🕐22.06.10 - 12:59 Uhr
Northern Tiger Resources Options Yukon Gold Property at Livingstone Creek
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Re: News Release - Tuesday, June 22, 2010
Northern Tiger Resources Options Yukon Gold Property at
Livingstone Creek
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June 22, 2010: Northern Tiger Resources Inc.
(NTR: TSX-V) is pleased
to announce that it has signed an Option Agreement to acquire the DEET
Property, located eighty-five kilometres northeast of Whitehorse,
Yukon, Canada.
The DEET Property is in the centre of the Livingstone Creek placer gold
camp, which has produced more than 14,000 ounces of placer gold since
1905.
The lode source for the placer gold is unknown.
Two historic samples of mineralized quartz float from the property
returned 303 g/t gold, 8.24 g/t silver, and 23.4% antimony and 66.5 g/t
gold, 2,756.5 g/t silver, 30.4% arsenic and 6.3% lead (Yukon Minfile).
The DEET property is underlain marble, graphitic phyllite and schist of
Upper Devonian Age or older, and is intruded by Early Mississippian
tonalite gneiss.
"We are very pleased to add the DEET Property to our growing stable of
high-quality Yukon projects," says Greg Hayes, President of Northern
Tiger Resources.
"We continue to believe that the Yukon is gaining
momentum as one of the premier exploration districts in the world, and
the DEET Propertys location in one of the Yukons well known placer
mining districts make it an attractive prospect."
A reconnaissance surface exploration program including mapping,
prospecting and sampling is planned for the property during the 2010
exploration season.
The Option Agreement, which is subject to TSX Venture Exchange
approval, provides Northern Tiger with an option to earn a 100%
interest in the property.
To complete the option, Northern Tiger will
be required to make cash payments of $60,000 (staged over two years),
and issue 250,000 shares ( upon receipt of TSX Venture Exchange
approval and on the first anniversary).
All shares issued shall be
subject to resale restrictions prescribed by applicable securities laws
and the policies of the TSX Venture Exchange.
The Vendor will retain a
2% net smelter return interest (NSR) on the property.
One-half of the
NSR can be purchased by Northern Tiger for $1,000,000.
Northern Tiger Resources Inc.
is a Canadian-based resource exploration
company focused on gold and copper exploration in the Yukon.
Through
its Dawson Range exploration alliance with Capstone Mining Corp.s
wholly owned subsidiary, Minto Explorations Ltd., Northern Tiger
benefits from a wide range of experience, knowledge and capabilities
from early exploration to mine production.
For further information please contact: Greg Hayes, President and CEO
().
This news release may contain forward looking statements, being
statements which are not historical facts, including, without
limitation, statements regarding potential mineralization, exploration
results, resource or reserve estimates, anticipated production or
results, sales, revenues, costs, "best-efforts" financings or
discussions of future plans and objectives.
There can be no assurance
that such statements will prove accurate.
Such statements are
necessarily based upon a number of estimates and assumptions that are
subject to numerous risks and uncertainties that could cause actual
results and future events to differ materially from those anticipated
or projected.
Important factors that could cause actual results to
differ materially from the Companys expectations are in Company
documents filed from time to time with the TSX Venture Exchange and
provincial securities regulators, most of which are available at
www.sedar.com.
The Company disclaims any intention or obligation to
revise or update such statements.
Neither 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 release
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Copyright (c) 2010 NORTHERN TIGER RESOURCES (NTR) All rights reserved.
For more information visit our website at
http://www.northern-tiger.com/ or send mailto:
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