[Marinir] {Disarmed} Beatrix (TSX-V: BXV) Acquires Five Graphite Occurrences in Ontario
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Tue May 22 21:29:39 CEST 2012
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Beatrix Acquires Five Graphite Occurrences in Ontario
Beatrix Ventures Inc. (TSX Venture Exchange: BXV
http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=BXV®ion=C&lookup=symbol&snapshot=default
) has entered into an option agreement with an arm's-length exploration
and development company pursuant to which Beatrix has been granted an
option to acquire a 100-per-cent interest in a portfolio of properties
in Ontario containing 5 separate graphite occurrences. Each graphite
occurrence has been located through government mapping, and several of
the occurrences exhibit significant electromagnetic conductor features
according to government geological and airborne survey maps. The
portfolio contains 84 units of prospective ground in Ontario (the Savant
Lake claims) (five occurrences).
The Savant Lake claim group is located within the Patricia Mining
Division, approximately 180 kilometres north of the town of Ignace. The
Savant Lake claim group encompasses five historical graphite occurrences
located by government geologists (from Ontario Geological Survey Map
2442 Geol. Comp. Series).
Beatrix will commence field visits to the occurrences immediately to
ascertain the extent of each of the graphite occurrences.
The terms of the option agreement between Beatrix and the optionor
include cumulative cash payments to the optionor over four years
totalling $80,000 and the issuance of 150,000 common shares of Beatrix
to the optionor over a four-year period. If Beatrix exercises its option
to acquire the properties and begins commercial production on any part
of the properties, Beatrix shall pay to the optionor a royalty of 2 per
cent of the net smelter returns provided, however, that Beatrix shall
have the right at any time to purchase from the optionor one-half of the
2-per-cent smelter returns production royalty in consideration for a
one-time payment of the sum of $1-million. This transaction is subject
to TSX Venture Exchange approval.
The Company's geologist will immediately review all technical data
available and propose an exploration program to evaluate the potential
of these graphite claims.
Mike Taylor, P.Geo., a director of Beatrix, is the qualified person
responsible for the technical information contained herein as well as
the design of technical programs for the properties.
On behalf of:
Beatrix Ventures Inc.
For further information, please contact:
Eugene Beukman
President
604.687.2038 or visit our website at www.beatrixventures.com
http://www.beatrixventures.com
This release includes certain statements that may be deemed to be
"forward-looking statements" within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995. All statements in this
release, other than statements of historical facts, that address future
production, reserve potential, exploration and development activities
and events or developments that the Company expects, are forward looking
statements. Although management believes 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 developments may differ materially from those in the
forward-looking statements. Factors that could cause actual results to
differ materially from those in forward-looking statements include
market prices, exploration and development successes, continued
availability of capital and financing, and general economic, market or
business conditions. Please see our public filings at www.sedar.com
http://www.sedar.com
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 release.
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