TORONTO, Dec. 13, 2018 /CNW/ - Orefinders Resources
Inc. ("Orefinders" or the "Company") (TSX.V: ORX) is pleased to
advise that, as a significant shareholder in Power Ore Inc. ("Power
Ore"), we are keeping our shareholders aware of their recent,
transformational acquisition of the Opemiska Copper Mine Complex
("Opemiska"). Today Power Ore announced that they have entered into
an agreement to acquire a 100% interest in Opemiska from a
privately owned arms length company. Opemiska consists of two past
producing underground copper mines in Springer and Perry and
neighbours the town of Chapais,
Québec. Falconbridge operated
Opemiska from 1953 to 1991 where it produced a total of 23 million
tonnes at 2.4% copper, 0.3 gpt gold.
Full Details on the Opemiska Copper Mine Complex is available
in Power Ore's Project Presentation
"Orefinders believes that the Opemiska Copper Mine Complex is
one of the best copper development opportunities in Québec and
specifically within the world renowned Chibougamau region. Being a copper project,
this acquisition falls in line with Power Ore's electrification
metals focus and has the potential to be fast tracked, given its
location in a favourable jurisdiction, access to infrastructure and
a host of other advantages it offers, as detailed in their
December 12, 2018 news release.
Orefinders owns over 5 million shares in Power Ore and is happy to
have such a significant equity exposure to the company. We expect
Power Ore's value to grow substantially as a result of this
transformative acquisition", said Stephen
Stewart, Orefinders' CEO.
QP Statement
The technical information contained in this news release has
been reviewed and approved by Charles
Beaudry, P.Geo, Director and Vice President Exploration for
Orefinders Resources Inc., who is a Qualified Person as defined in
"National Instrument 43-101, Standards of Disclosure for Mineral
Projects." The statistics on past production at Opemiska were
taken from the literature and are thought to be reasonable
estimates of the previous production on the property.
About Orefinders Resources Inc.
Orefinders is a Gold exploration and development company focused
exclusively within the Abitibi Greenstone Belt. The Company is
listed on the Toronto Venture Exchange under the symbol ORX.
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
release. Certain information in this press release may contain
forward-looking statements. This information is based on current
expectations that are subject to significant risks and
uncertainties that are difficult to predict. Actual results might
differ materially from results suggested in any forward-looking
statements. Orefinders' assumes no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those reflected in the forward
looking-statements unless and until required by securities laws
applicable to Orefinders. Additional information identifying risks
and uncertainties is contained in filings by Orefinders with
Canadian securities regulators, which filings are available under
Orefinders' profile at www.sedar.com
SOURCE Orefinders Resources Inc.