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VENDOME RESOURCES CORP.
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Vendome Resources Corp
May 07, 2012
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Vendome Provides Update for the San Javier Mine Property (Mexico)
TORONTO, ONTARIO--(Marketwire - May 7, 2012) - Vendome Resources Corp.
(TSX VENTURE:VDR)(FRANKFURT:9VR)
("Vendome" or the "Company") is pleased to provide an update for the San Javier
Mine property (the "property") located within the municipality of Malinaltepec,
State of Guerrero, Mexico.
An exploration program targeting the propertys mineralized systems is now well
underway.
In excess of 600 chip and channel samples have been collected from existing
and newly exposed mineralized showings at the property.
The Companys consultant
A.C.A Howe International Limited is presently conducting detailed field mapping
and reconnaissance.
The preliminary results of this mapping appear to have enlarged
the known mineralized envelope of the vein system and field staff believes that
the San Javier vein system may be a hydrothermal system related to regional volcanism.
Chip and channel samples have been submitted to SGS Laboratories in Durango, Mexico.
Analytical results are expected within the next two to three weeks.
Mr.
Franz Kozich, President of Vendome states "we are very excited with the indications
of the initial exploration work at the San Javier Mine Property.
New vein exposures
with the potential to yield high grade polymetallic values have been identified
by our field staff, as well as lower grade bulk mineralization in the altered wall
rocks that host these veins.
The scale of the mineralized system at San Javier continues
to grow."
The property is 253 hectares in size and is located within the Sierra Madre del
Sur precious metal belt of southwestern Mexico.
The Company has the option to acquire
a 50% interest in the San Javier Mine property by making aggregate cash payments
of $325,000, issuing 3,800,000 common shares over a two year period, and incurring
$2,600,000 in exploration expenditures over a three year period.
Warren Hawkins, P.Eng, a "Qualified Person", within the meaning of National Instrument
43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved
the scientific and technical information contained in this news release.
Mr.
Hawkins
is not considered to be "independent" of the Corporation (as defined in National
Instrument 43-101), as he currently holds securities of the Corporation.
This news release contains certain "forward-looking statements".
All statements,
other than statements of historical fact that address activities, events or developments
that the Corporation believes, expects or anticipates will or may occur in the future
are forward looking statements.
These forward-looking statements reflect the current
expectations or beliefs of the Corporation based on information currently available
to the Corporation.
Such forward-looking statements include, among other things,
statements relating to the Corporations entry into an agreement in respect of
the right to earn a 50% undivided interest in the Property and the proposed terms
thereof.
Forward-looking statements are subject to significant risks and uncertainties
and other factors that could cause the actual results to differ materially from
those discussed in the forward-looking statements, and even if such actual results
are realized or substantially realized, there can be no assurance that they will
have the expected consequences to, or effects on the Corporation.
Factors that
could cause actual results or events to differ materially from current expectations
include, but are not limited to: the failure to acquire an interest in the Property,
or the right to earn an interest in the Property, on the terms currently proposed
or at all; the failure to obtain any required regulatory or stock exchange approvals
and other factors.
Any forward-looking statement speaks only as of the date on which
it is made and, except as may be required by applicable securities laws, the Corporation
disclaims any intent or obligation to update any forward-looking statement, whether
as a result of new information, future events or results or otherwise.
Although
the Corporation believes that the assumptions inherent in the forward-looking statements
are reasonable, forward-looking statements are not guarantees of future performance
and accordingly undue reliance should not be put on such statements due to the inherent
uncertainty therein.
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.
Contact Information
Vendome Resources Corp.
Franz Kozich
CEO
(416) 708 6871 or (647) 932 1604
[mailto:]
www.vendomeresourcescorp.com
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Vendome Resources Corp | 133 Richmond Street West, Suite 403 | Toronto | Ontario | M5H 2L3 | Canada