KIRKLAND LAKE, ON, Nov. 29, 2012 /CNW/ - RJK Explorations Ltd. (RJX.A: TSX-V) ("RJK") wishes to announce that the Company has completed drilling for the 2012 season on the Blackwater East and West properties, located in the Blackwater Gold Camp approximately 100 km southwest of Vanderhoof, B.C. These two claim groups are contiguous to the east and to the west, respectively, of New Gold Inc.'s Blackwater bulk tonnage gold deposit currently shown at 9.6 million ounces gold (indicated and inferred) and 58.4 million ounces silver (indicated and inferred).
RJK has submitted samples from all the 2012 drilling for assay and will report the results upon receipt of all the assays.
RJK had initially applied to the TSX-V, and had received approval for an extension of the final property option cash payment due on December 1, 2012 for the Blackwater West claim group. Upon completion of the initial drill holes on Blackwater West, RJK has now decided to proceed with and pay the final property option cash payment prior to December 1, 2012.
RJK is pleased to announce that it has now made all of the final property option cash and share payments and completed all of the required exploration expenditures in order to acquire 100% ownership of both the Blackwater East and Blackwater West properties, leaving a 2% N.S.R. on both claim groups.
Forward Looking Statements: includes statements contained in this news release regarding discussions in respect of a potential acquisition and funding arrangement and RJK's expectations regarding same and the trading of its shares on the TSX Venture Exchange. This forward-looking information reflects the current expectations or beliefs of RJK based on information currently available to it. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of RJK to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, RJK. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to: the failure of RJK to enter into an agreement in respect of such arrangement; delays in obtaining or failure to obtain any required regulatory and/or shareholder approval; and other factors. Any forward-looking information speaks only as of the date on which it is made. Although RJK believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
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.
SOURCE: RJK Explorations Ltd.
For further information:
Glenn Kasner, President
Telephone: (705) 567-5351
Mobile: (705) 568-7567
James (604) 565-5967