SUDBURY, ON, Sept. 26 /CNW/ - HTX Minerals Corp (a private company
incorporated in Ontario) ("HTX") is pleased to announce that it has entered
into a strategic alliance with Impala Platinum Holdings Limited ("Implats"),
the world's second largest primary platinum producer. The alliance will focus
on PGE-Nickel exploration in Ontario, Canada.
Under the terms of the strategic alliance agreement, Implats will fund
$900,000 towards HTX's Nickel-Copper-PGE Ontario project generation activities
over three years. During the term, Implats will retain the right to earn 50%
interest in any properties generated or acquired by funding acquisition costs,
paying HTX a further $250,000 and funding the initial $750,000 of exploration
on each project it wishes to pursue. Upon Implats earning a 50% interest, HTX
retains a one-time option on each JV property, to reduce its interest to 25%
which would be carried through to the completion of a Feasibility Study. The
strategic alliance and each joint venture arrangement completed are subject to
the necessary South African Reserve Bank approvals.
Commenting on the agreement with Implats, Scott McLean, President & CEO
of HTX, stated: "HTX is very excited to form a strong alliance with a leading
mining company like Implats. Implats brings a level of expertise and
experience to our exploration approach which complements the solid technical
expertise of HTX and I feel this will ultimately bring significant value to
About HTX Minerals Corp
HTX Minerals Corp is a privately held company that was incorporated in
late 2007. Its primary focus is the exploration for nickel, copper and
platinum group metals (PGM's) ore within North America. Currently it manages
projects near Timmins, Thunder Bay and Red Lake Ontario.
About Impala Platinum Holdings Limited
Impala Platinum Holdings Limited is one of the most significant producers
of platinum and platinum group metals globally with operations on the Bushveld
Complex in South Africa and the Great Dyke in Zimbabwe.
For further information:
For further information: Please visit the Company's website at
www.htxminerals.com, or contact: HTX Minerals Corp, Scott McLean, President &
CEO, Tel: (705) 669-1777, Email: email@example.com