Sarissa Resources Enters Into Agreement With Creso Resources for the Development of Sarissa’s Uranium and Copper Prospects in the Elliot Lake Mining Camp of Northern Ontario
Sarissa Resources, Inc. (PINKSHEETS: SRSR) is pleased to announce that it has signed an agreement with Creso Resources Inc. regarding its uranium and copper holdings in the world renowned Elliot Lake mining camp of Northern Ontario. Creso will pay Sarissa CAN $95,000, as well as 25,000 common shares of Creso Resources Inc. stock, for one hundred percent interest of Sarissa’s share of the St. Nicholas prospect located in the camp. This prospect, of which the Lube Vent Group owns the remaining thirty percent stake, is comprised of 1200 acres and 31 claims, with 39 claims — app. 1500 acres — to be added this year. The Elliot Lake mining camp, a hotbed for Uranium discovery and mining production in the middle part of the 20th century, is widely known within uranium mining circles, mostly for having produced CAN $1.3 Billion of uranium oxide by 1970. The agreement between Sarissa and Creso should close within a month, subject to regulatory approval.
The agreement announced earlier this year with Jourdan Resources over Sarissa’s St. Nicholas prospect has been officially terminated due to lack of approval by Jourdan’s Board of Directors.
Sarissa continues to stake and explore the Elliot Lake mining camp and surrounding regions for opportunities in uranium and precious metals. President and CEO of Sarissa, Ben Fuschino, stated: “This agreement further illustrates the Company’s commitment to the exploration and development of various prospects in this area.”
Sarissa intends to continue this course of identifying and acquiring promising holdings — in this Northern Ontario region as well as other key areas of North America — and utilizing development and other partner-based agreements to develop these assets. “The Company firmly believes that commodity prices will continue to trend higher for many more years, and that we can build substantial leverage through the acquisition of these and other promising prospects.”
As a footnote, Sarissa has terminated all ties with the firm Big Apple Consulting, which had previously performed public relations work for the Company.
About Sarissa Resources, Inc:
Sarissa Resources, Inc., formerly Michigan Gold Mining Investments, Inc., is an exploration company involved in the acquisition and development of mineral assets in North America. Among the Company’s assets are a one hundred percent title to a Platinum/Palladium prospect in the Shillington Township of Ontario known as the “Deadmoose Lake” property, and a seventy percent (70%) interest in the St. Nicholas property, a uranium and copper prospect in the uranium-rich Elliot Lake mining camp. The Mike White Group, who has performed geophysical consulting work for the Company, retains the remaining thirty percent interest of the St. Nicholas prospect.
This press release contains “forward-looking statements.” Forward-looking statements are statements concerning plans, objectives, goals, strategies, expectations, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. These forward-looking statements are only predictions. No assurances can be given that such predictions will prove correct. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, our comparatively limited financial resources, and other factors that may adversely impact us. These or other risks could cause actual results to differ materially from the future results indicated or implied in such forward-looking statements. We undertake no obligation to update or revise such statements to reflect events, circumstances, or new information after the date of this press release or to reflect the occurrence of unanticipated or other subsequent events.
For more information, please visit Sarissa’s corporate Web site located at: www.sarissaresources.com
Investor Relations: Equiti-trend Advisors LLC (800) 953-3350 Toll-Free (US & Canada) (858) 436-3350 Local or Intl.
SOURCE: Sarissa Resources, Inc.