Newmac Resources Inc. (TSX-V: NER) is pleased to announce that it has entered into an agreement to option a 100% interest in the RAFT Molybdenum project, located 35 kilometers north east of Clearwater, BC for $5,000 and the issuance of 50,000 common shares, subject to a 2% NSR. Newmac Resources Inc. was made aware of Raft Molybdenum project while it was conducting exploration on its Crazy Fox molybdenum-tungsten project located approximately 20 kilometers south of the acquisition. After recent success on the Crazy Fox project the company acquired Raft while looking for other under explored molybdenum projects in the area.
Available records indicate that the area has anomalous molybdenum and Tungsten soil samples. Coincident with an unmapped favourable intrusive body
Management of Newmac Resources Inc. believes that under explored molybdenum targets currently represent a tremendous opportunity in light of the current price for molybdenum and the renewed interest in British Columbia by global mining companies. Although the company is still compiling data it believes that completing a first pass induced polarization survey will be an effective way to initiate exploration on this target.
Results have also been received from the diamond drilling performed on the company’s Chilanko copper project located in the Chilcotin Region of BC near the village of Tatla Lake. Although no economically significant assays were returned, the company is sufficiently intrigued to complete additional induced polarization surveys, which are scheduled to commence in February. This survey will cover approximately 40 km of grid lines, covering an area approximately 520 hectares or 2 square miles. This will extend the previous IP survey 2.7 km eastward.
Technical content of this news has been reviewed by Bill Morton, PGeo, a qualified person within the definitions of National Instrument 43-101.
ON BEHALF OF THE BOARD
This news release contains forward-looking statements within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause Newmac Resources Inc.’s results to differ materially from expectations. These include risks relating to market fluctuations, property performance and other risks. These forward-looking statements speak only as of the date hereof.
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For Further Information Contact David Hjerpe, President at: (604) 461-7211