TORONTO, July 31, 2012 /CNW/ - Miocene Metals Limited (TSX-V: MII) (the "Company" or "Miocene Metals") today announced that SummitRG (the "Consultant") has been retained on a fixed term consulting basis to provide focused business and market development consulting services within the Chinese community including the maintenance of a Chinese language website to the Company.
Subject to TSX Venture Exchange approval, the consulting agreement to provide investor relations is for a fixed term of 12 months but may be cancelled upon 30 days notice in writing at any time after the first six months of service from the day of the agreement; and/or may be renewed following the completion of the initial term. George Yan, a principal of the Consultant will receive $1,000 per month in fees plus reimbursement of expenses. He also has been granted an option to purchase a total of 250,000 common shares in the capital of the Company, as presently constituted, exercisable at $0.10 per share pursuant to the Company's Stock Option Plan, and valid for a three-year term, subject to any regulatory and Board of Director approvals. The options shall vest in four (4) equal increments over the course of the first twelve (12) months of this Agreement, with each one-quarter of such options vesting at the end of each successive three (3) month period subsequent to the effective date of the Agreement.
Bruce Jago, President and CEO of Miocene stated "Miocene is pleased to have retained SummitRG as our Investor Relations representative focused on developing marketing and business activities within the Chinese community. It makes sense to have representation within the Chinese community as the world consumption of metals is so focused within China and the southeast Asian market."
About Miocene Metals Limited
Miocene Metals is focused on the exploration and development of six porphyry copper-gold-molybdenum properties in south-western British Columbia that occur within the Tertiary-aged Cascade Magmatic Arc. The Cascade Arc shares many geological characteristics with Tertiary-age porphyry belts that stretch the length of Chile and Peru in South America and hosts some of the world's largest porphyry copper-gold-molybdenum deposits. The Cascade Magmatic Arc hosts a number of significant porphyry Cu-Au and Mo deposits in Washington State, and Alaska (Glacier Peak and Margaret, and Quartz Hill respectively) but remains largely unexplored in British Columbia.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Miocene Metals Limited
For further information:
Please visit the Miocene Metal's website at www.miocenemetals.com, or contact:
Miocene Metals Limited
Bruce C. Jago, Ph.D., P.Geo
President and CEO of Miocene Metals Limited