SB: TSX Venture Exchange
Issued: 65,145,111 shares
CALGARY, April 12, 2012 /CNW/ - Stratabound Minerals Corp. (TSXV: SB) is pleased to announce completion of a significant stage in moving its Captain North Extension (CNE) lead-zinc-silver-copper-gold deposit towards production. The Environmental Impact Assessment registration documents have now been completed and filed with the Director of the Sustainable Development, Planning and Impact Evaluation Branch of New Brunswick's Department of Environment. The Department of Environment will determine within 30 days whether any additional information is required to complete its evaluation.
The company is now proceeding with the public engagement phase, which involves dissemination of information about the project through public access to the filed documents, and discussions with potentially affected local stakeholders through public meetings and presentations. Meetings will also be held with First Nation Communities to determine whether any negative impacts might occur if the project goes ahead, and if so, what may be done in order to mitigate any such potential impact. This public engagement phase will be completed within sixty days.
The company will react quickly if any action is required, with the aim of reaching a production decision by mid-summer. If all goes well a production decision will be made as early as August 2012.
Exploration will begin after spring break-up on the optioned Commander property which is adjacent to the northern boundary of Stratabound's CNE and Captain claims. Stratabound will proceed with a gravity survey covering separate copper-gold-cobalt and lead-zinc-silver occurrences prior to drilling.
In a separate development, Stratabound has entered into an agreement with Canuck Exploration Ltd., a private company based in La Motte, Québec. The agreement allows Canuck to earn a 25% interest in Stratabound's 19-claim Gemini Hills, Québec gold prospect by drill-testing a prominent geophysical anomaly (induced polarization and magnetic) flanking several gold occurrences and soil anomalies detected in 2010 and 2011 exploration programs. Canuck expects to drill in May.
About Stratabound Minerals Corp.
Stratabound is a Canadian natural resource company exploring and developing its gold and base metal properties in eastern Canada. It is currently focused on bringing the CNE deposit into production, while continuing to build a resource base in the infrastructure-rich, world-class Bathurst Mining District of northern New Brunswick.
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.
WARNING: the Company relies upon litigation protection for "forward looking" statements. The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.
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