FIX Firebird Resources Inc

Firebird Resources Inc. (TSX VENTURE:FIX) ("Firebird" or the "Company") is
pleased to announce that it has exercised its initial option to acquire a
seventy percent (70%) interest (the "First Option") in the Buzzard-Jefferson
Property (the "Property") pursuant to the terms and conditions set forth in its
previously announced mining option agreement, as amended (the "Option
Agreement"), with Pageland Minerals Ltd. ("Pageland"). In order to exercise the
First Option, the Company made cash payments to Pageland totaling $700,000,
issued 9,056,603 common shares of the Company and incurred exploration
expenditures in the aggregate amount of $495,000 in respect of the Property, in
addition to reimbursing Pageland for certain additional costs and payments.


In connection with its exercise of the First Option, Firebird issued an
additional 400,000 common shares of the Company to Pageland at a deemed price of
$0.53 per share in consideration for Pageland's agreement to extend the time by
which Firebird was required to exercise the First Option. 


Firebird continues to have the option to acquire the remaining thirty percent
(30%) interest in the Property by making a cash payment of $1,800,000 to
Pageland and incurring exploration expenditures of up to a maximum of $1,000,000
in respect of the Property on or before July 31, 2012, as more particularly set
forth in the Option Agreement. 


About Firebird

Firebird is a mineral exploration company whose long term objective is to build
a diversified company focused on the acquisition, exploration and development of
mineral properties.


Forward-looking Statements

This news release contains certain forward-looking statements that reflect the
current views and/or expectations of management with respect to performance,
business and future events, including but not limited to express or implied
statements and assumptions regarding the Company's intention to exercise the
remaining option referred to herein. Forward-looking statements are based on the
then-current expectations, beliefs, assumptions, estimates and forecasts about
the business and the industry and markets in which the Company operates.
Forward-looking statements are not guarantees of future performance and involve
risks, uncertainties and assumptions which are difficult to predict. Investors
are cautioned that all forward-looking statements involve risks and
uncertainties including, without limitation, that the Company will choose not
exercise the remaining option and those risks relating to changes in the market,
potential downturns in economic conditions, fluctuations in the price and supply
of raw materials, equipment and skilled labour, fluctuations in the market price
of minerals, foreign exchange fluctuations, regulatory requirements and changes
thereto, competition, and other risk factors listed from time to time in the
Company's public filings. These risks, as well as others, could cause actual
results and events to vary significantly. Accordingly, readers should not place
undue reliance on forward-looking statements and information, which are
qualified in their entirety by this cautionary statement. The Company does not
undertake any obligations to release publicly any revisions for updating any
voluntary forward-looking statements, except as required by applicable
securities law.

Firebird Resources (TSXV:FIX)
Historical Stock Chart
From Oct 2024 to Nov 2024

Firebird Resources (TSXV:FIX)
Historical Stock Chart
From Nov 2023 to Nov 2024