Toron Inc. to Focus on Eastern Canadian Mining Opportunities
MONTREAL, Nov. 7, 2011 /PRNewswire/ - Toron Inc. (OTCBB: TRON)- (The Company) is a mineral exploration company focusing its business on mining gold and other valuable metals in Quebec and Ontario, Canada. The Company will shift its attention towards gold mining and exploration projects in both Ontario and Quebec, which are both mineral-rich regions in the provinces of Canada.
The Company has decided to focus on these two provinces because of mining territories that the Company believes have great potential for gold and other precious metal discoveries. Additionally, with the price of gold over $1,700 per ounce, the opportunity for exploration in these areas becomes more lucrative. The Canadian Shield is a territory of land which includes the northern parts of both of these provinces and has historically produced some of the richest mineral ores in the world. The Canadian Shield contains minerals such as gold, rare earth, silver, copper, zinc, and nickel.
Both of these provinces have well-developed infrastructure, including modern roads and power grids extending to remote areas. Mining regulations are very friendly in this region and there are many tax advantages to exploration activity.
CEO Michael Whitehead recently said, "the territories of Northern Quebec and Northern Ontario are very valuable in that they are rich in resources, but have yet to be fully discovered to their full potential. Our Company has narrowed down our prospects to these areas, and we are confident that when the Company develops a full complement of geologists, we will discover and acquire properties of merit."
About Us
Toron Inc. (www.toroninc.com) prides itself on being a new mineral exploration company focusing its attention on projects involving gold and other valuable metals. Based in Quebec, one of Canada's richest mining provinces, Toron Inc., a Nevada Incorporated Company incorporated a wholly owned subsidiary, Toron Resources Inc., for the sole purpose of exploring mining projects in Canada, and specifically, in Quebec and Ontario.
Further information on the Company can be found at www.sec.gov and the company's website at www.toroninc.com
Safe Harbor Statement
Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, but are not limited to, statements with respect to acquisitions of exploration properties in Quebec and Ontario as well as any results of exploration activities by Toron. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the timing and completion of contemplated financings, the actual use of proceeds, receipt of regulatory approvals and the timing and success of future exploration development and production activities. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: (1) the proposed exploration and development of its mineral projects will proceed as planned; (2) market fundamentals will result in sustained metals and minerals prices and (3) any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation. These statements are based on our current plans and expectations and involve risks and uncertainties that could cause actual future events or results to be different than those described in or implied by such forward-looking statements. These risks and uncertainties include those relating to: lack of operating history, transitioning from a development company to an operating company, difficulties in distinguishing Toron Inc. resources and ability to mine Toron Inc. resources, market acceptance of our products and services; operational difficulties relating to combining acquired companies and businesses; our ability to form and maintain mutually beneficial relationships with customers and strategic partners; changes in economic, political or regulatory conditions or other trends affecting the mining sectors, and our ability to attract and retain qualified personnel. Further information about these matters can be found in our Securities and Exchange Commission filings. We expressly disclaim any intent or obligation to update these forward-looking statements.
SOURCE Toron Inc.
Source: PR Newswire (November 7, 2011 - 1:28 PM EST)
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