TORONTO, Dec. 14 /CNW/ - Conquest Resources Limited (TSX-V: "CQR") announces that it has been served with a statement of claim by the estate and family of a contractor who was working to construct an ice road at the King Bay joint venture property in late December 2007 when his snow vehicle broke through the ice resulting in the contractor's death.
The estate is claiming damages of $1.0 million against Conquest and its directors for negligence and breach of contract while the family is claiming $1.5 million under the Family Law Act of Ontario. Conquest asserts that it has no responsibility or liability for the accident and that the claim against Conquest and its directors is entirely unsupportable. Conquest intends to vigorously defend the action if it proceeds.
Conquest also intends to apply to add KBG Minerals Corporation, the registered owner of the King Bay property and its partner on the King Bay joint venture, as well as John Wahl, Chief Operating Officer of KBG and the project supervisor, as third parties and to seek indemnity from them to the extent allowed by law.
Conquest has, through a plea agreement, previously settled proceedings under the Ontario Occupational Health and Safety Act arising out of the same accident. (See Conquest Press Release dated July 30, 2009).
ABOUT THE COMPANY
Conquest is exploring several gold projects in Ontario. These include the Alexander Gold Project at Red Lake; the Aurora and Sunday Lake properties at Detour Lake; the King Bay Gold Project at Sturgeon Lake (60% interest); and the Smith Lake Gold Project at Missanabie.
There are currently 72,663,830 shares of Conquest issued and outstanding.
This news release may include certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization, resources and reserves, exploration results, and future plans and objectives of Conquest, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Conquest's expectations are exploration risks detailed herein and from time to time in the filings made by Conquest with securities regulators.
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 the accuracy of this release.
SOURCE CONQUEST RESOURCES LIMITED
For further information: For further information: Terence N. McKillen, President & CEO, (647) 728-4126; D. Brett Whitelaw, Vice-President, (604) 662-8633; John F. Kearney, Chairman, (416) 362-6686; Robert Kinloch, Director, (306) 343-5799; Email: firstname.lastname@example.org, URL: www.conquestresources.net