|By Marketwired .||
|May 20, 2014 11:11 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/20/14 -- Venerable Ventures Ltd. (TSX VENTURE:VLV) ("Venerable" or the "Company") is pleased to announce that, pursuant to an amendment agreement (the "Amendment") dated May 15, 2014 with Robert Carmichael and Landmark Geological Inc. (the "Optionors"), it has increased the size of its Trout Property (the "Property") located in the Nechako Plateau, near Vanderhoof, British Columbia and extended the terms of the option agreement (the "Option Agreement") dated April 26, 2011 with the Optionors, whereby the Company can acquire a 100% in the Property. The terms of the Option Agreement were disclosed in the Company's News Release of May 19, 2011. Two additional claims totaling approximately 2,360 hectares have been added to the Property. The Property now comprises 24 mineral tenures with a total area of approximately 9,631 hectares.
The additional claims enclose ten new areas that contain gold and co-incident multi-element till geochemical anomalies. These areas have received little if any follow-up work and will be ground inspected in the coming weeks. Mineralization at the main Discovery Zone on the Property is a low-sulphidation gold-silver epithermal system hosted by silica-adularia altered breccias in polymictic conglomerate and rhyodacite. At the main Discovery Zone, several new drill targets remain top priority for testing.
The third anniversary payment of $180,000 and issuance of 400,000 shares of the Company, due May 23, 2014 has been extended by 18 months to November 23, 2015, along with the remaining exploration expenditures required under the Option Agreement. In consideration for the addition of the new claims and the extension of the Option Agreement, the Company will make additional payments totaling $20,000 and issue 400,000 additional shares to the Optionors. The Company will also undertake a surface exploration program prior to August 31, 2014 on the new claims with a work commitment of $20,000. The Amendment, the share issuance and the payment obligations thereunder remain subject to approval of the TSX Venture Exchange.
About the Company
Venerable Ventures Ltd. is a Canadian natural resource company engaged in the acquisition, exploration and development of mineral properties, with its primary focus on the Trout Property. The Trout Property is 65 km southwest of Vanderhoof, B.C. on the Nechako Plateau and covers an area of 9,631 hectares. The Property is approximately 40 km NNE of NewGold's Blackwater Project.
ON BEHALF OF THE BOARD OF DIRECTORS OF VENERABLE VENTURES LTD.
Ryan Sharp, President and CEO
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding Venerable's proposed option of the Property. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future including, without limitation: (1) limited operating history, (2) exploration, development and operating risks, (3) regulatory risks, (4) substantial capital requirements and liquidity, (5) competition, (6) reliance on management and dependence on key personnel, (7) fluctuating mineral prices and marketability of minerals, (8) title to properties, (9) local resident concerns, (10) no mineral reserves or mineral resources, (11) environmental risks, (12) governmental regulations and processing licenses and permits, (13) conflicts of interest of management, (14) uninsurable risks, (15) exposure to potential litigation, (16) dividends, (17) and other factors beyond the control of the Company. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including, without limitation: (1) the failure to enter into the Amendment for any reason, (2) the Company's inability to meet its required expenditures under the Amendment and the Option Agreement, assuming such Amendment is entered into, (3) limited operating history, (4) mineral exploration, development and operating risks, (5) substantial capital requirements and liquidity, (6) competition, (7) reliance on management and dependence on key personnel, (8) fluctuating mineral prices and marketability of minerals, (9) regulatory requirements, (10) title to properties, (11) local resident concerns, (12) no mineral reserves or mineral resources, (13) environmental risks, (14) governmental regulations and processing licenses and permits, (15) potential conflicts of interest of management (16) uninsurable risks, (17) exposure to potential litigation, (18) dividends, (19) and other factors beyond the control of the Company's control. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Venerable will obtain from them.
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.
Venerable Ventures Ltd.
President and CEO
As cloud gives an opportunity to businesses to buy services externally - how is cloud impacting your customers? In his General Session at 15th Cloud Expo, Fabio Gori, Director of Worldwide Cloud Marketing at Cisco, will provide answers to big questions: Do you see hybrid cloud as where the world is going? What benefits does it bring? And how does Cisco connect all of these clouds? He will also te...
Oct. 31, 2014 07:00 PM EDT Reads: 857
Can we look to the paradigm of cloud computing from a completely different perspective? In his General Session at 15th Cloud Expo, Gundars Kulups, Sales Director at DEAC, will discuss what we can learn from our dining habits when choosing a cloud solution. Gundars Kulups is Sales Director at DEAC, full service data center operator. An IT expert, he specializes in European countries and has worke...
Oct. 31, 2014 07:00 PM EDT Reads: 723
SYS-CON Events announced today that TMCnet has been named “Media Sponsor” of SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Technology Marketing Corporation (TMC) is the world's leading business to business and integrated marketing media company, servicing niche markets within the communications and t...
Oct. 31, 2014 06:30 PM EDT Reads: 856
SYS-CON Events announced today that Aria Systems, the recurring revenue expert, has been named "Bronze Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Aria Systems helps leading businesses connect their customers with the products and services they love. Industry leaders like Pitney Bowes, E...
Oct. 31, 2014 06:30 PM EDT Reads: 2,136
The 4th International DevOps Summit, co-located with16th International Cloud Expo – being held June 9-11, 2015, at the Javits Center in New York City, NY – announces that its Call for Papers is now open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and ...
Oct. 31, 2014 06:15 PM EDT Reads: 2,145
We live in a time when seconds – even milliseconds – can have a dramatic economic impact on your company’s future. With technology being the primary conduit for consumer interaction, the user experience is at center stage. User experience will be a deciding factor in separating the future winners from the losers. By building more speed and agility into the application delivery process, DevOps prom...
Oct. 31, 2014 06:00 PM EDT Reads: 1,391
SYS-CON Events announced today that AgilePoint, the leading provider of Microsoft-centric Business Process Management software, will exhibit at SYS-CON's 2nd International @ThingsExpo which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. AgilePoint is the leading provider of Microsoft-based Business Process Management (BPM) software products, has 1,...
Oct. 31, 2014 05:00 PM EDT Reads: 1,140
SYS-CON Events announced today that Parasoft will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. For 27 years, Parasoft has researched and developed software solutions that help organizations deliver defect-free software efficiently. By integrating Development Testing, API/cloud/SOA/composi...
Oct. 31, 2014 05:00 PM EDT Reads: 1,026
The Internet of Things (IoT) promises to evolve the way the world does business; however, understanding how to apply it to your company can be a mystery. Most people struggle with understanding the potential business uses or tend to get caught up in the technology, resulting in solutions that fail to meet even minimum business goals. In his session at Internet of @ThingsExpo, Jesse Shiah, CEO / ...
Oct. 31, 2014 04:00 PM EDT Reads: 1,577
SYS-CON Events announced today that Utimaco will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Utimaco is a leading manufacturer of hardware based security solutions that provide the root of trust to keep cryptographic keys safe, secure critical digital infrastructures and protect high val...
Oct. 31, 2014 03:00 PM EDT Reads: 1,940