Star Minerals Group Announces Definitive Agreement With Great Western Minerals for Option & Joint Venture on Hoidas Lake Rare...
04 Dezember 2013 - 12:55PM
Marketwired
Star Minerals Group Announces Definitive Agreement With Great
Western Minerals for Option and Joint Venture on Hoidas Lake Rare
Earth Project
SASKATOON, SASKATCHEWAN--(Marketwired - Dec 4, 2013) - Star
Minerals Group Ltd. (TSX-VENTURE:SUV) ("Star") is pleased to
announce that it has entered into a definitive option and joint
venture agreement (the "Agreement") with Great Western Minerals
Group Ltd. ("GWMG") (TSX-VENTURE:GWG)(OTCQX:GWMGF) pursuant to
which Star has the right and option to acquire up to a 51%
participating interest (the "Interest") in the mineral and other
related rights in and to GWMG's Hoidas Lake Rare Earth Project (the
"Hoidas Lake Project"), an area comprised of fourteen mineral
claims totaling approximately 12,490 hectares and related property
in northern Saskatchewan. The Agreement supersedes the Letter of
Intent announced by Star in its June 4, 2013 news release.
Star's right to acquire the Interest is segregated into two
tranches. Star has the right to acquire a 25% participating
interest in the Hoidas Lake Project by funding and completing a
preliminary economic assessment in respect of the Hoidas Lake
Project within two years. Upon successfully exercising the first
tranche and acquiring a 25% participating interest, Star will have
the right to acquire a 26% participating interest in the Hoidas
Lake Project by funding and completing a "bankable" feasibility
study in respect of the Hoidas Lake Project within four years of
the acquisition by Star of the initial 25% participating interest
in the Hoidas Lake Project.
The completion of the transactions contemplated by the Agreement
is subject to the acceptance of the TSX Venture Exchange and all
other required approvals and consents.
About Star Minerals Group Ltd.
Star is a Canadian based entity focused on the strategic
acquisition and development of resource properties on a worldwide
basis.
For more information, please visit our website at
www.staruranium.com.
ON BEHALF OF THE BOARD
Jim Engdahl, President and Chief Executive Officer
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.
Disclosure Regarding Forward-Looking Statements:
This press release contains certain "forward-looking statements"
within the meaning of applicable securities legislation. Words such
as "might", "will", "should", "anticipate", "plan", "expect",
"believe", "estimate", "forecast" and similar terminology are used
to identify forward looking statements and forward-looking
information. Such statements and information are based on
assumptions, estimates, opinions and analysis made by management in
light of its experience, current conditions and its expectations of
future developments as well as other factors which it believes to
be reasonable and relevant. Forward-looking statements and
information involve known and unknown risks, uncertainties and
other factors that may cause our actual results to differ
materially from those expressed or implied in the forward-looking
statements and information and accordingly, readers should not
place undue reliance on such statements and information. Risks and
uncertainties that may cause actual results to vary include but are
not limited to the speculative nature of mineral exploration and
development, including the uncertainty of resource estimates;
operational and technical difficulties; the availability to the
Corporation of suitable financing alternatives; fluctuations in
commodity prices; changes to and compliance with applicable laws
and regulations, including environmental laws and obtaining
requisite permits; political, economic and other risks arising from
our activities; fluctuations in foreign exchange rates; as well as
other risks and uncertainties which are more fully described in our
annual and quarterly Management's Discussion and Analysis and in
other filings made by us with Canadian securities regulatory
authorities and available at www.sedar.com. While the Corporation
believes that the expectations expressed by such forward-looking
statements and forward-looking information and the assumptions,
estimates, opinions and analysis underlying such expectations are
reasonable, there can be no assurance that they will prove to be
correct. In evaluating forward-looking statements and information,
readers should carefully consider the various factors which could
cause actual results or events to differ materially from those
expressed or implied in the forward looking statements and
forward-looking information.
Star Minerals Group
Ltd.306-664-3828306-244-0042info@staruranium.comwww.staruranium.com
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