VMS Ventures Inc. (TSX VENTURE: VMS) ("VMS") is pleased to announce that it has engaged the services of Huashan Capital of Shanghai, China, and in connection therewith, has appointed the principals of Huashan Capital, David Chen and Hock Ong, to its Advisory Board. In connection with his appointment, Mr. Chen has been granted 200,000 options, exercisable at a price of $0.42 for a term of 5 years.

Under the term of the consulting agreement VMS has engaged Huashan Capital to provide fiscal and corporate advisory and consulting services to VMS on a non-exclusive basis in Asia for a term of 18 months, subject to renewal and subject to a mutual right of termination on 30 days' notice.

As consideration for the services under the Agreement, VMS has agreed, subject to the acceptance of the TSX Venture Exchange, to pay Huashan a success fee (the "Success Fee") in connection with any transaction involving one or more of VMS's mineral properties entered into with a third party introduced by Huashan Capital (a "Transaction"). The Success Fee will consist of a cash payment equal to 1% of the monetary value of a Transaction and such number of warrants or shall have a total exercise price equal to 2.5% of the monetary value of a Transaction, such warrants to have a term of two years and an exercise price based upon the trading price of VMS shares at the time of the Transaction.

Huashan Capital was established in 2009 as an advisory firm focusing primarily on the mining industry, specializing in cross border M&A, advisory and fundraising transactions for mining companies globally. Since formation, Huashan Capital has achieved a track record of successfully assisting Chinese companies to acquire and invest in international mining projects and companies; and global mining capitals to access capital and strategic investors from China to develop their mining projects and development capital.

Examples of notable transactions that Huashan Capital has completed include: assisting Vale to identify a Chinese acquirer for their Central Asia copper project; assisted an Australian gold exploration company to exit its China gold mine project; and assisting an African gold exploration company to complete its fundraising for further exploration.

Rick Mark, VMS' CEO, states: "When we met David Chen in Hong Kong last spring we were impressed with his understanding of the mining industry in China and throughout Asia. VMS has an extensive land package prospective for base metals that merits a major exploration campaign and we are asking Huashan to be our ears and eyes in Asia for possible partners who might see opportunities in advanced exploration in Manitoba. We are very pleased they are now a part of our team."

David Chen states: "We are very impressed with the VMS technical team which has already established a record of discovery and we believe the Flin Flon - Snow Lake belt is among the most prospective areas in the world to hunt for Copper. Our objective is to bring Chinese investors to these opportunities and realize their full potential."

About VMS Ventures Inc.

VMS Ventures Inc. is focused primarily on acquiring, exploring and developing copper-zinc-gold-silver massive sulphide deposits in the Flin Flon-Snow Lake VMS Belt of Manitoba. The Company's VMS project property portfolio consists of the Reed Lake Project, Copper Project, McClarty Lake Project, Sails Lake Project, Puella Bay Project and Morton Lake Project. Outside of the Snow Lake camp, the Company holds massive sulphide prospective properties near the past producing Fox Lake and Ruttan copper-zinc mines, near the communities of Lynn Lake and Leaf Rapids in northern Manitoba. These properties are located in the mining friendly province of Manitoba, Canada. The Company also has optioned three properties in the Sudbury mining camp. They are Terra Incognita, Golden Pine and Black Creek.

VMS Ventures owns approximately 45% of North American Nickel Inc. (TSX VENTURE: NAN). For more information on North American Nickel Inc., please visit www.northamericannickel.com.

Forward Looking Statement

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. VMS Ventures Inc. undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

ON BEHALF OF THE BOARD OF DIRECTORS

John Roozendaal, President

VMS Ventures Inc.

Neither the 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.

Contacts: VMS Ventures Inc. Keith Patey Director of Communications (604) 986-2020 or Toll Free: 1-866-816-0118 www.vmsventures.com Launch IR Matt Harrington (613) 882-7467 Launch IR Dean Hanisch (613) 882-7467

Vortex Metals (TSXV:VMS)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Vortex Metals Charts.
Vortex Metals (TSXV:VMS)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Vortex Metals Charts.