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X-Ore acquires 4.3 million shares of First Gold Exploration Inc.
Wednesday, February 04, 2009 2:30 PM


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 below.

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.

(Source: CNW )


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