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CALGARY, May 1, 2014 /CNW/ - Boxxer Gold Corp. (TSX Venture: BXX/OTC: BXXRF) ("Boxxer") announced today that, further to the news releases dated August 26, 2013, January 22, 2014 and March 14, 2014, Boxxer has issued 6,000,000 common shares to Musgrove Minerals Corp. ("Musgrove") pursuant to the Empire Mine Project Option Agreement, as amended, among Konnex Resources Inc. ("Konnex"), Boxxer and Musgrove. No further common shares are required to be used pursuant to the Empire Mine Option Agreement in order to earn the 100% interest in the leases in respect of the Empire Mine Project (the "100% Interest").
As stated in the March 14, 2014 news release, pursuant to the Empire Project Option Agreement, as amended, in order to exercise the option and earn the 100% Interest, Boxxer is required to make: (i) aggregate cash payments of $100,000 prior to January 1, 2017; (ii) a cash payment of $100,000 on completion of a NI 43-101 Pre-Feasibility Study on the Empire Mine Project; and (iii) an additional cash payment of $250,000 per each 100,000,000 lbs of copper reserves as determined by a NI 43-101 Feasibility Study on the Empire Mine Project.
About Boxxer Gold Corp.
Boxxer is a Canadian junior resource company involved in the exploration for large polymetallic copper deposits in North America. Boxxer's active projects include the Boss and Buena Vista copper projects in the state of Nevada, the Empire copper-gold-silver property in Idaho, the DOK copper-gold porphyry property in Northwest B.C., and the East Breccia copper-silver-molybdenum property in Ontario. Boxxer also has the Gordon Lake gold project located 110 kilometres north of Yellowknife NWT, Canada.
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 accuracy of this release.
Forward-Looking Information: This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. In particular, this press release contains forward-looking information in relation to the exercise of the option on the Empire Mine Project. There is no certainty that Boxxer will exercise its option on the Empire Mine Project and there is no certainty that additional exploration on the Empire Mine Project will identify additional exploration targets or expand the dimensions of known zones of mineralization on the Empire Mine Project. For any forward-looking information given, Management has assumed that the results it has received and reviewed in relation to the Empire Mine Project and the interpretation thereof are reliable, and has applied geological and geophysical interpretation methodologies which are consistent with industry standards. Although Management has a reasonable basis for the conclusions drawn, actual results may differ materially from those currently anticipated in such forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of Boxxer to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; capital market conditions and market prices for securities and junior market securities; the actual results of Boxxer's business operations including its exploration operations; natural resource company market conditions and the market conditions of the natural resource industry in general; competition; changes in legislation, including environmental legislation, affecting the Boxxer; timing and availability of external financing on acceptable terms; and lack of qualified, skilled labour or loss of key individuals. A description of additional assumptions used to develop such forward-looking information and a description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in Boxxer's disclosure documents on the SEDAR website at www.sedar.com. Boxxer does not undertake to update any forward-looking information except in accordance with applicable securities laws.
SOURCE: Boxxer Gold Corp.
For further information: For more information on Boxxer please visit our website at www.boxxergold.com or contact Boxxer Gold Corp., Elmer B. Stewart, 403-264-4811, President and Chief Executive Officer, Email: [email protected], Jason Riley, 403-264-4811, Executive Vice-President, Email: [email protected]