Tumi Completes Property Acquistion
# 1305 – 1090 West Georgia Street
TSXV - TM
Vancouver, BC, V6E 3V7, Canada Tel: (604) 668-5909 Fax: (604) 683-1585 Frankfurt - TUY Email: [email protected]
Pink Sheets – TUMIF www.tumiresources.com
News Release May 29th, 2014
TUMI COMPLETES PROPERTY ACQUISTION
Vancouver, Canada – Tumi Resources Limited (the “Company”) (TSXV: TM) (OTCPK: TUMIF) (Frankfurt: TUY) Scott Emerson, President & CEO, announces that the Company has received conditional approval from the TSX Venture Exchange for the acquisition of the Ajax Gold Project. The Ajax Gold Project is located in a historic mining district on the Continental Divide between Idaho and Montana about 35 kilometers southwest of Wisdom, Montana. The property is accessible by a forestry gravel road from the Montana side of the Continental Divide. The Ajax Gold Project is currently held by five unpatented claims on the Montana side of the Divide and six unpatented claims on the Idaho side, comprising a contiguous claim block area of approximately 220 acres.
Gold was first discovered near Ajax Peak in 1874 and the Ajax Mine on the Montana side of the Divide was in production sporadically between the early 1880’s and the late 1950’s. Most production came from four crosscut adits located above Ajax Lake on the north-facing slope of Ajax Mountain. Interest in the Ajax Gold Project was again renewed in the late 1970’s and early 1980’s and a number of exploration programs were subsequently undertaken. The work included opening and rehabilitation of the adits followed by sampling and mapping of the old underground workings, including a small amount of bulk sampling. No significant mining or exploration activity has been undertaken since.
The Ajax Gold Project lies within a Pre-Cambrian package of metaquartzite with occasional layers of micaceous argillite and amphibolite. Regional uplifting has contorted and displaced the quartzite unit resulting in a strong shear zone that crosscuts the upper section of the quartzite unit. This structural event created an extensive zone of faulting and shearing traced over a minimum distance of 2,500m and provided a channel for the emplacement of the minerals found within the Ajax mineralization.
The historic Ajax Mining District is dominated by intrusive related gold mineralizations where granitic intrusions have provided the heat and fluids necessary for the transport of the metal bearing solutions. The emplacement of the domeshaped granitic intrusions in the surrounding country rocks have also been the driving force behind the deformation that have opened up the fractures and shear zones in which the mineralizations occur in the mining district (USGS Bulletin 528, Geology and ore deposits of Lemhi County, Idaho.) Several mines have previously been in production in the area which makes the Bitterroot Range a prime target for exploration in the United States
The qualified person for Tumi’s projects, Mr. Anders Hogrelius, a Member of the Australian Institute of Geoscientists, has reviewed the available historic Ajax Mine documents and has verified the contents of this news release.
Company Contact:
On behalf of the Board, Scott Emerson at (604) 668.5909 or email: [email protected]
"Scott Emerson"
Scott Emerson, President & CEO website: www.tumiresources.com
Forward Looking Statements This Company Press Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein. Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the Frankfurt Stock Exchange accepts responsibility for the adequacy or accuracy of this news release.