Northern Lights Resources Corp. has terminated the earn-in agreement to acquire the Del Undur titanium and polymetallic project in Mongolia.
In June, 2017, Northern Lights entered into an earn-in agreement with a Mongolian-based company, EMIC LLC, to acquire a 100-per-cent interest in the Del Undur project located in northeastern Mongolia. The Del Undur project is prospective to host a large-scale titanium and polymetallic mineral deposit.
Following the completion of a strategic review, Northern Lights has elected to withdraw from the Del Undur agreement and focus on the development of the Medicine Springs silver-zinc-lead project located in Nevada, where exploration work completed to date continues to show strong potential for the project to host an open-pittable oxide deposit and potential to host a carbonate replacement deposit at depth.
About Northern Lights Resources Corp.
Northern Lights Resources is a growth-oriented exploration and development company with two advanced exploration projects.
Medicine Springs Project - Northern has entered into an agreement to acquire 100-per-cent equity interest in the Medicine Springs project, a prospective zinc-lead-silver property located in southeastern Elko county, Nevada. The Medicine Springs property consists of 149 unpatented mineral claims (1,189 hectares), and is an advanced exploration project with extensive drilling and many significant silver-zinc-lead intercepts.
The geological information in this news release has been reviewed by Gary Artmont, head of geology for Northern Lights and is a qualified person under the guidelines of National Instrument 43-101.
For further information, please contact:
Albert Timcke, Executive Chairman and President
Tel: +1 604 608 6163
Jason Bahnsen, Chief Executive Officer
Tel: +1 604 608 6163
Northern Lights Resources trades under the ticker of “NLR” on the CSE. This and other
Northern Lights Resources news releases can be viewed at www.sedar.com and
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward- looking statements include, but are not limited to, statements with respect to: the terms and conditions of the proposed private placement; use of funds; the business and operations of the Company after the proposed closing of the Offering. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the uncertainties surrounding the mineral exploration industry. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.