Sarissa Files 43-101
Technical Report and Provides Update on
Developments
Oakville, ON -- April 27th,
2015 -- InvestorsHub NewsWire -- Sarissa Resources Inc. (“Sarissa”
[SRSR:OTCPK],
or the “Company”) is pleased to report that it has filed a
technical report prepared under National Instrument 43-101
- Standards of Disclosure for Mineral Projects ("NI
43-101") prepared by Patrick Chance, P.Eng., dated April 23, 2015
and titled "Nemegosenda Lake Niobium Property, Chewett,
Collins and McGee Townships, Porcupine Mining Division, Ontario,
Canada - a NI 43-101 Compliant Technical Report (“Technical
Report"). The Report is available on www.sedar.com.
The Company's wholly owned
subsidiary, Nio-Star Corp. ("Nio-Star"), is receiving an equivalent
report. The Company anticipates that Nio-Star will use its
report in connection with a prospectus that would soon be filed
with the Ontario Securities Commission. Assuming the Ontario
Securities Commission grants a receipt for this prospectus,
Nio-Star would become a reporting issuer in Ontario, and the
Company anticipates that its shares of Nio-Star would be spun-out
to those shareholders of Sarissa who are shareholders of record as
of a ‘Record Date’ that will be announced.
In addition, the Company is working
to expand the membership on the Board of Directors of Nio-Star
through the addition of additional members who possess proven
mining, capital markets and operating experience that will
accelerate Nio-Star's growth and development. Sarissa expects
to release details on these developments in the very near
future.
Finally, the Company is focusing
its energies to complete the work requested by RPA Associates to
finalize a resource estimate on the Nemegosenda project. The
Company anticipates that this work will be completed in the near
future, after which preparation of a Preliminary Economic
Assessment (PEA) would be undertaken.
“Things are beginning to accelerate
for Sarissa and Nio-Star, which is now rapidly moving along its
development path. This is the first of several announcements
regarding the achievement of significant milestones that will be
forthcoming over the next several weeks”, according to Sarissa CEO
Scott Keevil.
“Receiving the completed 43-101
Technical Report allows the Company to accelerate the measures it
has undertaken towards achieving our ultimate goals, namely:
the upcoming expansion of the Board of Directors of Nio-Star,
Nio-Star becoming a public company in Canada, the spin-out of
Nio-Star to Sarissa's shareholders, the completion of a "resource"
calculation that is presently being prepared by RPA Associates for
the Nemegosenda niobium property, and the preparation and
completion of a Preliminary Economic Assessment on that
property. As these goals are met, we are confident that
Nio-Star and the Nemegosenda niobium project will be transformed.
We are excited to let the mining world and the investor community
know about the potential of Nio-Star’s Nemegosenda niobium property
and its unique surface deposit”, said Dan Byrnes, President of
Sarissa Resources.
About Sarissa Resources
Inc.
Sarissa Resources Inc. is a junior
exploration company with interests in properties in Northern
Ontario, Canada. Sarissa and Nio-Star are specifically focused on
the development of the Nemegosenda niobium project as well as the
Shining Tree Resources Corp. gold project. Visit
www.sarissaresources.com for additional information.
Safe
Harbor
This press release contains
statements which involve known and unknown risks, uncertainties and
other factors 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 Sarissa
Resources Inc. and Nio-Star Corp., as well as members of their
respective management and board of directors, in addition to 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 financial results and positions, the ability
to compete successfully and the ability to complete exploration and
testing, as well as business transactions. Neither Sarissa nor
Nio-Star undertakes 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
Sarissa Resources Inc.
Telephone: 866-307-1331
Email: ir@niostar.com