Vancouver, British Columbia: Alliance Mining Corp. (TSX-V: ALM) (“Alliance” or the “Company”) is pleased to announce that it has signed an option agreement (the “Agreement”) with Tiberius Gold Corp. (“Tiberius”) a private company, under which ALM may acquire 100% of Tiberius’property (the “Property”) located in center of the Bissett Gold Mine Camp Manitoba (the “Transaction”).
“The Board of Directors of Tiberius Gold Corp. is pleased to be entering into an Option Agreement with Alliance Mining Corp and look forward to exciting and positive developments.”
Kenneth W. Munroe, Chairman Tiberius Gold Corp
Under the Agreement, ALM may earn-in a 100% interest in the Property by making certain staged cash payments and/or share payments of common shares in the capital of ALM to Tiberius over a four year period equal to a total of $1,250,000 as follows: (i) $250,000 in cash and/or common shares on or before 90 days of the TSX Venture Exchange’s (the “TSXV”) approval of the Transaction (the “Approval Date”); (ii) $250,000 in cash and/or common shares on or before the first anniversary of the Approval Date; (iii) $250,000 in cash and/or common shares on or before the second anniversary of the Approval Date; $250,000 in cash and/or common shares on or before the third anniversary of the Approval Date; and $250,000 in cash and/or common shares on or before the fourth anniversary of the Approval Date. The Transaction is subject to, among other things, the completion of a National Instrument 43-101 technical report on the Property, and obtaining all necessary regulatory approvals, including the TSXV. If complete, the Transaction will constitute a “Fundamental Acquisition” as such term is defined in TSXV Policy 5.3. The common shares of ALM will remain halted until the TSXV has reviewed the Transaction in accordance with TSXV Policy 5.3.
ON BEHALF OF THE BOARD
Al Beaton, Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Alliance Mining Corp. (604) 488-3900
This news release may contain forward-looking statements including but not limited to the proposed Transaction, completion of a National Instrument 43-101 technical report, comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, and potential mineral recovery processes. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “will”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Actual results may differ materially from those currently anticipated in such statements and the Company undertakes no obligation to update such statements, except as required by law. The reader is cautioned not to place undue reliance on any forward-looking information. There can be no assurance that either of the proposed transactions with Tiberius will be completed or, if completed, will be successful.
Completion of the Transaction is subject to a number of conditions, including but not limited to, TSX Venture Exchange acceptance, if applicable. There can be no assurance that the Transaction will be completed as proposed or at all.
Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates, including that: the current price of and demand for minerals being targeted by the Company will be sustained or will improve; the Company’s current exploration programs and objectives can be achieved; results of exploration activities; the Company will be able to obtain required exploration licences and other permits; general business and economic conditions will not change in a material adverse manner; financing will be available if and when needed on reasonable terms; the Company will not experience any material accident; and the Company will be able to identify and acquire additional mineral interests on reasonable terms or at all. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including: that resource exploration and development is a speculative business; that the Company may lose or abandon its property interests or may fail to receive necessary licences and permits; equipment breakdowns; labour disputes; the increase in cost estimates and the potential for unexpected costs and expenses; the results of exploration activities; that environmental laws and regulations may become more onerous; that the Company may not be able to raise additional funds when necessary; potential defects in title to the Company’s properties; fluctuating prices of commodities; operating hazards and risks; competition; potential inability to find suitable acquisition opportunities and/or complete the same; and other risks and uncertainties listed in the Company’s public filings. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
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.