Sarissa Resources Announces the Acquisition of Additional Claims in Shining Tree Resources
27 Mayo 2011 - 8:30AM
Marketwired
Shining Tree Resources Corp. ("Shining Tree Resources" or "the
Company") is pleased to announce that it has acquired an additional
claim group in the Shining Tree area of Northern Ontario.
The new claim group is comprised of 5 claims of 16 claim units
each, and is situated approximately 4 kilometers south-west of the
Company's existing holdings. It is subject to a 2% NSR, of which
1/2 may be purchased by the Company for a pre-determined price.
Shining Tree Resources is a wholly-owned subsidiary of Sarissa
Resources Inc. (PINKSHEETS: SRSR) ("Sarissa"). As has been reported
in a previous release, Sarissa expects that it will accomplish a
spin-out of Shining Tree Resources to become a Canadian reporting
issuer at the time of, or as soon as possible following, the
spin-out, by declaring a dividend-in-kind of all the shares of
Shining Tree to the shareholders of Sarissa.
The initial Shining Tree Property consists of 7 contiguous claim
groups, approximately 1200 acres, in the Shining Tree gold area of
Northern Ontario. The new claim group increases the Company's land
holdings in the area by approximately 13 square kilometers.
The Shining Tree Properties lie within the southwest part of the
Abitibi greenstone belt. The Abitibi greenstone belt is prospective
for a number of mineral deposit types, including mesothermal lode
gold deposits, volcanogenic massive base metal sulphide deposits
and layered magmatic sulphide (Ni) deposits.
The Shining Tree area has been considered an under-explored area
within a highly prospective region, due primarily to a land caution
covering the area from 1973 until 1996. Previous exploration and
diamond drilling on the property by Sarissa had returned positive
results, as previously released, and Shining Tree Resources will
further test these and other targets. In preparation for this next
phase of exploration, a grid is currently being established over
the initial 7 claim group.
Warren Hawkins, P.Eng, a "qualified person" within the meaning
of NI 43-101, has read and is responsible for the technical
information contained in this news release.
Safe Harbor This press release contains
statements, which may constitute "forward-looking statements"
within the meaning of the Securities Act of 1933 and the Securities
Exchange Act of 1934, as amended by the Private Securities
Litigation Reform Act of 1995. Those statements include statements
regarding the intent, belief or current expectations of Shining
Tree Resources Corp. and/or Sarissa Resources Inc., and members of
management as well as the assumptions on which such statements are
based. Prospective investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, and that actual results may
differ materially from those contemplated by such forward-looking
statements. Important factors currently known to management that
could cause actual results to differ materially from those in
forward-statements include fluctuation of operating results, the
ability to compete successfully and the ability to complete
before-mentioned transactions. The Company does not undertake any
obligation to update or revise forward-looking statements to
reflect changed assumptions, the occurrence of unanticipated events
or changes to future operating results.
FOR FURTHER INFORMATION contact: Public Relations: Merle Goertz
North America: 866-307-1331
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