New Dimension Receives Additional Title Confirmation at Cenepa Gold Project, Peru
November 16 2010 - 8:00AM
Marketwired
New Dimension Resources Ltd. (TSX VENTURE: NDR) (the "Company" or
"New Dimension") is pleased to report it has been notified by its
Peruvian legal counsel that final title confirmation has been
received by Minera NDR Peru S.A.C. ("NDR Peru") for an 800 hectare
concession within the Company's Cenepa gold project ("the
Property"), located in northern Peru.
The Property is situated adjacent to the Kinross Gold Corp.
("Kinross") Condor Project and Fruta Del Norte gold deposit in
Ecuador (http://media3.marketwire.com/docs/ndr-cenepa.jpg).
NDR Peru now holds title to nine key concessions and anticipates
receiving the final title for the last remaining original
concession shortly.
About the Cenepa Gold Project
The Property totals over 9,000 hectares in northern Peru along
its border with Ecuador and covers the southern projection of a 20
kilometre long north-south trending mineral belt that includes
Kinross' Condor Project and the Fruta del Norte gold discovery.
The Condor Project, situated in Ecuador, near the Peruvian
border, was acquired by Kinross in September 2008 and hosts a NI
43-101 compliant Inferred Mineral Resource at the Fruta del Norte
deposit of 13.7 million ounces of gold. Kinross currently has 4
drill rigs active on the project and have stated they intend to
complete a pre-feasibility study in 2010.
Also within Kinross' Condor Project is the Aquas Mesas Sur
prospect, which includes an announced drill intercept of 51.1 g/t
gold over 9.2 metres. This prospect is the southern-most known gold
occurrence within this newly emerging gold belt and is located only
five kilometers north, and on trend with, NDR Peru's Property.
Although there has been very limited exploration in Peru where
the Condor Project mineral trend crosses the border, the Company
believes the Property is geologically highly prospective for the
discovery of significant gold deposits.
The technical information in this news release has been prepared
in accordance with Canadian regulatory requirements set out in
National Instrument 43-101 and reviewed by Fred Hewett the
Company's President & CEO, a director and a Qualified Person
under NI 43-101.
ON BEHALF OF THE BOARD
NEW DIMENSION RESOURCES LTD.
Fred G. Hewett, P.Eng., President & CEO
This news release may contain forward looking statements which
are not historical facts, such as anticipated mineral title grants,
resource estimates, or discussions of goals, potential
mineralization and exploration results, and involves a number of
risks and uncertainties that could cause actual results to differ
materially from those projected. These risks and uncertainties
include, but are not limited to, the risk mineral title to
additional concessions may not be granted, assumptions underlying
resource estimates not being realized, geological factors and
exploration results that do not reflect the prospectivity of the
concessions. See New Dimension's filings for a more detailed
discussion of factors that may impact expected results.
This news release does not constitute an offer to sell or
solicitation of an offer to sell any securities in the United
States. The securities have not been and will not be registered
under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act") or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is
available.
Neither 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 news release.
Contacts: New Dimension Resources Ltd. Fred Hewett President
& CEO (604)687-7545 or (888)338-2200 New Dimension Resources
Ltd. Chris Curran Manager Investor Relations (604)687-7545 or
(888)338-2200 info@northair.com www.newdimensionresources.com
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