TORONTO, Oct. 16 /CNW Telbec/ - VVC EXPLORATION CORPORATION (VVC: TSX-V)
(V7S: FSE / BBSE) ("VVC" or the "Company") reports that further to the
Company's Notice of Default contained in its news release of June 4, 2007 the
following is the Company's bi-weekly default status report pursuant to
Appendix B of CSA Policy 57-301:
The Company is continuing to work with its auditors and its
solicitors, in discussion with the regulators, to complete the audit
and file the year-end financial statements by the end of October. The
Company is also late in filing its interim financial statements for
the quarters ending April 30 and July 31, 2007, which statements will
be completed after the year-end statements are completed and filed.
Any new developments will be announced on a timely basis and the
Company will continue to provide bi-weekly updates, as contemplated
by the OSC Policy.
The Company is continuing its exploration activities and its search for
new property acquisitions. The Company is also in excellent financial
situation with about $3.3 million in cash and liquid assets.
VVC Exploration Corporation is a Canadian exploration company with
projects in Canada. VVC also has an indirect participation in the Beaver Brook
Antimony Mine in Newfoundland, Canada. VVC is also aggressively searching for
other projects such as Gold, Base metal, Uranium and Antimony at various
stages of development. Visit our website at www.vvcexploration.com.
The TSXV has not reviewed and does not accept responsibility
for the adequacy or accuracy of this news release.
On Behalf of the board of Directors
Michel J. Lafrance, Secretary-Treasurer
For further information:
For further information: Charles Descary, Manager, Investor Relations,
(514) 631-2727, 1-877-558-2727, ext 222, email@example.com