Nomad Ventures Inc. options a silver-lead-zinc property from Nouveau Monde Mining Enterprises

/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, respectively.

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 period.

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 Monde.

On behalf of the Board of Directors

"Brent Forgeron"

President, Director
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
Email:   info@nomadventures.ca
Website:  www.nomadventures.ca

Eric Desaulniers, MSc, P.Geo
President and Chief Executive Officer of Nouveau Monde
(819) 923-0333


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.