🕐12.04.12 - 16:54 Uhr
STRATABOUND REPORTS PROGRESS TOWARDS CNE PRODUCTION; ANNOUNCES N.B. & QUE. EXPLORATION PROGRAMS
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N E W S R E L E A S E
SB: TSX Venture Exchange Issued:
65,145,111 shares
Stratabound reports progress towards CNE production
Calgary, 12 April, 2012 - Stratabound Minerals Corp.
(TSX.V:SB) is pleased
to announce completion of a significant stage in moving its Captain North
Extension (CNE) lead-zinc-silver-copper-gold deposit towards production.
The Environmental Impact Assessment registration documents have now been
completed and filed with the Director of the Sustainable Development,
Planning and Impact Evaluation Branch of New Brunswicks Department of
Environment.
The Department of Environment will determine within 30 days
whether any additional information is required to complete its evaluation.
The company is now proceeding with the public engagement phase, which
involves dissemination of information about the project through public
access to the filed documents, and discussions with potentially affected
local stakeholders through public meetings and presentations.
Meetings will
also be held with First Nation Communities to determine whether any negative
impacts might occur if the project goes ahead, and if so, what may be done
in order to mitigate any such potential impact.
This public engagement
phase will be completed within sixty days.
The company will react quickly if any action is required, with the aim of
reaching a production decision by mid-summer.
If all goes well a production
decision will be made as early as August 2012.
Exploration will begin after spring break-up on the optioned Commander
property which is adjacent to the northern boundary of Stratabounds CNE and
Captain claims.
Stratabound will proceed with a gravity survey covering
separate copper-gold-cobalt and lead-zinc-silver occurrences prior to
drilling.
In a separate development, Stratabound has entered into an agreement with
Canuck Exploration Ltd., a private company based in La Motte, Qubec.
The
agreement allows Canuck to earn a 25% interest in Stratabounds 19-claim
Gemini Hills, Qubec gold prospect by drill-testing a prominent geophysical
anomaly (induced polarization and magnetic) flanking several gold
occurrences and soil anomalies detected in 2010 and 2011 exploration
programs.
Canuck expects to drill in May.
About Stratabound Minerals Corp.
Stratabound is a Canadian natural resource company exploring and developing
its gold and base metal properties in eastern Canada.
It is currently
focused on bringing the CNE deposit into production, while continuing to
build a resource base in the infrastructure-rich, world-class Bathurst
Mining District of northern New Brunswick.
For further information contact:
Stan Stricker, P.
Geol, President
403-258-3630
www.stratabound.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.
WARNING: the Company relies upon litigation protection for forward looking
statements.
The information in this release may contain forward-looking
information under applicable securities laws.
This forward-looking
information is subject to known and unknown risks, uncertainties and other
factors that may cause actual results to differ materially from those
implied by the forward-looking information.
Factors that may cause actual
results to vary materially include, but are not limited to, inaccurate
assumptions concerning the exploration for and development of mineral
deposits, currency fluctuations, unanticipated operational or technical
difficulties, changes in laws or regulations, the risks of obtaining
necessary licenses and permits, changes in general economic conditions or
conditions in the financial markets and the inability to raise additional
financing.
Readers are cautioned not to place undue reliance on this
forward-looking information.
The Company does not assume the obligation to
revise or update this forward-looking information after the date of this
release or to revise such information to reflect the occurrence of future
unanticipated events, except as may be required under applicable securities
laws.
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