Hinterland Metals Inc. and Stakeholder Gold Corp. Complete Spin-out of Yukon Assets
Monday, June 20, 2011
VAL D'OR, QUEBEC--(Marketwire - June 20, 2011) - NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES
Hinterland Metals Inc. (TSX VENTURE:HMI) ("Hinterland") and Stakeholder Gold Corp. ("Stakeholder") are pleased to announce the closing of the previously announced arrangement (the "Arrangement") (see press releases of Hinterland dated January 20, April 4 and June 8, 2011).
On June 13, 2011, following the approval of the Arrangement by Hinterland's shareholders at its annual and special meeting held on June 7, 2011, Hinterland obtained the final order from the Superior Court of Québec (the "Final Order") to complete the Arrangement under Section 192 of the Canada Business Corporations Act. Concurrently with the issuance of the Final Order, Stakeholder completed its private placement of subscription receipts (the "Private Placement") for gross proceeds of $825,000. For more information on the Arrangement, Stakeholder and the Private Placement, see Hinterland's information circular dated May 4, 2011 available on SEDAR at www.sedar.com.
On June 20, 2011, the TSX Venture Exchange issued its final bulletin relating to the listing of Stakeholder. Therefore, the common shares of Stakeholder will commence trading on the TSX Venture Exchange at 9:30 a.m. (Eastern Time) on June 21, 2011, under the symbol "SRC". As a result of the Arrangement, the common shares of Hinterland (on a consolidated basis) will also commence trading on the same day and continue to trade under the symbol "HMI".
Stakeholder's main asset is the 200-claim (4140ha) Ballarat property located approximately 100km due south of Dawson City in the White Gold district of Yukon. Approximately 15km due north of Ballarat is Kinross's White Gold deposit and Kaminak's Coffe project is located about 20km southwest of Ballarat. In 2009 and 2010 Hinterland completed detailed deep auger-type soil sampling, prospecting and mechanical trenching. Two very strong gold-in-soil anomalies were outlined. Each anomaly appears to trend east-west for a minimum distance of 1000m on the property (Hinterland Press Release - October 28, 2010).
Hinterland will be primarily focused on the 306-claim (17,826ha) Kipawa rare earth element ("REE") property located 140km south of Rouyn-Noranda, Quebec and 90km north-east of North Bay, Ontario. The Kipawa area has long been known for its REE-zircon-yttrium potential. The Kipawa property is situated approximately 30km due west of the Zeus REE-zircon-yttrium deposit held by Matamec Explorations Inc. In 2010 Hinterland identified significant REE-in-soil anomalies on its Atwater and Lachine claim blocks (Hinterland News Release - April 20, 2010).
"By spinning out the Yukon gold assets into Stakeholder, Hinterland will be able to concentrate on Quebec and Ontario. We now have two well structured, well focused, prospective exploration companies," commented Mark Fekete, President and CEO.
Mark Fekete, P.Geo, is the designated "qualified person" as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects responsible for the technical content of this release.
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Forward-Looking Statements Disclaimer
Some statements in this release may contain forward-looking information. All statements, other than of historical fact, that address activities, events or developments that the Hinterland and Stakeholder believe, expect or anticipates will or may occur in the future (including, without limitation, statements regarding potential mineralization) are forward-looking statements; this includes the completion of the Arrangement. Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond Hinterland's or Stakeholder's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with expectations, changes in world gold markets or markets for other commodities, and other risks disclosed in Hinterland's or Stakeholder's public disclosure record on file with the relevant securities regulatory authorities. Any forward-looking statement speaks only as of the date on which it is made and except as may be required by applicable securities laws, Hinterland and Stakeholder disclaim any intent or obligation to update any forward-looking statement.
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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. http://www.theglobeandmail.com/globe-investor/news-sources/?date=20110620&archive=ccnm&slug=201106200706592001