Manson Creek Corporate Update
October 18 2011 - 4:57PM
Marketwired
Virgin Arm Gold Property, Newfoundland
Manson Creek (TSX VENTURE:MCK) has reached an agreement with the
Property Vendors to amend the Virgin Arm Option Agreement dated
November 7, 2009. The November 30, 2011 deadline for the property
payment of $35,000 will be extended to May 30, 2012. This will
allow the Company additional time to evaluate data from the recent
diamond drill program including the imminent metallic screen
analysis. The timing of all other future option payments due
pursuant to this agreement will remain the same.
Gold has been identified in a mineralized corridor of 4.2
kilometers by up to 800 meters on the Virgin Arm property as
defined by trenching and diamond drilling. The Virgin Arm gold
property is an excellent target for significant new gold resources
with high grade gold values to 10.07 g/t found within zones of
lower grade gold mineralization. The Company has demonstrated that
a widespread, previously unrecognized, gold system is present at
the Virgin Arm property and that there is potential for the
discovery of a large, bulk tonnage style gold mineralized
system.
Warrants
TSX Venture Exchange approval has been received to extend the
expiry date of 5,833,333 Warrants exercisable at $0.10 from
November 24, 2011 to May 24, 2012.
Options
Manson Creek has granted Stock Options under its Stock Option
Plan to a consultant to purchase up to 20,000 common shares until
October 11, 2014, at an exercise price of $0.10 per share.
Regan Chernish, P. Geol., President and Director
Except for the historical and present factual information
contained herein, the matters set forth in this news release,
including words such as "expects", "projects", "plans",
"anticipates" and similar expressions, are forward-looking
information that represents management of Manson Creek's internal
projections, expectations or beliefs concerning, among other
things, future operating results and various components thereof or
the economic performance of Manson Creek. The projections,
estimates and beliefs contained in such forward-looking statements
necessarily involve known and unknown risks and uncertainties,
which may cause Manson Creek's actual performance and financial
results in future periods to differ materially from any projections
of future performance or results expressed or implied by such
forward-looking statements. These risks and uncertainties include,
among other things, those described in Manson Creek's filings with
the Canadian securities authorities. Accordingly, holders of Manson
Creek shares and potential investors are cautioned that events or
circumstances could cause results to differ materially from those
predicted. Manson Creek disclaims any responsibility to update
these forward-looking statements.
The TSX Venture Exchange has neither approved nor disapproved of
the contents of this press release.
Contacts: Manson Creek Resources Ltd. Regan Chernish President
and Director 1.403.233.0464www.manson.ca
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