VANCOUVER, June 24, 2013 /CNW/ - Prima Fluorspar Corp. (TSX-V: PF) ("Prima" or the "Company") is pleased to announce that it has entered into an agreement with FronTier Merchant Capital Group ("FronTier") to provide financial market consulting services to the Company as of June 15, 2013.
ABOUT FRONTIER MERCHANT CAPITAL GROUP
FronTier is a merchant capital group that consults with its clients to determine their most pressing corporate issues and help them reach their goals using strong industry contacts and unique services. As a committed partner, FronTier Merchant Capital Group will work with Prima to define an incentive program which is aligned with reaching its both long and short term corporate goals. FronTier will assist Prima in developing quality company information and project updates to support potential investors in making more educated investment decisions. FronTier only introduces Prima to those institutional network companies that meet Prima's criterion based on its proprietary profiling methods.
FronTier will receive $5,000 per month for twelve months. The contract may be terminated by either party with 10 days' notice after twelve months. FronTier will also receive 250,000 incentive options at an exercise price of $0.10 valid for 5 years.
ABOUT PRIMA FLUORSPAR
Prima is delineating their historic Liard Fluorspar Resource*, easily accessible on 22,500 ha (55,000 acres) of 100%-owned claims in British Columbia.
HIGHLIGHTS ABOUT PRIMA'S HISTORIC PROJECT AND RESOURCE*
- 3.2 million tonnes at an average grade of 32% fluorspar*
- Mineralization at surface, pit mining potential
- 30 km strike length
- Metallurgical Testing: 97% CaF2*
- 22,500 ha (55,000 acres), 100%-owned claims
- Easy access, on Alaska Highway in British Columbia
- No fluorspar mines in Canada or USA
- Primary uses: Refrigeration, aluminum and steel smelting, consumer products like Teflon® and GORE-TEX®, medicines, cement, and petroleum-based fuels
- $2.4 billion/annum market
- Major North American Purchasers: Chemical Companies - Dupont, Honeywell; Aluminum Producers: Rio Tinto Alcan (Kitimat)
For more information about Prima please visit: http://primafluorspar.com/
Please feel free to contact me at any time [email protected] or at 604-681-1568. I look forward to hearing from you.
ON BEHALF OF THE BOARD
PRIMA RESOURCES CORP.
President and CEO
Disclaimer for Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements in this news release include statements about the potential of the property to become a major fluorspar producer. Actual results may differ materially from those currently anticipated due to a number of factors beyond the Company's control. These risks and uncertainties include, among other things, the risks associated with being a mineral exploration company. These forward-looking statements are made as of the date of this news release and, except as required by applicable laws, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
Prima Fluorspar Corp. has not undertaken an independent verification to classify the historic resource estimate quoted from a Mineral Potential Compilation Report for the BC Department of Economic Development, written by Wright Engineers Limited and H.N. Halvorson Consultants Ltd., in January 17, 1975 as a current mineral resource. Neither has Prima independently verified the results of the previous exploration work. Therefore, the historical mineral resource should not be relied upon, but the issuer believes the information to be relevant and reasonably reliable. An unknown quantity of the 3.2 million tonnes is on mineral claims outside of the current Liard Fluorspar Property. However, based on the information available, the majority of the estimate is based on the deposits located on Prima's Liard Fluorspar Property. The key assumptions, parameters and methods of the resource estimate are unknown at this time. New deposit definition drilling is needed to develop a current resource estimate on the property. Prima believes that these historical mineral resources provide a conceptual indication of the potential of the property and are relevant to ongoing exploration.
SOURCE: Prima Fluorspar Corp
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President and CEO