/NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR
INTO THE UNITED STATES/
TSX Venture Exchange: NMD
VANCOUVER, March 1, 2013 /CNW/ - Nomad Venture Inc. ("Nomad") is pleased to announce that it has been granted an option to acquire
a 75% undivided interest in Nouveau Monde Mining Enterprises Inc. ("Nouveau Monde") (TSX-V:NOU) Mac's Lead property which is located about 60 km
north-east of the locality of Kuujjuarapik, Québec (the "Agreement").
The Mac's Lead property is recognized by the USGS as one of 38 known
Mississippi Valley type (MVT) deposits in the world. Nouveau Monde will
act as the operator for all exploration programs on the Mac's Lead
property during the time of the Agreement.
In order to acquire its 75% undivided interest in the Mac's Lead
property, Nomad must pay Nouveau Monde a total of $150,000 in cash,
issue 6.5M shares of Nomad to Nouveau Monde and incur up to $3,000,000
of exploration expenditures on the property.
The Mac's Lead property is composed of 59 active mining claims covering
2,863 in the NTS map sheets 33N11, 33N14 and 33N15. Shipments of galena
by the Hudson Bay Company to England have been recorded in the middle
and late parts of the 18th century from a small deposit located close to the Little Whale River in
the same geographical area as the property (Quebec Statutory Work
Report GM18170). Historical results (non NI 43-101 compliant) from two
trenches done in 1965 by the Shawinigan Mining and Smelter Company, as
reported in GM19016 Quebec Statutory Work Report were reported to grade
6.21% Pb, 1.28% Zn, 0.17 % Ag and 4.46% Pb. 0,38% Zn, 0.13% Ag,
During the third quarter of 2012, Nouveau Monde conducted a
reconnaissance program which had as an objective the confirmation of
the historical grades and to initiate the geological evaluation of the
property. In total, seven historical trenches were confirmed. These
trenches have a total strike length of three kilometers. A continuous
stromatolitic limestone formation with abundant visible sulphide
mineralization was observed by Nouveau-Monde geologists along the
entire prospective length. The three best sampled locations samples
returned: 17.65% Pb, 1.65% Zn, and 33 g/t Ag; 3.23% Pb, 4.37% Zn, and
11g/t Ag; and 1.56% Pb, 2.97% Zn and 10g/t Ag, respectively. All
results are available on the company web site (www.nouveaumonde.ca).
In light of these very encouraging results confirming the presence of
high-grade mineralization of lead, zinc and silver mineralization on
the property, a major ground geophysical campaign is planned for the
summer of 2013 in order to delineate the best quality drill targets.
The terms of the Agreement are summarized as follows:
$25,000 in cash upon signing of the Agreement.
500,000 common shares of Nomad to be issued to Nouveau Monde upon
approval of the Agreement by the TSX.
1,000,000 common shares of Nomad to be issued to Nouveau Monde within 30
days of completing a minimum financing of $300,000 (to be realized
before April 30th, 2013).
Within a period of 12 months from the date of the Agreement, Nomad must
have incurred cumulative exploration expenditures which are the higher
of (i) $300,000 or (ii) 50% of any financings realized by Nomad within
a period of 9 months from the date of the Agreement, up to a maximum of
$500,000 of exploration expenditures in the first year.
$50,000 in cash on the first anniversary of the date of the Agreement.
2,500,000 common shares of Nomad issued to Nouveau Monde on the first
anniversary of the date of the Agreement.
Within a period of 24 months from the date of the Agreement Nomad must
have incurred cumulative exploration expenditures of at least
$1,500,000 in connection with the exploration of the property.
$75,000 in cash on the second anniversary of the date of the Agreement.
Within a period of 36 months from the date of the Agreement Nomad must
have either (i) incurred cumulative exploration expenditures of at
least $3,000,000 in connection with the exploration of the Property or
(ii) incurred cumulative exploration expenditures of at least
$2,000,000 in connection with the exploration of the property and paid
in cash to Nouveau Monde the difference between $3,000,000 and the
actual exploration expenditures incurred by Nomad during such 36 month
This news release has been reviewed and approved by Eric Desaulniers,
MSc, PGeo, President and CEO for Nouveau Monde, qualified person under
National Instrument 43-101 regulations.
As previously announced, Nomad has requested and received TSX Venture
Exchange approval to extend the closing of the private placement
previously announced on Oct. 26, 2012. Nomad has been granted an
additional 30-day extension and will now schedule the closing for on or
before March 15, 2013.
On Nov. 5, 2012, Nomad closed the first tranche of the private
placement. Three million units were issued at a price of five cents per
unit for a total dollar amount of $150,000. The units consist of 2.15
million non-flow-through shares and 850,000 flow-through shares. Each
unit consists of one common share in the capital of the company and one
share purchase warrant. Each warrant will entitle the holder to buy one
common share of the company for a period of two years from the date of
issue. The exercise price of the warrants will be 10 cents for the
first 12-month term of the warrants and 15 cents for the remaining term
of the warrants.
The second tranche will be up to two million units for gross proceeds of
$100,000. The second tranche is anticipated to now close on or before
March 15, 2013. The company will pay a finder's fee in connection with
the second tranche of 10 per cent in cash plus 10 per cent in agent
warrants, where permitted by the TSX Venture Exchange. The second
tranche of the private placement is subject to final approval by the
TSX Venture Exchange. Nomad will use the proceeds from the second
tranche to meet its obligations under the option agreement with Nouveau
On behalf of the Board of Directors
Nomad Ventures Inc.
Neither the TSX-V nor its Regulation Services Provider (as that term is
defined in the policies of the TSX-V) has in no way passed upon the
merits of the proposed transaction and has neither approved nor
disapproved the contents of this press release.
Information set forth in this news release contains forward-looking
statements that are based on assumptions as of the date of this news
release. These statements reflect management's current estimates,
beliefs, intentions and expectations. They are not guarantees of
future performance. Nomad cautions that all forward looking statements
are inherently uncertain and that actual performance may be affected by
a number of material factors, many of which are beyond Nomad's control.
Such factors include, among other things: risks and uncertainties
relating to Nomad's ability to implement an exploration program on the
Mac Lead Property; complete any additional sales of securities under
the private placement and to obtain TSX Venture Exchange approval of
such additional sales. Accordingly, actual and future events,
conditions and results may differ materially from the estimates,
beliefs, intentions and expectations expressed or implied in the
forward looking information. Except as required under applicable
securities legislation, Nomad undertakes no obligation to publicly
update or revise forward-looking information.
This announcement is not for publication or distribution, directly or
indirectly, in or into the United States (including its territories and
possessions, any state of the United States and the District of
Columbia). This announcement is not an offer of securities for sale
into the United States. The securities referred to herein have not been
and will not be registered under the US Securities Act of 1933, as
amended, and may not be offered or sold in the United States, except
pursuant to an applicable exemption from registration. No public
offering of securities is being made in the United States.
SOURCE: Nomad Ventures Inc.
For further information:
Phone: 604 987-6012
Eric Desaulniers, MSc, P.Geo
President and Chief Executive Officer of Nouveau Monde