|February 09, 2011|
Inmet options Evrim's Cumobabi and Suaqui Verde Projects in Sonora, Mexico
|Vancouver, BC -- February 9, 2011: Evrim Resources Corp. (TSX.V:EVM) ("Evrim" or the "Company") is pleased to announce two option agreements with Inmet Mining Corporation ("Inmet") whereby Inmet may acquire a 60% interest in Evrim's Cumobabi and Suaqui Verde projects in Sonora, Mexico. Under the terms of the agreements, Inmet will conduct C$5,000,000 in exploration and make cash payments totaling C$250,000, over a five-year period on each of the properties.|
The Cumobabi project is a 364 km2 project surrounding the past producing Cumobabi porphyry molybdenum-copper mine owned by Grupo Mexico and Minera Frisco, and covers extensive portions of the Cumobabi breccia district. Work conducted by Evrim's predecessor uncovered the Potreritos breccia adjacent to a 10 km² magnetic and gravity low anomaly with associated anomalous copper geochemistry in stream sediment samples. The project area has seen little systematic exploration, except for focused work on the Potreritos breccia. Drilling highlights from Potreritos include 26 metres grading 0.55% copper and 4 g/t silver (drill hole POT-DD-001), and 9.15 metres grading 2.65% copper and 21 g/t silver (drill hole POT-RC-01).
The Suaqui Verde project covers 55 km² of ground adjacent to the privately owned Suaqui Verde copper oxide resource. On Suaqui Verde's eastern margin, an untested 500 x 500 metre greater than 1000ppm copper soil anomaly covers the possible extension to the mineralized resource area. On the property's western margin, intensely altered and oxidized stockworks of quartz monzonites and potassic and phyllic altered andesites occur over 500 metres in an east-west orientation and correspond with a greater than 1000ppm copper soil anomaly. Historic drilling a further 200 metres to the east returned 95 metres grading 0.14% copper, 0.03g/t gold (drill hole ASDD-02) in strongly potassic altered andesites and monzonites before intersecting a fault and ending in post-mineral volcanic rock.
Paddy Nicol, President of Evrim commented, "We are very pleased to have a global producer such as Inmet for an exploration partner, which attests to the quality and potential of our projects. We will continue to leverage our expertise to evaluate and generate new discovery opportunities for prospective joint venture partners, thereby enhancing shareholder value."
About Evrim Resources
Evrim is a junior exploration company with a diverse portfolio of quality gold and copper projects, and a geological database covering Mexico and portions of southwestern United States. Evrim's business plan is to generate exploration targets that it will advance through option and joint venture agreements with industry partners to create shareholder value. The projects generated to date form a solid foundation for Evrim's execution of the joint venture business model, which will be further enhanced by a pipeline of new projects developed internally.
Qualified Person Statement
The content of this release has been reviewed by David Caulfield, P. Geo., and Director of the Company. Mr. Caulfield is a Qualified Person as defined under the terms of National Instrument 43-101.
For further information on Evrim please visit www.evrimresources.com.
On Behalf of the Board
EVRIM RESOURCES CORP.
President, CEO, & Director
To find out more about Evrim Resources Ltd., please contact Paddy Nicol, President or Rory Kutluoglu, VP Business Development at 604-248-8648.
Forward Looking Information
This news release includes certain statements that may be deemed "forward looking statements". All statements in this news release, other than statements of historical facts, that address events or developments that Evrim Resources Corp. (the "Company") expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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