Bryn Resources Inc Finalizes the form of a Letter of Intent with holder of Mineralized claims in Quebec

TORONTO, Nov. 27  /PRNewswire-FirstCall/ -- Bryn Resources Inc (PINKSHEETS: BRYN) (PINKSHEETS: BRYN.PK) is pleased to announce that it has executed a letter of Intent with the proprietor of the Montauban 4 Properties in Northern Quebec.

The completion of this most recent acquisition provides Bryn Resources with a diverse inventory of mineralized properties and extends Bryn Resources stated corporate goals of being a truly diverse mineral exploration company.

The initial investigations undertaken have revealed measured and indicated resources of 38,832 ounces of gold and 356,886 ounces of silver at which present values would generate $50,000,000 subject to extraction costs.

Bryn Resources will now enter into the negotiations required to finalize the Joint Exploration and Development Agreement contemplated in the aforesaid LOI whereby the mineralization in the Montauban Property will be verified and more exhaustively quantified.

Bryn Resources will also continue with its development of properties in British Colombia and expects to have further news with respect to that property in the very near future.

Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the Company's products, increased levels of competition for the Company, products and technological changes, the Company's dependence on third-party suppliers, and other risks detailed from to time in the Company's periodic reports filed with the Securities and Exchange Commission. 

DATASOURCE: Bryn Resources



CONTACT:  Bryn Resources Inc, Paul Diana, [phone]

Copyright