Listing (TSXV = LO Frankfurt = LE2A)
ROUYN-NORANDA, QC, Oct. 14 /CNW Telbec/ - LOUNOR EXPLORATION INC. is
pleased to announce the acquisition of 24 Mineral Claims in Harker Township in
the Cochrane mining distinct, province of Ontario.
Lounor will pay $125,000, issue 600,000 common shares and complete a
$1,400,000 work commitment over a three-year period to acquire a 50% interest
in the property. The sellers have retained a 3% NSR in the property. The
acquisition is subject to regulatory approval.
The Tiger Gold Property is contiguous to the Harker Gold Project on which
a drilling program is currently being conducted. The Cryderman Fault crosses
the Harker Property and continues onto the Tiger Gold Property. Several
historical gold intercepts have been noted and were obtained during the 1980's
by Perrex Gold Exploration. Perrex's best hole had gold values of
0.648 oz/t Au over 5.0 feet (Hole PX-88-34).
The Harker Gold Property and the Tiger Gold Property are located 5 km
south of the Destor Porcupine Fault Zone (DPFZ) which has hosted many
important gold mines in the Timmins - Porcupine Gold camp
((greater than)65 millions ounces of gold produced). The Holt McDermot Mine
(1.3 million ounces) and the Harker Halloway Mine (1.4 million ounces) are
located on the DPFZ about 5 km north - northeast of the property.
About Lounor Exploration
Lounor Exploration Inc. is a Canadian-based natural resources company
with mineral holdings in Ontario and Quebec and is currently focused on
exploration in the Abitibi Greenstone Belt. The belt is found in both
provinces of Ontario and Quebec with approximately 33% in Ontario and 67% in
Quebec. The Belt has produced in excess of 180,000,000 ounces of gold,
450,000,000 tonnes of base metal ore over the last 100 years. The Company is
headquartered in Quebec.
LOUNOR EXPLORATION INC. is a publicly traded company on the TSX-Venture
(TSXV-LO) and on the Frankfurt Exchange (LE2A).
This press release was prepared by LOUNOR EXPLORATION INC. and the TSX
Venture has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
For further information:
For further information: Mr. Gilles Fiset, President, 1-800-388-8668,
(819) 797-8668, Fax: (819) 797-6050, email@example.com; Leo Patry,
Investor Relations, 1-888-974-1276, (514) 951-0250, firstname.lastname@example.org;