ABV Gold, Inc. Signs an LOI to Acquire a Uranium Prospect in the Elliott Lake Region
Posted on: Thursday, 27 September 2007, 09:00 CDT
ABV Gold, Inc. (PINKSHEETS: ABVG) (FRANKFURT: AB8) is pleased to announce that we have signed an LOI to acquire a uranium prospect in the Elliot Lake Region of Ontario, Canada.
"ABV Gold, Inc. is pleased to announce that we have signed an LOI to acquire a uranium prospect in the Elliott Lake Region of Ontario, Canada," announced Daniel Ryan, President of ABV Gold Inc. "Uranium has always been on the top of our priority list at ABV Gold. We are acquiring the best uranium prospects in order to package them in a wholly owed subsidiary of our company. Once the package is complete and the subsidiary is funded we intend to roll out the uranium division as a separate company. This would create additional value for ABV Gold shareholders and allow ABV to maintain majority control."
Furthermore, Mr. Ryan commented, "The property we have under LOI is right next door to property owned by Pele Mountain Resources. Pele Mountain has had great results in Elliott Lake and the stock has seen a good reaction from investors on the TSXv in Canada. Elliot Lake has a long history in regards to being rich in uranium. The amazing thing to remember here is that our LOI calls for a modest cash payment which is great news for our shareholders. We expect significant upside for the company given the very low risk in terms of expended capital. Shareholders should expect a closing by the end of the month."
About ABV Gold
ABV Gold is a publicly traded, junior mining-exploration company headquartered in Montreal, Canada. The company pursues the acquisition and development of mining properties known to contain significant mineral assets, principally uranium and or gold. For additional information, please visit the corporate website at www.abvgoldinc.com.
Contact: Daniel Ryan President dryan@abvgoldinc.com 1-514-448-2193 Dale Baeten dale@midweststockconsultingllc.com 1-920-418-0153
SOURCE: ABV Gold
Source: MARKET WIRE
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