/NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER THE UNITED STATES NEWSWIRE SERVICES./
VANCOUVER, April 1, 2014 /CNW/ - Discovery Harbour Resources Corp (51% owner & Operator of the Wabassi Project, Northwestern Ontario) ("DHR" or the "Company") (TSX-V:DHR) is pleased that a framework agreement was entered on March 26, 2014, between the nine Matawa-member First Nations and the Province of Ontario to move forward with a negotiation process on a community-based regional approach to development in the Ring of Fire mineral province. This will include development of an access corridor which is planned to pass through the Wabassi Joint Venture's claim group located between Eabametoong and Marten Falls settlements.
"We are encouraged that the initial step has been taken between the two groups. We understand that numerous logistical and political challenges lie ahead, but that the infrastructure development to serve the northwestern Ontario First Nations communities and the Ring of Fire will stand as a monumental benefit to all of Ontario, once completed," said Frank Hegner, President and CEO of the Company. "We believe that perseverance and fairness in these negotiations with all concerned will ultimately result in a very positive outcome."
Discovery Harbour and its joint venture partners, Northern Shield Resources (TSX-V: NRN) and Great Lakes Resources, a private company, completed their fall, 2013 exploration program in December 2013. To-date, the group has discovered two polymetallic VMS (volcanogenic massive sulfide) systems and two shear zone-hosted gold systems with 32 exploration drill holes. Twenty-two untested priority massive sulfide targets remain to be explored (see Discovery Harbour press release dated October 11, 2013). www.sedar.com
Mr. Hegner comments further stating, "Importantly, the proposed route to the Ring of Fire bisects the property and the group's claims block contains approximately 11.8 kilometers of the proposed route. Although DHR may have other options for the development of these and future discoveries within Wabassi, the construction of the planned infrastructure will benefit our assets there tremendously."
Michael J. Senn, a licensed professional geologist, is the Qualified Person for Discovery Harbour Resources as described in National Instrument 43-101 and is responsible for the technical contents of this release.
ON BEHALF OF THE BOARD OF DISCOVERY HARBOUR RESOURCES CORP.
Frank D. (Bruno) Hegner
President, CEO, Corporate Secretary and Director
Disclaimer for Forward-Looking Information
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" occur. Forward-looking information in this press release includes, but is not limited to, statements regarding expectations of management regarding development in the Ring of Fire, negotiations between the Province of Ontario and the Matawa First Nations regarding development of the Ring of Fire, impact of the framework agreement between the Province of Ontario and the Matawa First Nations on the Company, its joint venture partners and their Wabassi Project, and the proposed route and infrastructure in the Ring of Fire. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including, without limitation, the risks that the negotiations between the Province of Ontario and the Matawa First Nations may not be competed as expected or at all, that the framework may not have a positive impact on the Company, its joint venture partners and their Wabassi Project, that the infrastructure in the Ring of Fire may not be developed as proposed or at all, that there may be other impediments to the development of infrastructure in and the development of the Ring of Fire that are not referenced in this news release or presently contemplated by the Company, and such other factors beyond the control of the Company. Except as required by law, the Company expressly disclaims any obligation, and does not intend, to update any forward-looking statements or forward-looking information in this news release.
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: Discovery Harbour Resources Corp.
For further information:
contact Kieran Magee by telephone at (604) 689-1799 or by fax at (604) 689-8199.