Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or the accuracy of this release. EVERETT RESOURCES LTD.
710 - 890 W. Pender St - Vancouver, BC - V6C 1J9 Tel: 604.669.2151 / Fax: 604.669.2136 Website: www.everettresources.com
EAR-NR-2-10
June 9, 2010 TSX-V: EAR
EVERETT OPTIONS ABITIBI GREENSTONE BELT PROPERTY
Vancouver, B.C. - (June 9, 2010 - TSX-V: EAR) Everett Resources Ltd. (“Everett”) is pleased to announce that it has entered into an agreement with Steve Anderson of Timmins, Ontario (the "Vendor") dated June 1, 2010 whereby the Vendor has granted Everett an option (the "Option") to acquire an 100% interest in 37 mineral claims comprising approximately 2,150 hectares situated within the Abitibi Greenstone Belt between the towns of Val D'Or and Chibouganau, Quebec (the "Property").
The Property is located approximately 20 kilometres southwest of Eagle Hill Exploration's Windfall Property, also situated on the Abitibi Greenstone Belt, on which over 330 diamond drill holes have been completed and from which there have been reported gold values of 52.3 ounce per ton over 4.8 metres, 14.2 grams per tonne over 52 metres and 19.6 grams per tonne over 33 metres. The structure on which the Windfall Property is located extends for over 300 kilometres and hosts numerous reported gold occurrences.
Regional airborne magnetic surveys suggest that the Windfall Property and the Property optioned by Everett occur along the same geological structure. In addition, the data suggests the presence of a large fold and cross-structure occurring on the optioned Property. There has been little previous exploration on the Property and Everett is interested in examining this structure for possible gold deposition. As a start, Everett plans to carry out a program of line cutting and gridding to be followed by magnetometer and Induced Polarization surveys over the Property.
Pursuant to the terms of the Option agreement, to maintain the Option in good standing, Everett must make cash payments to the Vendor totaling $12,500, issue to the Vendor 3,000,000 common shares in Everett's capital over two years (the issuance of 2,000,000 of the shares is a binding obligation and not optional) and complete $500,000 in exploration expenditures on the Property over two years. A finder's fee in cash and/or securities may be payable with respect to this acquisition.
The acquisition is subject to acceptance for filing by the TSX Venture Exchange.
EVERETT RESOURCES LTD.
Per: "Michael Waggett"
Michael Waggett, President
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or the accuracy of this release.