Murgor Resources announces extension of warrants
KINGSTON, ON, April 20 /CNW/ - Murgor Resources Inc. (TSX-V : MGR) announces that it will extend the expiry date of 2,631,578 outstanding common share purchase warrants by one year, from May 5, 2010 to May 5, 2011. The warrants were issued by Murgor in May 2008 by way of private placement. Each warrant entitles the holder to acquire one common share of Murgor at a price of $0.60.
About Murgor Resources
Murgor Resources Inc. is a mineral exploration and development company focused on copper, gold and zinc in Canada. The company owns a 100% interest in two deposits, adjacent to the Snow Lake and Flin Flon mining districts of Manitoba, and is earning a 100% interest in the Fon zinc deposit in Saskatchewan. The deposits were initially optioned from HudBay Minerals Inc. (TSX:HBM). Murgor is also exploring an exceptional portfolio of gold properties in proven mining districts of Canada such as the Red Lake Gold District of Ontario and the Chibougamau Gold-Copper District of Quebec.
The table below shows the total 43-101 compliant resource for Murgor's Hudvam, Wim and Fon deposits.
INDICATED RESOURCE
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Tonnage Grade*
Project ---------------------------------------------------------------
Metric Au Ag
Tonnes Cu % Zn% g/t g/t
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Hudvam 854,076 1.22 1.78 3.82 13.84
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Wim 2,776,787 1.94 0.3 1.88 7.53
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TOTAL 3,630,863
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INDICATED RESOURCE
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Metal Content
Project ---------------------------------------------------
Cu Zn Au Ag
(lb) (lb) (oz) (oz)
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Hudvam 23,007,640 33,541,359 104,930 379,928
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Wim 118,762,524 18,365,339 167,838 672,246
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TOTAL 141,770,164 51,906,698 272,768 1,052,174
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INFERRED RESOURCE
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Tonnage Grade*
Project ---------------------------------------------------------------
Metric Au Ag
Tonnes Cu % Zn% g/t g/t
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Hudvam 502,901 0.79 1.33 3.25 6.96
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Wim 445,999 1.12 0.43 2.11 5.06
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Fon 4,543,126 0.25 3.73 - 10.88
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TOTAL 5,492,026
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INFERRED RESOURCE
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Metal Content
Project ---------------------------------------------------
Cu Zn Au Ag
(lb) (lb) (oz) (oz)
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Hudvam 8,758,802 14,745,831 52,548 112,534
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Wim 11,012,528 4,228,024 30,256 72,556
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Fon 25,039,440 373,588,445 - 1,752,761
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TOTAL 44,810,770 392,562,301 82,804 1,937,851
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* Based on a 2.0% copper equivalent cut-off grade at Wim and Hudvam,
and a 1.0% Zn cut-off grade at Fon
For statement of resources, see Murgor Press Releases: Feb. 20, 2007 for
Fon; Aug. 28, 2008 for Hudvam and Sept. 09, 2008 for Wim.
Andre C. Tessier, P.Geo., P.Eng. and President & CEO for Murgor Resources Inc. is a Qualified Person as defined by NI-43-101 and is responsible for this press release.
This news release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization, resources and reserves, exploration results, and future plans and objectives of Murgor, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Murgor's expectations are exploration risks detailed herein and from time to time in the filings made by Murgor with securities regulators.
Neither 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.
For further information: PLEASE VISIT MURGOR'S WEBSITE AT WWW.MURGOR.COM OR CONTACT: André C. Tessier, President & CEO, MURGOR RESOURCES INC., Tel: (613) 546-7503 or 1-888-891-3330, E-mail: [email protected], Web site: www.murgor.com
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