SAINTE-ELISABETH, QC, April 16, 2012 /CNW Telbec/ - Mr Jean-Jacques Treyvaud, President and CEO of Murray Brook Minerals Inc., is pleased to announce that Votorantim Metals Canada Inc., a subsidiary of Votorantim Metais, the Brazilian privately owned Votorantim Group, has notified Murray Brook Minerals Inc. of the exercise of its 50% earned interest in the Murray Brook Property (Murray Brook Mining Lease 252 and Camel Back claims Property), according to the Option and Joint Venture Agreement signed on November 1st 2010.
In doing so, Votorantim is now the vested owner of a 50% undivided and beneficial interest in the Murray Brook Property. For the purpose of the Joint Venture Agreement, April 1st 2012 will serve as the date of formation of the said Joint Venture.
Votorantim also provided notice of its election to exercise its right, according to the Agreement, to acquire an additional 20% undivided and beneficial interest in the Property.
Votorantim Metals Canada Inc., El Nino Ventures Inc. and Xstrata Canada Corporation entered into an Option and Joint Venture Agreement on March 24th 2010, which was amended on September 30th, 2010.
On January 3rd 2011, Votorantim and El Nino entered into a Participation Agreement in connection with the Murray Brook Property on a 50/50 expenditure basis. By paying 50 per cent of the said Participation Agreement expenditures, El Nino has acquired a 25 per cent undivided legal and beneficial interest in the Murray Brook Property.
Murray Brook Minerals Inc. is extremely pleased by the exploration work done so far by Votorantim Metals Canada Inc., the operator of the Murray Brook Property, and looks forward to a continuing close collaboration with Votorantim Metals Canada Inc. in the best interests of both companies.
MURRAY BROOK MINERALS INC.
Murray Brook Minerals Inc. is a privately owned mining exploration company, owner of the 5th largest deposit of the Bathurst Mining Camp, (New Brunswick, Canada) the Murray Brook Deposit, as well as of the Camel Back Property consisting of 215 claims.
The Company recently acquired the Legacy Copper Deposit, located in the Western part of the Bathurst Mining Camp. The Legacy Deposit consists of 4 blocks of claims, Nos. 6202, 6203, 6204 and 5443 in which the actual deposit is found.
For further information:
CEO Murray Brook Minerals Inc.
Tel. : 450 760 3877
Fax. : 450 756 0200
Email: [email protected]