Lexam Explorations Inc.: Baca Oil & Gas Project Update
September 04 2009 - 4:01PM
Marketwired
LEXAM EXPLORATIONS INC. (TSX VENTURE: LEX) announces that the
federal District Court in Denver, Colorado granted San Luis Valley
Ecosystem Council's (SLVEC) Motion for a Preliminary Injunction
against the United States Fish and Wildlife Service. Lexam is
disappointed by the Court's decision as it prohibits any
exploration drilling by the company until a final ruling is reached
in the litigation. The timing of any such ruling is unknown at this
time. Lexam intends to update shareholders on the ongoing
litigation once more details become available.
ABOUT LEXAM
Lexam is a North American exploration company. The company is
advancing the Baca Oil & Gas Project located in south-central
Colorado, USA, which is 75% owned by Lexam and 25% by
ConocoPhillips, it also has a 50% joint venture interest in the
Otish Basin uranium project located in Quebec, Canada with Golden
Valley Mines. The Company holds significant equity stakes in
Rubicon Minerals Corp. and VG Gold Corp.
CAUTIONARY STATEMENT
Some of the statements contained in this release are
"forward-looking statements". Such forward-looking statements
involve known and unknown risks, uncertainties and other factors
that may cause our actual results, performance or achievements to
differ materially from the anticipated results, performance or
achievements expressed or implied by such forward-looking
statements. Factors that could cause actual results to differ
materially from anticipated results include risks and uncertainties
such as: ability to raise financing for further exploration and
development activities; risks relating to estimates of reserves,
deposits and production costs; extraction and development risks;
the risk of commodity price fluctuations; political, regulatory and
environmental risks; and other risks and uncertainties in the
reports and disclosure documents filed by Lexam from time-to-time
with Canadian securities regulatory authorities. Lexam disclaims
any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. The complete fourth quarter 2008 and second quarter
2009 reports including management's discussion and analysis,
financial statements and notes can be found on the Company's
website at www.lexamexplorations.com and on SEDAR at
www.sedar.com.
Contacts: Lexam Explorations Inc. Ian Ball VP, Corporate
Development (647) 258-0395 or Toll Free: (866) 441-0690 (647)
258-0408 (FAX) Lexam Explorations Inc. Mailing Address 99 George
Street, 3rd Floor Toronto, ON M5A 2N4 Email:
info@lexamexplorations.com
Longhorn Exploration (TSXV:LEX)
Historical Stock Chart
From Dec 2024 to Jan 2025
Longhorn Exploration (TSXV:LEX)
Historical Stock Chart
From Jan 2024 to Jan 2025