🕐27.07.11 - 23:54 Uhr
NORTHERN TIGER RESOURCES REPURCHASES BACK-IN RIGHTS ON SONORA GULCH PROPERTY, YUKON
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Re: News Release - Wednesday, July 27, 2011
Northern Tiger Resources Repurchases Back-In Rights on Sonora
Gulch Property, Yukon
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July 27, 2011: Northern Tiger Resources Inc.
("Northern Tiger" or the
"Company") (NTR: TSX-V) is pleased to announce that it has reached an
agreement with Capstone Mining Corp.s wholly owned subsidiary, Minto
Explorations Ltd.
("MintoEx") to extinguish the back-in rights MintoEx
holds on the Sonora Gulch Property.
"With a nine square kilometre gold-in-soil anomaly, multiple gold
intercepts in drill holes and a recent independent NI 43-101 Report
recommending 16,400 metres of drilling, we believe that Sonora Gulch
has significant exploration potential for intrusion related gold
mineralization and porphyry copper-gold," says Greg Hayes, President of
Northern Tiger.
"This transaction with MintoEx eliminates any
uncertainty as to the future ownership of Sonora Gulch and unencumbers
this key asset for future business opportunities or development."
When Northern Tiger was formed in 2008 it acquired five Dawson Range
properties from MintoEx that covered copper mineralization and
exploration targets thought to be similar to those found at Capstones
Minto Mine.
At that time Northern Tiger and MintoEx entered into a
Regional Exploration Alliance Agreement and MintoEx was granted certain
back-in rights to Northern Tiger properties within a 50 kilometre
radius of the Minto Mill.
Now, at the request of Northern Tiger, and
in order to unencumber the Sonora Gulch property, MintoEx has agreed to
sell the its back-in rights in that property in consideration of
$200,000.
Northern Tiger shall satisfy this payment through the
issuance of 421,052 common shares at a deemed issuance price of $0.475
per common share.
The Regional Exploration Alliance remains intact,
and MintoEx retains their back-in rights on other projects within 50
kilometres of the Minto Mill.
The transaction is subject to approval
of the TSX Venture Exchange.
Northern Tiger Resources Inc.
(NTR: TSX-V) is a Canadian-based resource
exploration company focused on gold and copper exploration in the
Yukon.
The company has a portfolio of gold and copper focused projects
in the Yukon, including 3Ace (high-grade gold discovery made in 2010),
Sprogge, Sonora Gulch and five properties prospective for Minto-style
high-grade copper mineralization.
Through its exploration alliance with
Capstone Mining Corp.s wholly owned subsidiary, Minto Explorations
Ltd., Northern Tiger benefits from a wide range of experience,
knowledge and capabilities from early exploration to mine production.
For further information please contact:
Greg Hayes, President and CEO
This news release may contain forward looking statements, being
statements which are not historical facts, including, without
limitation, statements regarding potential mineralization, exploration
results, resource or reserve estimates, anticipated production or
results, sales, revenues, costs, "best-efforts" financings or
discussions of future plans and objectives.
There can be no assurance
that such statements will prove accurate.
Such statements are
necessarily based upon a number of estimates and assumptions that are
subject to numerous risks and uncertainties that could cause actual
results and future events to differ materially from those anticipated
or projected.
Important factors that could cause actual results to
differ materially from the Companys expectations are in Company
documents filed from time to time with the TSX Venture Exchange and
provincial securities regulators, most of which are available at
www.sedar.com.
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.
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Copyright (c) 2011 NORTHERN TIGER RESOURCES (NTR) All rights reserved.
For more information visit our website at
http://www.northern-tiger.com/ or send mailto:
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