCRIBED
HEREIN IN THE UNITED STATES. TH ESE SECURITIES HAVE NOT BEEN, AND
WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF
1933, AS AMENDED, OR AN Y STATE SECURITIES LAWS, AND MAY NOT BE
OFFERED OR SOLD IN THE UNITED STAT ES OR TO U.S. PERSONS UNLESS
REGISTERED OR EXEMPT THEREFROM.