VANCOUVER, July 19, 2016 /CNW/ - Eureka Resources Inc. ("Eureka" or the "Company") (TSXV: EUK) is pleased to announce it has listed its common shares for trading on the Frankfurt Stock Exchange under the symbol WKN: 875742 , Eureka's international securities identification number ("ISIN") is CA2986551018. The Frankfurt Stock Exchange is one of the world's largest trading centres for securities, it is the largest of Germany's seven stock exchanges.
This European listing will help to increase the company's trading liquidity and facilitate investment by European investors.
Since its incorporation in 1981, Vancouver-based Eureka has focused on the exploration and development of natural resource properties. Its flagship project is a 100% interest in the FG Property (formerly called Frasergold), consisting of 9393 hectares and located 100 kilometers east of Williams Lake, British Columbia. The property hosts a Measured and Indicated (376,000 ounces) gold resource at an average grade of 0.776 g/t gold, using a cut-off grade of 0.5 g/t, and an Inferred gold resource (634,900 ounces) at an average grade of 0.718 g/t gold, using a cut-off grade of 0.5 g/t. Mineralization has been outlined over a strike length of 3 kilometres, and has the potential for additional mineralization that could extend along an interpreted strike length of over 10 kilometres (for further information see "NI 43-101 Technical Report, Frasergold Exploration Project, Cariboo Mining Division, dated July 27, 2015" available on SEDAR or on the Company's website).
Gemini Lithium Project
Eureka recently entered into an agreement with Nevada Sunrise Gold Corporation ("Nevada Sunrise") (TSXV: NEV), which allowed Eureka to acquire a 50% participating interest in the Gemini Lithium Project ("Gemini" or the "Joint Venture"). The Gemini Lithium Property is located in the western Lida Valley, 10 kilometers east of the community of Lida, Esmeralda County, Nevada. Gemini currently consists of 247 placer claims totaling 4,940 acres (2,000 hectares). The Lida Valley contains two sub-basins that have the potential to host lithium-bearing brines similar to the proven lithium brine deposits and geological environment located in the Clayton Valley, 40 kilometers to the northwest. The only production of lithium in North America is from economic contents of lithium in brines in the Clayton Valley.
John R. Kerr, P.Eng., is the Company's designated Qualified Person for this news release within the meaning of NI 43-101 and has reviewed and approved the technical information in this news release.
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 news release
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the proposed timing of the permit submission for the Gemini Project and the business and operations of the Company. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board or regulatory approvals; those additional risks set out in the Company's public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
SOURCE Eureka Resources, Inc.
Image with caption: "Eureka Resources, Inc. (CNW Group/Eureka Resources, Inc.) (CNW Group/Eureka Resources, Inc.)". Image available at: http://photos.newswire.ca/images/download/20160719_C1252_PHOTO_EN_737791.jpg
For further information: Further information on Eureka can be found on the Company's website at www.eurekaresourcesinc.com and at www.sedar.com, or by contacting Michael Sweatman, President and CEO or Bob Ferguson by email at [email protected] or by telephone at (604) 449-2273.