| ||October 20, 2010|
Troymet Expands Land Position at Key
| ||October 20, 2010 - Troymet Exploration Corp. (TSXV:TYE) ("Troymet" or the "Company") is pleased to report that it has entered into an agreement to acquire a 100% interest in four claims that immediately adjoin the south boundary of Troymet's 100% owned Key project, which is located 125 km southwest of Vanderhoof, British Columbia. The strategically located B&Y claims (tenure # 642003, 642004, 642023 and 642024), which are being acquired from a private owner, cover 972 hectares. Troymet now controls 8,854 hectares (21,880 acres) of highly prospective ground in the Key project. |
Under the terms of the agreement, Troymet has paid the owner $2,500 on signing and will issue 350,000 common shares of Troymet upon TSX Venture Exchange approval. The owner will retain a 2% NSR on the claims, 1.5% of which may be purchased by Troymet at any time for $750,000. The acquisition is subject to TSX Venture Exchange approval.
The B&Y claims cover the extension, and junction, of the GN and East faults. These structures carry anomalous gold and silver mineralization on the Key project and are a primary target in Troymet's ongoing exploration program for the Key project.
Tracy Hurley, P.Geo., Vice President, Exploration and qualified person as defined by National Instrument 43-101 is responsible for the technical information provided in this release.
TROYMET EXPLORATION CORP.
Kieran Downes, Ph.D., P.Geo.
President, CEO & Director
For further information, contact:
Tel: 1-888-456-4952 or firstname.lastname@example.org
Neither the 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 news release. This press release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
You can view the Next News Releases item: Fri Oct 22, 2010, Troymet Increases Private Placement to $3,000,000
You can view the Previous News Releases item: Mon Oct 18, 2010, Troymet Announces $2,000,000 Private Placement
You can return to the main News Releases page, or press the Back button on your browser.