MONTREAL, Jan. 10, 2012 /CNW Telbec/ - Toron Inc. (OTCBB: TRON) - (The Company) is pleased to announce that on December 29, 2011 it has completed the acquisition of Block 3 of the Tiblemont Gold property which is made up of 20 claims with an area of 2,598 acres (1,051 hectares). The property is located in the prime gold mining and exploration region of Quebec. This purchase is the final purchase of the Mining Property Acquisition Agreement that was signed on August 23, 2011. The total Acquisition (made up of the 3 Blocks) is a total of 62 claims encompassing 8,164 acres (3,195 hectares).
The property is located in the South Eastern part of the Abitibi Greenstone Belt of the Canadian Shields, Superior Province. The Tiblemont property is located 40 kms north east of Val Dor Quebec. The Val Dor region has produced over 30 million ounces of gold since its discovery in the early 1900s. With the use of new technological tools there are thought to be many more potential discoveries in the region.
"The location is in the vicinity of several operating gold mines and mills and we are very pleased to acquire the final block, making up the Tiblemont Gold Property. This gives us an excellent land position which we hope to expand on through future land acquisitions, but in the meantime, for our 8,164 acres we are focusing on raising capital in order to begin exploration in this mineral rich area," states CEO Michael Whitehead.
To acquire the 20 claims the Company issued 600,000 shares of common stock and paid $25,000 cash consideration pursuant to the Acquisition Agreement.
Toron Inc. (www.toroninc.com) prides itself on being a new mineral exploration company focusing its attention on projects involving gold and other valuable metals. Based in Quebec, one of Canada's richest mining provinces, Toron Inc., a Nevada company incorporated a wholly owned subsidiary, Toron Resources Inc., for the sole purpose of exploring mining projects in Canada, and specifically, in Quebec and Ontario.
Safe Harbor Statement
Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, but are not limited to, statements with respect to the closing of the various stages of the Acquisition Agreement for the Tiblemont Claim as well as the potential results of exploration on such claims. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the timing and completion of contemplated financings, the actual use of proceeds, receipt of regulatory approvals and the timing and success of future exploration development and production activities. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: (1) the proposed exploration and development of its mineral projects will proceed as planned; (2) market fundamentals will result in sustained metals and minerals prices and (3) any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation. These statements are based on our current plans and expectations and involve risks and uncertainties that could cause actual future events or results to be different than those described in or implied by such forward-looking statements. These risks and uncertainties include those relating to: lack of operating history, transitioning from a development company to an operating company, difficulties in distinguishing Toron Inc. resources and ability to mine Toron Inc. resources, market acceptance of our products and services; operational difficulties relating to combining acquired companies and businesses; our ability to form and maintain mutually beneficial relationships with customers and strategic partners; changes in economic, political or regulatory conditions or other trends affecting the mining sectors, and our ability to attract and retain qualified personnel. Further information about these matters can be found in our Securities and Exchange Commission filings. We expressly disclaim any intent or obligation to update these forward-looking statements.
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