Newmac Resources Inc.: Camp Acquired Drilling Continues With Two Diamond Drills
April 29 2008 - 12:29PM
Marketwired Canada
Newmac Resources Inc. (TSX VENTURE:NER)(FRANKFURT:N3M) is pleased to announce
that drilling continues with two diamond drills on the Crazy Fox Molybdenum
Project, located 100 km North of Kamloops, British Columbia. In an effort to
establish a permanent camp on the property, so as to be able to operate year
round and efficiently deploy various crews on the property, Newmac is pleased to
announce the purchase of a fishing lodge on the company's mineral property.
Newmac has entered into an agreement with a wholly owned subsidiary, whereby the
numbered company has purchased a fishing camp lease located on Tuloon Lake. The
camp is ideally located right on Newmac's Crazy Fox property and consists of 9
cabins, a lodge, a workshop, and other facilities. The camp can currently
accommodate up to 30 people, and has ample room for expansion. The company has
negotiated a purchase price of $835,000, which the company believes is fair
market value, and will allow Newmac to explore the Crazy Fox property year
round. Drilling and exploration of the property will hereafter be conducted in a
more efficient manner, and the cost of operating the camp should be
significantly cheaper than the company's current accommodations, located one and
a half hours from the property.
Respectfully submitted
ON BEHALF OF THE BOARD
David Schmidt, President
This news release contains forward-looking statements within the meaning of the
"safe harbour" provisions of the Private Securities Litigation Reform Act of
1995. These forward-looking statements are subject to risks and uncertainties
and other factors that may cause Newmac Resources Inc.'s results to differ
materially from expectations. These include risks relating to market
fluctuations, property performance and other risks. These forward-looking
statements speak only as of the date hereof.
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