Shares Issued: 46,329,480
KELOWNA, BC, July 9, 2012 /CNW/ - TIEX INC. (TSXV: TIX) ("Tiex" or the "Company") further to its January 23th, 2012 news release, is pleased to present an
update on the Company's bulk-tonnage sedimentary hosted gold, Gold
Creek Project in the Quesnel Terrane of central British Columbia.
Spanish Mountain Gold Ltd.'s news release of June 19, 2012, "Spanish
Mountain Gold Reports Final Assay Results from In-full Drilling Program
- 130.43m Grading 1.31 g/t Gold in Hole DH - 1130", shows an increase
in the grade of their Main Zone, which a combination of geology,
airborne and ground geophysics, geochemical, and drill assay results
performed by Tiex and Acrex Ventures Ltd., continues to support a
corridor of gold-bearing volcanic and sedimentary hosted vein rock that
extends from this Main Zone to and continues on as the 12 Km strike
length of our Company's Gold Creek Project. This area is showing great
promise as described in Tekoa Da Silva's article distributed to various
media including Stockhouse June 25,2012,"Jim Rogers appointed director
of Canadian gold Junior", http://bullmarketthinking.com/jim-rogers-and-dream-team-of-legendary-investors-team-up-on-gold-exploration-play-spanish-mountain-gold-ltd/. Tiex's property adjoins Spanish Mountain Gold Ltd.'s property on the
northwest by its Gold Creek Project and on the southeast by its Cedar
and Louis Project.
Ken Faulkner, President and C.E.O. comments, "Our Gold Creek project,
which surrounds on 3 sides the Spanish Mountain deposit, compares very
favorably to their geology to date. The geological work as well as
drill data we have completed over the last year, proves that point. We
also know, given the compilation of this data, that we can calculate a
preliminary reserve with a few more in-fill holes. This is an exciting
prospect, when you consider the type of individuals Spanish Mountain
has attracted to this area. It paints a picture and, I believe is a
testament to the fact that this area in the Cariboo has significant
importance, in very influential and respected circles."
Stephen Wetherup, B.Sc., P.Geo. is the Qualified Person as defined by
National Instrument 43-101 and is responsible for the technical
information provided in this release.
About Tiex Inc:
Tiex Inc. is a TSX Venture listed mineral exploration company focused on
the exploration of its 95,559 ha Cariboo Region properties, including
the 16,180 ha Bullion Property which is under an earn-in option/joint
venture agreement with Newmont Canada Corporation as announced in the
Company's April 27, 2011 news release. The properties are located in
the prolific Quesnel Terrane of central British Columbia, Canada and
are accessible by highway and logging roads year round. For more
information, you can visit the company's website at: www.tiexinc.com.
ON BEHALF OF THE BOARD OF DIRECTORS,
"Kenneth D. Faulkner"
President & CEO
Certain information regarding the Company including management's
assessment of future plans and operations, may constitute
forward-looking statements under applicable securities laws and
necessarily involve risks associated with mining exploration and
development, volatility of prices, currency fluctuations, imprecision
of resource estimates, environmental and permitting risks, access to
labour and services, competition from other companies and ability to
access sufficient capital. As a consequence, actual results may differ
materially from those anticipated in the forward-looking statements.
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 TIEX Inc.
For further information:
Ken D. Faulkner, President & CEO
Telephone: (250) 869 - 1607
Facsimile: (250) 868 - 0798