Super Nova Minerals Corp. Announces Agreement to Expand Its Bakken Exploration Rights to 16,000 Contiguous Acres & the Appoin...
January 30 2014 - 1:12PM
Marketwired
Super Nova Minerals Corp. Announces Agreement to Expand Its Bakken
Exploration Rights to 16,000 Contiguous Acres and the Appointment
of New CEO and Director
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 30, 2014) -
Super Nova Minerals Corp. (CSE:SNP)(PINKSHEETS:SNOVF) (the
"Company" or "Super Nova") announces that the Company has entered
into an agreement with Glen Landry to acquire a 100% working
interest and 80% net revenue interest in oil and gas leases
covering 6,000 acres of property (the "Property"). The Property is
contiguous to the east and south of the 10,000 acres that the
Company has an option to acquire an 80% working interest in, as
previously announced by the Company on January 16, 2014 (the
"Farmout Lands").
In exchange for the 100% working interest and 80% net revenue
interest in the Property, the Company will issue 1,500,000 common
shares and 1,500,000 warrants to Glen Landry. The warrants will be
exercisable at a price of $0.075 per share until the first
anniversary of the agreement, $0.10 until the second anniversary of
the agreement, and $0.125 until the expiration of the warrants on
the third anniversary of the agreement. If commercially viable
resources are discovered on the property, the Company must issue an
additional 3,500,000 common shares to Glen Landry. There are no
work commitment requirements on the Property.
Collectively, the Property and the Farmout Lands cover 16,000
contiguous acres located in Lewis and Clark County on the Alberta
Bakken Fairway, 60 km southwest of the city of Great Falls in
Northwest Montana.
The Company has commissioned Chapman Petroleum Engineering Ltd.
of Calgary, Alberta to author a National Instrument 51-101 report
on the Millford Bakken property. This news release has been
reviewed and approved by Charlie Chapman, P. Eng., of Chapman
Petroleum Engineering Ltd., a Qualified Person as defined by N.I.
51-101.
There is no certainty that any portion of the resources will be
discovered on the Property or the Farmout Lands. If discovered,
there is no certainty that it will be commercially viable to
produce any portion of the resources.
The Company is also pleased to announce that David B. Jackson
has consented to act as Chief Executive Officer and as a director
of the Company. Mr. Jackson has over 35 years of business
experience with private and public corporations, focused on land
development, natural resources and industrial machinery. He has
broad experience in the initiation, negotiation, planning and
launching of projects in Canada and internationally. In addition,
Mr. Jackson has experience providing advisory services related to
development, marketing, fundraising and corporate finance. He
serves on the board of two public companies, Mineral Hill
Industries and Ascot Mining and two private companies, Veritas
Mining SA, and Veritas Resources SA. He has an extensive network of
business contacts internationally.
Wolf Wiese has resigned as Chief Executive Officer, but will
retain his positions as President and as a director of the
Company.
On behalf of the Board of Directors:
SUPER NOVA MINERALS CORP.
Wolf Wiese, President
THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL
RESPONSIBILITY FOR ITS CONTENTS. NEITHER CSE NOR ITS REGULATION
SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE. THIS DOCUMENT CONTAINS CERTAIN FORWARD
LOOKING STATEMENTS WHICH INVOLVE KNOWN AND UNKNOWN RISKS, DELAYS,
AND UNCERTAINTIES NOT UNDER THE COMPANY'S CONTROL WHICH MAY CAUSE
ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE
MATERIALLY DIFFERENT FROM THE RESULTS, PERFORMANCE, OR ACHIEVEMENTS
IMPLIED BY THESE FORWARD LOOKING STATEMENTS. WE SEEK SAFE
HARBOR.
Super Nova Minerals Corp.Investor
Relations604-221-8936604-336-1490allinfo@supernovaminerals.com