TORONTO, June 28, 2011 /CNW/ - Further to its June 29, 2010 news
release, Temex Resources Corp. (TSXV: TME) (FWB: TQ1) ("Temex" or "the
Company") announces that it has issued an additional 2,000,000 common
shares in satisfaction of the second and final instalment of the
purchase price for Temex's acquisition of an undivided 60% interest in
the upper portion of the Hallnor Mine Property (the "Upper Hallnor Mine
Property") in Whitney Township, in accordance with its joint venture
agreement with Goldcorp Canada Ltd. ("Goldcorp") (as manager, and on
behalf, of the Porcupine Joint Venture (a joint venture between
Goldcorp Inc. and Goldcorp, operating as "Porcupine Gold Mines")).
1,020,000 common shares were issued to Goldcorp and 980,000 common
shares were issued to Goldcorp Inc. The common shares are subject to a
hold period expiring on October 28, 2011.
The Company also announces that it has issued an aggregate of 30,000
common shares due under an option agreement (the "Option Agreement"),
pursuant to which the Company has an option to acquire a 100% interest
in mining claims, known as the Croxall Property, located in Ogden,
Price and Thorneloe Townships, in the Porcupine Mining Division. The
securities issued are subject to a hold period expiring on October 15,
2011. The Option Agreement was previously announced by the Company on
June 25, 2009. An aggregate cash payment of $30,000 due under the
Option Agreement was paid directly to the optionors by Mill City Gold
Corp. ("Mill City") pursuant to an agreement announced September 22,
2010 under which Mill City has an option to acquire a 75% interest in
the Croxall Property from Temex.
A total of 2,359,807 warrants issued pursuant to a private placement
completed by the Company in May 2009 were exercised between March 1 and
May 26, 2011 for aggregate proceeds to the Company of $747,342.
About Temex Resources Corp.
Temex is a Canadian based exploration company focusing on its portfolio
of precious metals properties in northeastern Ontario, a world class
mining district. Temex is exploring its Timmins Whitney Property, in
partnership with Goldcorp, and expanding its NI 43-101 gold resource at
the Juby Gold Project (news release June 15, 2010; SEDAR July 30, 2010)
with an updated resource estimate planned for fall 2011. Temex also
has a NI 43-101 compliant resource for tailings piles on its Gowganda Silver Project (news release June 8, 2011).
Forward Looking Statements:
This news release includes certain "forward-looking statements". Such
forward-looking statements involve risks and uncertainties. The
results or events predicted in these forward-looking statements may differ
materially from actual results or events. The Company disclaims any
intent or obligation to update any forward-looking statement, whether
as a result of new information, future events or results or otherwise.
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.
SOURCE Temex Resources Corp.
For further information:
For more information please visit www.temexcorp.com or email: email@example.com or
phone: 416-862-2246 toll free: 866-373-6287