KIRKLAND LAKE, ON, March 2 /CNW/ - GLR Resources Inc ("GLR") is pleased
to provide a progress update on the Goldfields feasibility, Bikerman
Engineering and Technology Associates Inc (BETA) has been retained to complete
the NI43-101 Feasibility study along with Dan Mackie and Associates (DMA).
BETA will build off of the work done by Wardrop and will utilize the existing
NI43-101 resource estimates.
The scope of the feasibility will be for a 5000 tpd facility and the
achievable schedule is to be completed by May 31, 2007.
"Since coming to GLR it has been my focus to complete the feasibility and
move toward construction", said COO John Orr. "This completion will be a
significant milestone in our path to reopening the Box mine."
"We are concurrently doing detailed design in excess of a feasibility
level along with DMA to allow procurement to proceed following a positive
result on the feasibility. We are aiming for being in operations in late
Bob Kasner, President and CEO noted that John has brought this project a
long way. Since joining our team under the most difficult of conditions
dealing with Wardrop. For me and others on our team a year of frustration is
now behind us and we will now move forward at a much faster pace. Investec
Bank has fully backed GLR on this decision.
John Orr, P. Eng., is the qualified person responsible for reviewing the
contents of this news release
Forward looking statements:
This news release contains certain forward-looking statements. These
forward-looking statements are subject to a variety of risks and uncertainties
beyond GLR's ability to control or predict, which could cause actual events or
results to differ materially from those anticipated in such forward-looking
statements. Although GLR believes that the assumptions inherent in the
forward- looking statements are reasonable, undue reliance should not be
placed on these forward-looking statements.
About GLR Resources:
GLR is a Canadian based junior mining and exploration company with
projects in Ontario, Quebec and Saskatchewan. The most advanced asset is the
Goldfields Project, which is located near Uranium City in Northern
Saskatchewan. The Goldfields Project consists of two open pittable gold
deposits, the Box and the Athona. The Box and Athona Gold deposits are past
producing mines and are currently moving towards production status. An
existing feasibility study is being updated to NI43-101 compliance.
"GLR" is a Canadian Based Exploration Company with several gold, base
metal and Platinum group metal properties within its portfolio with the most
advanced being the 100% owned Goldfields Project consisting of two open
pittable gold deposits. Please visit our website for details on all the
Company's properties and activities
(*)Disclaimer. certain matters discussed in this document may contain
forward looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995
For further information:
For further information: Robert J. Kasner, President & CEO, GLR
Resources Inc., Phone: (705) 567-5351, Fax: (705) 567-5557, E-Mail:
firstname.lastname@example.org, Website: www.glrresources.com; Malcom Bucholtz, Investor
Relations, GLR Resources Inc., Phone: (306) 539-2921, E-Mail: