Conway Resources completes the acquisition of Belleterre Mining Resources
QUEBEC CITY, Aug. 29, 2012 /CNW Telbec/ - Management of Conway Resources Inc. ("Conway" or the "Company") (TSXV: CWY) is pleased to report that it is now the owner of mineral claims CM-315 and CM-395, which cover 100% of the Belleterre mine. The Company has fulfilled all its obligations as set out in the initial agreement by sending the final block of shares to the shareholders of Belleterre Mining Resources Inc.
Management also reports that only five things remain to be done to fully secure the mine. Classification and sorting of all the core from previous work will be completed by mid-September.
A building to house workers for the future ramp was installed on the property in mid-August.
Laurent Beaudoin, President and Chief Executive Officer of Conway, said that: "We are confident that we will enter the final phase to begin dewatering, and the previously announced drilling program is already underway."
About Conway Resources Inc.
Conway is a mining exploration corporation that owns four gold properties and one rare metals property in Quebec. Its main asset is the Belleterre Mine property. The property is the site of the old Belleterre mine, which produced over 800,000 ounces of gold between 1936 and 1959. A total of 2.18 million tonnes of ore at an average grade of 10.73 g/t Au were extracted from the mine, primarily from vein 12 (95% of production). Earlier reports indicate the presence of at least 21 veins on the property.
More information can be found on Conway's website at www.ressources-conway.com.
This press release contains certain forward-looking statements that might involve uncertainty, time frames, and/or known and unknown risks beyond the Corporation's control. The Corporation's actual results, performance and achievements may differ materially from the results, performance and achievements implied by such forward-looking statements.
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