|January 16, 2012|
Evrim Signs Regional Alliance Agreement
|Vancouver, BC - January 16, 2012 : Evrim Resources Corp. (TSX.V:EVM) ("Evrim" or the "Company") is pleased to announce the signing of a three-year Regional Alliance Agreement (the "Alliance") with Newmont Ventures Limited ("Newmont") for generative exploration within study areas in the Trans Mexican Volcanic Belt ("TMVB") in Mexico. The Alliance will focus on identifying gold, silver, and gold-copper porphyry targets using Evrim's generative capabilities in Mexico and Newmont's proprietary bulk leach extractable gold ("BLEG") analysis. |
Under the Alliance, Evrim and Newmont will jointly conduct exploration efforts in the study areas through a technical committee comprised of two members from each company. Evrim and Newmont will fund the exploration program to a maximum of $250,000 US each. Projects that are acquired within the study areas will be 100% owned by Evrim, subject to a 1.5% Net Smelter Royalty ("NSR") and a five-year Right of First Offer ("ROFO") to Newmont.
If Evrim elects to option, joint-venture or sell any project (the "Offer") acquired within the study area, Newmont will have 90 days to exercise the ROFO and accept Evrim's Offer. If, at the end of the 90-day period Newmont has not accepted Evrim's Offer, then Evrim is free to make the Offer to third parties on the same terms as those offered to Newmont for a 180-day period. If Evrim consummates a transaction with a third party within the 180-day period, the ROFO will terminate, and Newmont will retain its 1.5% NSR on that project.
"The Evrim team is excited to pair its generative capabilities with Newmont's proprietary BLEG analysis in Mexico. Newmont's BLEG method has the advantage of being able to rapidly and reliably assess large tracts of ground, and is ideal for the 15,000 square kilometre study in the Trans Mexican Volcanic Belt. This Alliance also allows Evrim to diversify and strengthen its property portfolio using partner expertise and co-funded capital, a key component of the prospect generator business model. Further, Evrim's Alliance with Newmont represents the third major industry partner for the Company, including Inmet Mining Company and Vale Exploration (Canada) Inc." - Paddy Nicol, President and CEO of Evrim Resources Corp.
About the Trans Mexican Volcanic Belt
A major characteristic of the TMVB is the extensive Neogene to Quaternary volcanism, which includes the active Colima, and Popocatepetl stratovolcanoes. Examples of low and high sulphidation, porphyry, breccia related and hot springs types of mineralization all occur within the TMVB. Rocks of the TMVB have been deposited onto a complex basement that include southward extensions of the older Sierra Madre volcanic province, the Mesa Central, and the Sierra Madre Oriental fold and thrust belts. These older rocks are exposed locally in erosional or non-depositional windows within the volcanic rocks of the TMVB and can include gold and silver veins (Pachuca-Real del Monte silver-gold districts), VMS deposits, and intrusive-centered polymetallic districts. Younger rocks of the TMVB host active geothermal systems such as Azufres and Humeros, and numerous areas of high-level clay and silica alteration with associated epithermal mineralization (Ixtaca) that are also prospective exploration targets.
About Evrim Resources
Evrim is a mineral 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 internally developed projects.
Qualified Person Statement
The content of this release has been reviewed by Rory Kutluoglu, P.Geo., Vice President of Business Development for the Company. Mr. Kutluoglu 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
To find out more about Evrim Resources Corp., please contact Paddy Nicol, President or Lisa Stefan, Manager, Investor Relations 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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