Sarissa Resources Inc (SRSR)

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Press Release Source: Sarissa Resources Inc.
Sarissa Resources Announces Memorandum of Understanding with Brunswick House and Chapleau Cree First Nations for Its Nemegosenda Niobium Project, Chapleau, Ontario
FOR IMMEDIATE RELEASE: Oakville, ON,August 13th2014 – Sarissa Resources Inc. (“Sarissa” [SRSR:OTCPK], or the “Company”)is pleased to release this information to shareholders relating to ongoing activities.
The Company, and its wholly-owned subsidiary, Nio-Star Corp. (“Nio-Star”), have entered into a Memorandum of Understanding ("MOU") with the Brunswick House First Nation and Chapleau Cree First Nation communities near Chapleau, Ontario. The MOU establishes a commitment by Sarissa and Nio-Star to develop an ongoing relationship with the two communities in the area of the Company's Nemegosenda Niobium Project, and provides these communities with an opportunity to participate in the benefits of the project through training, ongoing communication and business development. An Elders Committee will be created to provide advice to the Company on traditional values and local cultural and environmental matters during the exploration phase. The Company has also agreed to negotiate an Impact Benefit Agreement with the communities should the project proceed to production.
Included, amongst other things under the MOU, each First Nation is entitled to be issued 50,000 shares and 50,000 stock options by Sarissa, should Sarissa implement a stock option plan. Should Nio-Star become a separate public company, then each First nation shall also receive an equal number of shares of Nio-Star and 50,000 stock options of Nio-Star, upon Nio-Star implementing a stock option plan. Potential stock options granted under the MOU will vest over 18 months. These equity grants recognize the ongoing contributions of the First Nations communities and their interest in the Nemegosenda Niobium Project, and will also allow each community to directly participate in any potential successes of the Company. Chief Kevin Tangie of Brunswick House First Nation commented, "Brunswick House First Nation is pleased to enter into this agreement with Sarissa Resources along with the Chapleau Cree First Nation. Our region deserves the commitment and effort made through these partnership projects to provide a healthy, sustainable future for generations to come. By working together we can achieve this."
Scott Keevil, President of Nio-Star, states "The signing of the MOU is an important step forward in building a relationship based on mutual respect and cooperation with the First Nations communities in the region of our project. We look forward to working with the communities and receiving their input as we further delineate the advanced portion of the project in the D Zone, and explore the other prospective areas of the property.”
Safe Harbor
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Sarissa Resources Inc. and Nio-Star Corp., as well as members of their respective management, in addition to the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of
future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of financial results and positions, the ability to compete successfully and the ability to complete above-referenced exploration and testing, as well as business transactions. Neither Sarissa nor Nio-Star undertakes any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
About Sarissa Resources Inc.
Sarissa Resources Inc. is a junior exploration company with interests in properties in Northern Ontario, Canada. Sarissa and Nio-Star are specifically focused on the development of the Nemegosenda niobium project as well as the Shining Tree Resources Corp. gold projects.
FOR FURTHER INFORMATION contact:
[e-mail]
www.sarissaresources.com



from:
http://www.infomine.com/index/pr/PB475941.PDF