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Azarga Metals Corp. (EUUNF)

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European Uranium Resources Ltd. is a dedicated European uranium exploration and development company that has built a portfolio of outstanding projects in Slovakia, Sweden and Finland at all stages of the exploration / development pipeline.

 

EUROPEAN URANIUM RESOURCES LTD. TO MERGE WITH PORTEX 
MINERALS INC. 
 
Vancouver, December 9, 2013 – European Uranium Resources Ltd. ("EUU") (TSXV: EUU) 
and Portex Minerals Inc. ("PAX") (CNSX: PAX) announce that they have entered into a 
binding Letter of Intent dated December 6, 2013 (the "Binding LOI") to merge (the "Merger") 
through a plan of arrangement under which EUU will acquire all of the outstanding common 
shares of PAX in exchange for EUU common shares. The merged company will be named 
European Minerals Inc. ("European Minerals" or the "merged company") and will be a 
Europe-focused company with a diverse, multi-commodity portfolio of exciting exploration 
and development projects. 
 
"European Minerals will be a Europe-focused company with a unique portfolio of exploration 
and development projects in base metals, precious metals and uranium", said Dorian L. 
(Dusty) Nicol, CEO of EUU. "The merged company's projects will have tremendous 
geologic potential for discovery, both by addition to existing resources and by discovery of 
new deposits." 
 
"Portex looks forward to continuing its exploration and development strategy with its new 
partners at EUU. We believe that the Merger will benefit the shareholders of both 
companies", commented Peter F. Chodos, President and CEO of Portex.

Business of the Merged Company 
 
EUU's flagship asset is currently the Kuriskova uranium project in Slovakia, which, 
according to a 43-101 compliant prefeasibility study completed in 2012, could be one of the 
lowest cost uranium producers in the world. 
 
Following the Merger, the merged company will become a Europe-focused company with a 
diverse, multi-commodity portfolio of exciting exploration and development projects, ranging 
from early-stage exploration to prefeasibility, focused on base metals, precious metals and 
uranium. It is anticipated that the merged company will focus on advancing the base metal 
properties in its portfolio while continuing to advance the Kuriskova uranium project through 
key aspects of environmental studies in anticipation of a feasibility study to be completed in 
future. 

The Principals of the Merged Company 
 
Pursuant to the Binding LOI, upon completion of the Merger the board of directors of 
European Minerals will consist of eight directors, four of which will be nominated by each of 
EUU and PAX. EUU's nominees will include Dorian (Dusty) Nicol. PAX's nominees will 
include Peter Chodos. The identities of the parties' other nominees are yet to be 
determined. The senior officers of EUU upon the completion of the Merger are expected to 
be: 
 
Peter F. Chodos, currently President and CEO of PAX Chairman 
Dorian L. (Dusty) Nicol, currently President and CEO of EUU Director, President and CEO 
Len Goldsmith, currently CFO of EUU Chief Financial Officer 
Doris Meyer, currently secretary of EUU Secretary
 
About PAX 
 
PAX, an Ontario incorporated company, is a Toronto-based mineral development company 
focused on the acquisition and development of base and precious metal properties in 
Europe. PAX currently has properties in Spain and Portugal and a large land position in 
Ireland and Northern Ireland. PAX's common shares are listed on the CNSX. 
 
PAX's principal assets are the Toral zinc-lead-silver project in northwestern Spain's zinc 
district and Lagoa Salgada zinc-lead-copper-gold-silver project in Portugal, in the Iberian 
Pyrite Belt. Both of these properties have 43-101 compliant resource estimates and 
geologic potential to expand significantly. PAX also has a large exploration land position in 
Northern Ireland and the Republic of Ireland, holding ground believed to be geologically  
prospective for base and precious metal deposits, including ground adjacent to Dalradian 
Resources' (TSX: DNA) Tyrone Project. 
 

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The whole announcement can be found here:  http://www.otcmarkets.com/otciq/ajax/showNewsReleaseDocumentById.pdf?id=875225890

Contact Info
  • Unit 1 - 15782 Marine Drive
  • White Rock, BC V4B 1E6
  • Canada

Website: http://www.euresources.com

  • Phone: 604-536-2711

Non US Stock Exchange Listing
EUU - TSX Venture Exchange - Qualified

 


 

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#32   What do y'all think? Possibly a nice deposit Damocavis 09/02/16 11:03:55 PM
#31   European Uranium Resources, Ltd. changed to Azarga Metals Corp. Renee 05/31/16 04:44:28 PM
#30   8 shares? Really??? ErnieBilco 07/31/14 09:27:43 PM
#29   Units sold at .09 and 1/2 warrant to ErnieBilco 04/16/14 07:46:26 PM
#28   EUROPEAN URANIUM CLOSES GRIT FINANCING ErnieBilco 03/08/14 12:06:43 PM
#27   European Uranium Resources Ltd. and Portex Minerals Inc. ErnieBilco 12/23/13 08:44:42 AM
#26   Oct 2013 Presentation link EUUNF ErnieBilco 12/22/13 06:16:13 PM
#25   Symbol:TSX-V: EUU (Tier 1) ErnieBilco 12/22/13 06:14:22 PM
#24   I'll do it Bilco - I hate to ErnieBilco 12/21/13 04:33:20 PM
#23   Ernie, you should take the mod spot and ErnieBilco 12/21/13 04:32:45 PM
#22   2 Boardmarks? Now its 3 - Just ErnieBilco 12/21/13 04:31:54 PM
#21   This is one I love at .01 but ErnieBilco 12/21/13 04:28:55 PM
#20   A merger is occurring and not a word ErnieBilco 12/21/13 04:28:20 PM
#19   Wow talk about a forgotten board. ErnieBilco 12/21/13 04:27:48 PM
#18   TVCFD changed to EUUNF: Renee 11/26/12 04:47:21 PM
#17   Tournigan Updates Progress on Prefeasibility Study for Kuriskova Penny Roger$ 08/09/11 10:23:24 AM
#16   I bought in at .28 and am feeling museman 01/16/11 03:30:27 PM
#15   Tournigan Drilling Adds High-Grade Uranium Mineralization at Kuriskova TraderRich 10/14/10 08:54:15 AM
#14   Tournigan Files Voluntary U.S. Deregistration TraderRich 04/30/10 08:35:49 AM
#13   Tournigan Completes Sale of Kremnica to Ortac TraderRich 04/15/10 04:35:48 PM
#12   Tournigan Amends Stock Option Plan TraderRich 03/26/10 05:01:20 PM
#11   Tournigan Increases Indicated Resource, Adds High Grade, at TraderRich 03/24/10 08:37:46 AM
#10   Just noticed one board mark. Guess I'm posting TraderRich 03/19/10 05:09:38 PM
#9   Got a partial fill today @ .21 TraderRich 03/19/10 05:01:26 PM
#8   Link to website with latest PR's... TraderRich 03/18/10 09:23:48 AM
#7   Seems to be building a nice long base. TraderRich 03/18/10 09:17:54 AM
#6   letter to shareholders from Dorian Nicol shows strong STOCKSEEKER1 11/03/08 02:20:44 PM
#5   significant exploration upside. imo STOCKSEEKER1 10/30/08 11:47:49 AM
#4   Recent drilling at Kuriskova continues to demonstrate continuity STOCKSEEKER1 10/30/08 11:43:21 AM
#3   updated ibox STOCKSEEKER1 10/28/08 02:07:08 PM
#2   Keep an out eye on this one. imo STOCKSEEKER1 10/28/08 02:05:39 PM
#1   Great fundamentals. imo STOCKSEEKER1 10/28/08 02:04:12 PM
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