VAL-D'OR, QC, Feb. 4 /CNW Telbec/ - X-Ore Resources Inc. (TSXV:XOR)
("X-Ore" or "the Company") announces that it has acquired an additional
4,300,000 shares of First Gold Exploration Inc. ("First Gold") representing
approximately 17.01% of the outstanding common shares of First Gold. As a
result of this acquisition, X-Ore now has ownership over 5,076,000 common
shares of First Gold, representing approximately 20.08% of its total issued
and outstanding common shares.
The common shares of First Gold were acquired as partial commitment
pursuant to option agreements whereby X-Ore granted First Gold an option to
earn up to 50% interest in its Croinor gold project located 75 km east of
Val-d'Or in Pershing Township, Province of Quebec (see X'Ore's press release
dated May 1st, 2007 for more details). X-Ore currently holds these shares for
investment purposes and may, at any time, elect to dispose of the securities,
subject to applicable securities regulatory authorities and requirements.
Accordingly, X-Ore has filed an Early Warning Report with the Securities
Commission of British Columbia, Alberta and Quebec. Copies of the report may
be obtained on SEDAR at www.sedar.com or by contacting the Company as provided
About X-Ore Resources Inc.
X-Ore Resources is a mineral exploration company with 18 properties
located in known gold regions of Mexico and Canada, including the prolific
Sierra Madre Gold Belt and the Val-d'Or region of Quebec.
The TSX Venture Exchange does not accept responsibility for the accuracy
of this press release. This press release contains "forward-looking
statements" not based on historical facts. Forward-looking statements express,
as of the date of this press release, our estimates, forecast, projections,
expectations and opinions as to future events or results. Forward-looking
statements herein expressed are reasonable, but involve a number of risks and
uncertainties, and there can be no assurance that such statements will prove
to be accurate. Therefore, actual results and future events could differ
materially from those anticipated in such statements. Factors that could cause
results or events to differ materially from current expectations expressed or
implied by the forward-looking statements include, but are not limited to,
fluctuations in the market price of precious metals, mining industry risks,
uncertainty as to calculation of mineral resources and requirements of
additional financing and the capacity of the Company to obtain financing.
For further information:
For further information: please visit X-Ore's website at www.x-ore.com
or contact: Mr. Léon Méthot, President and CEO, (819) 824-5422; Mr. Paul
Goulet, Investor Relations, (514) 710-8290, firstname.lastname@example.org