TSX.V SYMBOL: N
VANCOUVER, Feb. 2 /CNW/ - Next Gen Metals Inc. (the "Company" or "Next Gen", (N:TSX.V) is pleased to announce that the Company's shares will be listed for
trading on the TSX Venture Exchange ("TSX.V") (Tier 2) at the market
open on February 2, 2011.
The Company requested that its shares be voluntarily delisted from the
Canadian National Stock Exchange ("CNSX ") and the CNSX has granted the
request effective the close of the market on February 7, 2011.
Next Gen's trading symbol continues as "N" on the TSX.V.
The directors and management of Next Gen believe that listing on the TSX
Venture Exchange is in the best interests of the shareholders and will
better enable the Company to raise additional capital to further
develop its projects and provide additional market liquidity.
About Next Gen Metals Inc.
Next Gen is a mineral exploration company with a primary focus on gold,
silver and base metals projects in North America. The Company is
presently developing the Silver Chalice Property, located in Alaska,
and the Fate Gold Project located in the Abitibi Greenstone Belt of
Northwest Québec, which is one of the most famous gold and base metals
regions in the world. In addition, the Company is aggressively
negotiating for additional advanced stage gold projects in North
Next Gen is the newest company to join the International Metals Group.
The Board of Directors is comprised in part with directors from the
International Metals Group ("IMG") (www.internationalmetalsgroup.com) who, along with management, have a combined 150 years or more of
experience in all aspects of managing public companies related to the
About the Fate Gold Project
The Fate Gold Project is located in the Abitibi Greenstone Belt of
Northwest Québec, one of the most famous gold and base metals regions
in the world. Portions of the area surrounding the Fate Gold Project
have thicker overburden which management believes has hindered past
exploration efforts. Recent advances in mining exploration technology
are allowing companies like Next Gen to make significant gains in
under-explored areas of Canada.
The Fate Gold Project covers approximately eight kilometres of the
western extension of this under-explored stratigraphy which is host to
the Destiny gold resource, where Pacific North West Capital Corp. (PFN:
TSX) and Alto Ventures Ltd. (ATV: TSX.V) have an active exploration
program. This stratigraphy and potential mineralization extends
approximately 20 km along the major Chicobi Deformation Fault Zone. The
Chicobi Deformation Fault Zone parallels the prolific Cadillac-Larder
(Val d'Or-Malartic [www.osisko.com], Bousquet, Kirkland Lake gold camps) and Destor-Porcupine (Timmins,
Holloway, Duparquet gold camps) Deformation Zones to the south as well
as the Casa Berardi (Aurizon, Joutel gold areas) Deformation Zone to
Next Gen completed a Mobile Metal Ion (MMI™) Geochemistry study on the
project in 2010 and it is waiting for the final results.
About the Silver Chalice Project
The Silver Chalice Project is located 345 air miles northwest of
Anchorage, and 330 air miles west southwest of Fairbanks, Alaska.
The volcanic caldera which hosts the Silver Chalice Project represents
excellent exploration targets with potential to host significant
epithermal gold and silver mineralization. Stream sediment samples
anomalous in gold and indicator minerals and pan concentrate samples
with anomalous gold and mercury strongly support the gold and silver
potential of the caldera and adjacent areas. There has been no past
lode mining on the project and there are no other active mining claims
in the project area.
On behalf of the Board of Directors
President & CEO
Next Gen Metals Inc.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
Disclaimer: This news release may contain certain "forward-looking
statements". All statements, other than statements of historical fact,
included herein 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 the
Company's expectations are disclosed in the Company's documents filed
from time to time with the British Columbia Securities Commission and
available at www.sedar.com or filed with the TSX Venture Exchange. Any forward-looking statements
are not guarantees of the Company's future performance and are subject
to risks and uncertainties that could cause actual results,
developments, and business decisions to differ materially from those
contemplated by any forward-looking statements. Except as required by
law, the Company undertakes no obligation to update any forward-looking
SOURCE Next Gen Metals Inc.
For further information:
Toll Free 1.800.667.1870