Troymet Exploration Corp. News Release
Wednesday, October 20, 2010
Troymet Expands Land Position at Key
October 20, 2010 - Troymet Exploration Corp. (TSXV:TYE) ("Troymet" or the "Company") is pleased to report that it has entered into an agreement to acquire a 100% interest in four claims that immediately adjoin the south boundary of Troymet's 100% owned Key project, which is located 125 km southwest of Vanderhoof, British Columbia. The strategically located B&Y claims (tenure # 642003, 642004, 642023 and 642024), which are being acquired from a private owner, cover 972 hectares. Troymet now controls 8,854 hectares (21,880 acres) of highly prospective ground in the Key project.
Under the terms of the agreement, Troymet has paid the owner $2,500 on signing and will issue 350,000 common shares of Troymet upon TSX Venture Exchange approval. The owner will retain a 2% NSR on the claims, 1.5% of which may be purchased by Troymet at any time for $750,000. The acquisition is subject to TSX Venture Exchange approval.
The B&Y claims cover the extension, and junction, of the GN and East faults. These structures carry anomalous gold and silver mineralization on the Key project and are a primary target in Troymet's ongoing exploration program for the Key project.
Tracy Hurley, P.Geo., Vice President, Exploration and qualified person as defined by National Instrument 43-101 is responsible for the technical information provided in this release.
TROYMET EXPLORATION CORP.
Kieran Downes, Ph.D., P.Geo.
President, CEO & Director
For further information, contact:
Robert Birmingham
Investor Relations
Tel: 1-888-456-4952 or rbirmingham@troymet.com
