VANCOUVER, June 4, 2012 /CNW/ - Northcliff Resources Ltd. ("Northcliff")
(TSX: NCF) announces that its shareholders have unanimously approved
its acquisition ("Acquisition") of the remaining 30% interest in the
Sisson tungsten-molybdenum project ("Sisson Project") from its joint venture partner, Geodex Minerals Ltd. ("Geodex") (TSX.V:
GXM) at its Annual General Meeting held at the Company's offices on May
30, 2012. A copy of the voting results has been filed at www.sedar.com.
As reported in the Company's news release issued on April 18, 2012,
Geodex agreed to sell its 30% interest in the Sisson Project in New
Brunswick in consideration for 16,003,700 common shares of Northcliff,
$1 million in cash and the return to Geodex for cancellation of
3,333,333 Geodex common shares that Northcliff purchased in 2010.
Geodex has recently announced that June 28, 2012 and July 4, 2012 have
been established as the record and distribution dates, respectively,
for the distribution of the 16,003,700 common shares of Northcliff to
Geodex common shareholders.
The Acquisition remains subject to approval by special resolution of
Geodex shareholders at Geodex's special shareholders' meeting scheduled
for June 18, 2012. The Acquisition is also subject to final TSX and TSX
Venture Exchange approval.
The incumbent Board of Directors of Northcliff was also re-elected. In
addition, Scott Cousens, Director of Capital Markets at Hunter
Dickinson Inc., has been elected to the Board.
Northcliff is a mineral resource company associated with Hunter
Dickinson Inc. (HDI), and focused on progressing the feasibility-stage
Sisson Tungsten-Molybdenum Project located in New Brunswick, Canada, to
President & CEO
No regulatory authority accepts responsibility for the adequacy or
accuracy of this release.
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts that address completion of the
Acquisition, permitting, exploration drilling, exploitation activities
and events or developments that the company expects, are
forward-looking statements. Although the Company believes the
expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future
performance and actual results or developments may differ materially
from those in the forward-looking statements. Factors that could cause
actual results to differ materially from those in forward-looking
statements include uncertainty of shareholder support, the need for
judicial and regulatory approvals, market prices, exploitation and
exploration successes, continuity of mineralization, potential
environmental issues and liabilities associated with exploration,
development and mining activities, uncertainties related to the ability
to obtain necessary permits, licenses and title and delays due to third
party opposition, changes in government policies regarding mining and
natural resource exploration and exploitation, continued availability
of capital and financing, and general economic, market or business
conditions. Investors are cautioned that any such statements are not
guarantees of future performance and actual results or developments may
differ materially from those projected in the forward-looking
statements. For more information on the Company, investors should
review the Company's continuous disclosure filings that are available
SOURCE Northcliff Resources Ltd.
For further information:
For further details on Northcliff and the Sisson Project, please visit www.northcliffresources.com or contact Investor Services at (604) 684-6365 or within North America at 1-800-667-2114