|By Marketwired .||
|March 20, 2014 06:30 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/20/14 -- Pistol Bay Mining Inc. (TSX VENTURE:PST) ("the Company") reports that it has received TSX Venture Exchange approval to amend the terms of the Portland Graphite Property agreement originally announced February 2013.
Under the terms of the amendment, John E. Riley and Steven J. Riley ("The First Optionor" of the Option 1 Property Agreement dated March 5, 2012 - entered into between The First Optionor and Zimtu Capital Corp. and MPH Consulting Limited) has agreed, in exchange for 300,000 common shares of the Company, to extend the due date for a $60,000 payment from March 4, 2014 until May 4, 2014.
The Company also reports that the Investor Relations agreement with STRIKE Communications Inc., previously announced January 14 2014, has been terminated.
About Pistol Bay Mining Inc. (TSX VENTURE:PST) is a diversified Junior Canadian Mineral Exploration Company with a focus on graphite, precious and base metal properties in North America..
For additional information please contact Charles Desjardins at Pistol Bay Mining Inc. or visit www.pistolbaymining.com.
On Behalf of the Board of Directors
PISTOL BAY MINING INC.
Charles Desjardins, President and Director
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.
This report contains forward looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.