Shares Listed: Toronto Stock Exchange - Ticker Symbol - ARZ
American Stock Exchange - Ticker Symbol - AZK
U.S. Registration: (File 001-31893)
VANCOUVER, Sept. 15 /CNW/ - Aurizon Mines Ltd. (TSX:ARZ; AMEX: AZK) is
pleased to announce that it has entered into a letter agreement with
Alexandria Minerals Corporation ("Alexandria") whereby Alexandria has granted
the Company an option to earn an undivided 100% interest in nineteen
(19) mineral claims, subject to an existing 2% net smelter return and a 2%
gross overriding receipts royalty on any diamonds extracted from the claims
(the "Alexandria Claims"). One half of the net smelter return royalty (i.e.
1%), may be purchased at any time for total cash payments of $2,000,000. The
Alexandria Claims are located adjacent to the Company's Joanna Project,
located along the Cadillac Break, in the Joannes Township, two kilometres
northeast of the Rouyn-Noranda airport and 20 kilometers east of
Rouyn-Noranda. A sketch is attached showing the outline of the properties. The
transaction is subject to all necessary corporate and regulatory approvals,
and the execution of a definitive agreement.
The option will require Aurizon to: make a cash payment of $200,000 and
issue shares of Aurizon having an aggregate market value of $200,000 within
thirty days of a definitive agreement; incur exploration expenditures of
$650,000 over a 24 month period; and make a final payment of Aurizon shares
having an aggregate market value of $1,600,000, by the 2nd anniversary of the
signed formal agreement.
The Alexandria Claims adjoin the eastern boundary of Aurizon's Joanna
Gold Project and straddle approximately four kilometres of the Cadillac Break.
Aurizon will initiate a 5,000 metre exploration diamond drilling program in
the fourth quarter, 2008, upon receipt of the necessary permits. The drilling
will be performed on the east extension of the Joanna deposit along the
Joanna Gold Project
Two rigs are currently active on the property, conducting infill drilling
within the East block's existing mineral resource contour and along its
Aurizon expects to receive an updated resource estimate on the Joanna
Gold Project by the end of the fourth quarter of 2008, and has appointed BBA
Inc. to prepare the pre-feasibility study, which is expected to be completed
in the second quarter 2009.
A preliminary assessment report prepared by BBA Inc. concluded that the
Company's Joanna Project is potentially feasible as a stand alone open-pit
mine operation and that additional work should be undertaken to advance the
project to the pre-feasibility stage. The preliminary assessment report
entitled "Technical Report NI43-101 Preliminary Assessment for the Joanna Gold
Project", dated May 22, 2008, is available under the Company's profile at
All other information previously released on the Joanna Gold Project is
available on the Aurizon website.
To view the sketch accompanying this release please click on the
following link: http://files.newswire.ca/734/Aurizon_Joanna_Project.pdf.
Aurizon is a gold producer with a growth strategy focused on developing
its existing projects in the Abitibi region of north-western Quebec, one of
the world's most favourable mining jurisdictions and prolific gold and base
metal regions, and by increasing its asset base through accretive
transactions. Aurizon shares trade on the Toronto Stock Exchange under the
symbol "ARZ" and on the American Stock Exchange under the symbol "AZK".
Additional information on Aurizon and its properties is available on Aurizon's
website at www.aurizon.com.
This News Release contains "forward-looking statements". These
forward-looking statements include, but are not limited to, statements
regarding estimated mineral resources, anticipated effect of recent drilling
results on the Joanna project, a preliminary assessment, timing of a
pre-feasibility study, and future work programs. Forward-looking statements
express, as at the date of this News Release, the Company's plans, estimates,
forecasts, projections, expectations, or beliefs as to future events or
results and the Company does not intend, and does not assume any obligation to
update these forward-looking statements. Forward-looking statements are based
on certain assumptions, including, with respect to mineral resource estimates,
the key assumptions and parameters on which such estimates are based, as set
out in the technical report for the property, and involve risks and
uncertainties, and there can be no assurance that such statements will prove
to be accurate. Therefore, actual results and future events could differ
materially from those anticipated in such statements. Factors that could cause
results or events to differ materially from current expectations expressed or
implied by the forward-looking statements, include, but are not limited to
conclusions of economic evaluations; changes in project parameters as plans
continue to be refined; future prices of gold; possible variations in ore
reserves, grade or recovery rates; failure of plant, equipment or processes to
operate as anticipated; accidents, labour disputes and other risks of the
mining industry; and other risks more fully described in Aurizon's Annual
Information Form filed with the Securities Commissions of the provinces of
British Columbia, Alberta, Manitoba, Ontario and Quebec, and in Aurizon's
Annual Report on Form 40-F filed with the United States Securities and
Exchange Commission. These documents are available on Sedar at www.sedar.com
and on Edgar at www.sec.gov.
CAUTIONARY NOTE TO US READERS
As a British Columbia corporation, the Company is subject to certain
rules and regulations issued by the British Columbia Securities Commission
("BC Securities Commission"). The Company is required to provide detailed
information regarding its properties including mineralization, drilling,
sampling and analysis, security of samples and mineral resource and mineral
reserve estimates. Further, the Company describes mineral resources associated
with its properties utilizing terminology such as "indicated" or "inferred"
which terms are recognized by Canadian regulations but are not recognized by
the United States Securities and Exchange Commission ("SEC").
Cautionary Note to U.S. Investors Regarding Mineral Resources
The SEC allows mining companies, in their filings with the SEC, to
disclose only those mineral deposits they can economically and legally extract
or produce. The Company may use certain terms in this document, such as
"mineral resources", "indicated mineral resources" and "inferred resources"
that are recognized and mandated by Canadian securities regulators but are not
recognized by the SEC.
This News Release may use the term "indicated" resources. U.S. readers
are cautioned that while that term is recognized and required by Canadian
regulations, the SEC does not recognize it. U.S. investors are cautioned not
to assume that any part or all of mineral deposits in this category will ever
be converted into mineral reserves.
This News Release may also use the term "inferred" resources. U.S.
readers are cautioned that while this term is recognized and required by
Canadian regulations, the SEC does not recognize it. "Inferred resources" have
a great amount of uncertainty as to their existence, and great uncertainty as
to their economic and legal feasibility. It cannot be assumed that all or any
part of an Inferred Mineral Resource will ever be upgraded to a higher
category. Under Canadian rules, estimates of Inferred Mineral Resources may
not form the basis of feasibility or pre-feasibility studies, except in rare
cases. U.S. investors are cautioned not to assume that part or all of an
inferred resource exists, or is economically or legally mineable.
For further information:
For further information: AURIZON MINES LTD., David Hall, President and
C.E.O., Telephone: (604) 687-6600, Toll Free: 1-888-411-GOLD, Fax: (604)
687-3932; Michel Gilbert, Vice President, Telephone: (819) 874-4511, Fax:
(819) 874-3391, Web Site: www.aurizon.com, Email: email@example.com; or Renmark
Financial Communications Inc., 2080 Rene-Levesque Blvd. West, Montreal, QC,
H3H 1R6, Barry Mire: firstname.lastname@example.org; Jen Power:
email@example.com, Tel: (514) 939-3989, Fax: (514) 939-3717