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TORONTO, Feb. 21, 2013 /CNW/ - Parkside Resources Corporation (TSX-V: PKS) ("Parkside Resources" or the "Company"), a gold exploration company active near Pickle Lake in northwest Ontario, is pleased to provide the following corporate update for its shareholders.
Parkside Resources is pleased to announce that the Company, the Mishkeegogamang First Nation, and the hunters and families of the Forester Lake property have agreed to cooperate in the spirit of goodwill and respect regarding the Company's Winter 2013 drill program. Parkside Resources is committed to building and maintaining a strong and positive working relationship with the First Nations communities as it plans current and future exploration work on the Forester Lake property.
Parkside Resources has engaged Vital Drilling Services to commence a 1,200 metre Winter 2013 drill program on its Forester Lake project. Nine drill targets have been identified after the compilation of data from 78 historic drill holes, ground magnetic survey data completed by the Company, and by reviewing the wealth of geological and structural knowledge learned from Goldcorp's Musselwhite Mine, 35km northwest of the property. The drill program will commence by the end of February 2013 and is planned to be a month in duration. Assay results are expected to be released in May 2013. Details of the historic drilling results and the upcoming Winter 2013 drill program can be reviewed in the NI43-101 Technical Report for the Forester Lake Property and the Parkside Resources Corporate Presentation, respectively, that are available on the Company's website at www.parksideresources.com.
Parkside Resources has commenced with the marketing of a $500,000 non-brokered private placement, comprised of issuing 4,000,000 Non-Flow-Through Units at $0.10 and 833,333 Flow-Through Units at $0.12. Both the Non-Flow-Through and Flow-Through Units come with a full Warrant with an exercise price of $0.20 for a 24 month period from the closing date of the private placement financing, which is projected to be on, or before, March 29, 2013.
Finally, Parkside Resources is pleased to announce James M. Macintosh has been appointed to its Board of Directors and to chair the Audit Committee. Mr. Macintosh is currently President and CEO of Continental Mining and Smelting Limited, an emerging North American gold and silver producer. Mr. Macintosh has over 26 years of experience in the mining industry and as a mining analyst. For the past 20 years he has held various executive and directorial positions with numerous public and private companies in Canada and the United States. Mr. Macintosh sits on the Board of Directors and chairs the Audit Committees of Carlisle Goldfields Limited (TSX:CGJ) and GTA Resources and Mining Inc. (TSXV:GTA). Mr. Macintosh is also a Director of Continental Mining and Smelting Limited, Atlas Precious Metals Inc. and CircuitMeter Inc. Mr. Macintosh graduated from Queen's University with a B.Sc. (Honours, Geological Sciences) and now sits on the Queen's University Geology Council.
About Parkside Resources Corporation
Parkside Resources Corporation is a Canadian based mineral exploration company dedicated to building shareholder value through focused exploration, discovery and development of high quality precious and base metal projects. The Company has entered into an Option and Joint Venture Agreement with Benton Resources Corporation to explore the Forester Lake Gold Property which is located approximately 100km north of Pickle Lake, Ontario and roughly 35km southeast of Goldcorp's Musselwhite Gold Mine. Incorporated in 2005 Parkside Resources Corporation is a reporting issuer in the provinces of British Columbia and Alberta, the common shares of which are listed for trading on the TSX Venture Exchange under the symbol TSX-V: PKS.
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 release.
Forward Looking and other Cautionary Information
This release includes certain statements that may be deemed "forward‐looking statements". All statements in this release, other than statements of historical facts that address exploration drilling, exploitation activities and other related events or developments are forward‐looking statements. Although the Company believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward looking statements. Factors that could cause actual results to differ materially from those in forward‐looking statements include market prices, exploration and exploitation successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward‐looking statements.
SOURCE: Parkside Resources Corporation
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