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TRM Trueclaim Exploration Inc

0.10
0.00 (0.00%)
23 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Trueclaim Exploration Inc TSXV:TRM TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.10 0.07 0.10 0 01:00:00

Trueclaim Exploration Inc. Signs Assignment and Assumption Agreement for Mineral Properties in Ontario, Quebec and Newfoundland

10/02/2012 2:29am

Marketwired Canada


Trueclaim Exploration Inc. (TSX VENTURE:TRM)(OTCQX:TRMNF)(the "Company"), an
explorer and developer of precious and base metals projects, is pleased to
announce that it has signed an agreement with Northern Skye Resources Inc.
("Northern Skye") whereby Northern Skye assumes all obligations and payments
under the following mineral property options (the "Optioned Properties") held by
the Company:




a.  "Berry-Desboues Option Agreement" announced by the Company on August 17,
    2011;
      
b.  "Boston-McElroy Option Agreement" announced by the Company on September
    7, 2011;
      
c.  "Cook-Guibord Option Agreement" announced by the Company on September 7,
    2011;
      
d.  "Hebecourt Option Agreement" announced by the Company on August 17,
    2011;
      
e.  "Linear Option Agreement" announced by the Company on June 16, 2011.



As consideration for assigning the Option Agreements to Northern Skye, Northern
Skye agrees:




i.  to issue to the Company three million (3,000,000) common shares in the
    capital of Northern Skye;
      
ii. to pay in cash such amounts representing the actual cash expenditures
    already paid by the Company in respect of the acquisition of its option
    rights in and to each of the Optioned Properties
      
iii.the Company retains a ten percent (10%) carried working interest (the
    "Retained Interest") in each of the Optioned Properties
      
iv. Northern Skye shall have the right, but not the obligation, to purchase
    at any time and from time-to-time in increments of not less than one
    percent (1%) up to the entire Retained Interest in any or all of the
    Optioned Properties for consideration of one million dollars
    ($1,000,000) per one percent (1%) interest.



The transaction is subject to acceptance by the TSX Venture Exchange.

We seek safe harbour. 

John Carter, President

This news release contains "forward-looking information" (within the meaning of
applicable Canadian securities laws) and "forward-looking statements" (within
the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such
statements or information are identified with words such as "anticipate",
"believe", "expect", "plan", "intend", "potential", "estimate", "propose",
"project", "outlook", "foresee" or similar words suggesting future outcomes or
statements regarding an outlook. Such statements include, among others, those
concerning the Option Agreements and the assignment agreement. All statements in
this news release, other than statements of historical facts, which address
future production, reserve potential, exploration activities, financing plans,
objectives or goals, and events or developments that the Company expects, are
forward-looking statements. Since forward-looking statements address future
events and conditions, by their very nature, they involve inherent risks and
uncertainties. Such forward-looking information or statements are based on a
number of risks, uncertainties and assumptions which may cause actual results or
other expectations to differ materially from those anticipated and which may
prove to be incorrect. Assumptions have been made regarding, among other things,
management's expectations regarding its ability to complete its exploration and
development work as expected. Actual results could differ materially due to a
number of factors, including, without limitation, operational risks in the
completion of the Company's continued development work, technical, safety or
regulatory issues, market prices, exploitation and exploration successes,
continued availability of capital and financing, and general economic, market or
business conditions. Although the Company believes that the expectations
reflected in the forward-looking information or statements are reasonable,
prospective investors in the Company's securities should not place undue
reliance on forward-looking statements because the Company can provide no
assurance that such expectations will prove to be correct. Actual results or
developments may differ materially from those projected in the forward-looking
statements. Such risks include expectations that may be raised by discussing
potential mine types and by comparing the Company's projects to other projects.
Also, in order to proceed with the Company's exploration and acquisition plans,
additional funding is necessary and, depending on market conditions, this
funding may not be forthcoming on a schedule or on terms that facilitate the
Company's plans. Forward-looking information and statements contained in this
news release are as of the date of this news release and the Company assumes no
obligation to update or revise this forward-looking information and statements
except as required by law.


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