Shares outstanding: 287 Million
Symbol & Exchange: BN-TSXV
MONTREAL, Oct. 17 /CNW Telbec/ Blue Note Mining is pleased to announce
that it has selected Nyrstar (formerly Umicore and Zinifex) and Boliden as the
buyers for the majority of the unsold balance of its zinc concentrate.
"Blue Note is pleased to have reached agreements with Nyrstar and
Boliden; this means we have secured purchase agreements with three large zinc
refining companies and have these agreements in place for the life of the
Caribou and Restigouche mines," said John Martin, Blue Note's COO.
Concentrate purchase contracts with all of Blue Note's buyers have been
concluded. The key concentrate purchase terms are summarized as follows:
(1) zinc and lead concentrates with standard by product credits; (2) the
buyers are Nyrstar, Boliden and Xstrata; (3) a total volume of 85 percent of
the projected output of zinc has been sold; (4) the concentrate terms are
competitive for all concentrates.
Blue Note Mining is a Canadian mining company headquartered in Montreal
with operations in Bathurst, New Brunswick. The company's shares trade on the
TSX Venture Exchange under the symbol BN.
This news release contains discussion of items that may constitute
forward-looking statements within the meaning of securities laws that involve
risks and uncertainties. Although the company believes the expectations
reflected in such forward-looking statements are based on reasonable
assumptions, it can give no assurances that its expectations will be achieved.
Factors that could cause actual results to differ materially from expectations
include the effects of general economic conditions, actions by government
authorities, uncertainties associated with contract negotiations, additional
financing requirements, market acceptance of the Company's products and
competitive pressures. These factors and others are more fully discussed in
Company filings with Canadian securities regulatory authorities.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this news release
For further information:
For further information: Lorne Woods, Vice President Investor Relations,
Blue Note Mining, (800) 937-3095, email@example.com,