(DNI: TSX-Ven, DG7: Frankfurt)
TORONTO, June 4 /CNW/ - Dumont Nickel Inc. (DNI:TSX-Ven, DG7:FSE) is
pleased to announce that it has expanded its Antelope Gold Property, Nevada,
to an approximately 2.5 square mile contiguous land position by staking 46
additional lode claims held 100% by DUMONT. The expansion doubles Dumont's
previous land position over the mile long gold zone identified on surface and
secures its projected extensions.
The Antelope Property is located in Eastern Nevada, within 50 miles of
the Alligator Ridge, Bald Mountain, Golden Butte, and Kinsley mines, all of
which produced gold during the 1980's and 1990's. The Property is in an
under-explored part of Nevada, in a prospective geologic setting with many
favourable analogies to other gold producing Nevada districts.
Dumont's exploration work has so far identified a 1000ft x 6000ft belt of
anomalous gold across the Property. This belt is reinforced by near-surface
gold intercepts reported in historic drilling ranging 1g/t-2g/t gold. Historic
work includes drilling from an implied mineralized volume over a 400ft x
1120ft area, typically reporting 0.5g/t-0.7g/t gold from 20ft-40ft intercepts,
with higher grades upward to 4.9g/t. This volume remains open.
Gold occurrences across the Property are hosted predominantly in
jasperoids and in siliceous sections in Pilot Shale, a known host to many
Nevada gold deposits. Some of the field evidence suggests a high level
epithermal setting with good depth potential. Intentions are to continue to
advance the Property toward drilling to advance historic discoveries toward
resources and to test certain prospective areas previously untested.
Dumont is also pleased to announce that Mr.Raymond E. Mitchell, CA, has
joined Dumont's board of directors. He brings over 30 years of experience as a
chartered accountant and senior executive to DUMONT's management team.
Mr.Mitchell has previously served as senior vice-president and chief financial
officer for the Canadian Depository for Securities (CDS). During his 24 year
career with CDS, he undertook a variety of senior roles, including executive
oversight of the development of SEDAR. Prior to CDS, Mr.Mitchell was
responsible for a variety of financial functions for a large Canadian trust
company. He currently serves as CFO of Latin American Minerals ((LAT:TSX-Ven).
Shahe F. Sabag, Dumont's President and CEO, stated, "Ray is an important
addition to Dumont's management team as we move forward. We are very pleased
to welcome him to the board."
Dumont has granted stock options, pursuant to the Company's Stock Option
Plan, to two directors, to allow for the purchase of up to an aggregate of
400,000 shares at a price of 15 cents per share for up to five years.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Dumont is a mineral exploration company with operations in Ontario, Utah
and Nevada. DUMONT is Operator of the Utah Joint Venture which controls
approximately 18 square miles of mineral properties across the historic
Clifton-Gold Hill gold-silver-copper Mining District. DUMONT holds one of the
most prospective land positions in the Attawapiskat diamond area in the James
Bay Lowlands, Ontario, with a carried interest in the Dumont Joint Venture
exploring the area through Metalex Ventures Limited and others under the
direction of Mr.Charles Fipke. All of DUMONT's properties are being actively
explored either directly by Dumont or via joint venture.
DNI - TSX Venture
DG7 - Frankfurt
For further information:
For further information: Dumont Nickel Inc. - Shahe Sabag, President &
CEO, or Denis Clement, Chairman, (416) 595-1195, email firstname.lastname@example.org,
also visit www.dumontnickel.com