METALS CREEK RECEIVES TSX-V APPROVAL FOR FEAGAN LAKE GRAPHITE PROJECT OPTION AGREEMENT
METALS CREEK RECEIVES TSX-V APPROVAL FOR FEAGAN LAKE GRAPHITE PROJECT OPTION AGREEMENT.
Toronto, Ontario, 27 May 2014. Metals Creek Resources Corp. (TSXV: MEK) (“Metals Creek” or “the Company”) is pleased to announce that the TSX Venture Exchange has accepted for filing documentation relating to an Exploration Option Agreement (the "Agreement") dated May 22, 2014 between Metals Creek Resources Corp. (TSXV: MEK) (the "Optioner") and Xmet Inc.
(the "Company"). Pursuant to the Agreement, the Company may acquire a 50% interest in the Optioner's 175 mining claims (the "Property") located in Feagan Lake Township, Ontario.
The Company has the option to earn an additional 10% interest (for a total of a 60% interest) in the Property. Upon completion of earning its interest, the project shall continue as a joint venture between the Company and the Optioner.
In consideration the Company shall pay an aggregate of $20,000 plus issue up to 3,000,000 common shares and incur exploration expenditures in the amount of $885,000 within a three year period.
In order to earn the additional 10% interest, the Company must pay $100,000 plus issue 1,500,000 common shares and incur exploration expenditures of $1,000,000 in year 4.
For more information, refer to the Company's news release dated May 22, 2014.
About Metals Creek Resources Corp.
Metals Creek Resources Corp. is a well funded junior exploration company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol “MEK”. Metals Creek has earned a 50% interest in the Ogden Gold Property, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has a 8 km strike length of the prolific Porcupine-Destor Fault (P-DF) that stretches between Timmins, Ontario and Val d’Or, Quebec. The Corporation is also engaged in the identification, acquisition, exploration and development of other mineral resource properties, and presently has mining interests in Ontario, Yukon and Newfoundland and Labrador. Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under its profile at 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.
Alexander (Sandy) Stares, President and CEO
Metals Creek Resources Corp
telephone: (709)-256-6060
fax: (709)-256-6061
email: astares@metalscreek.com
MetalsCreek.com
Twitter.com/MetalsCreekRes
Facebook.com/Metals.CreekResources