Admiral Bay To Substantially Increase Land Position In Jalisco State, Mexico.TORONTO -- - Admiral Bay announces that it has suspended joint venture with Minera San Jorge at Monte Del Favor in Mexico Admiral Bay Resources Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension .V: ADB (Apple Desktop Bus) A low-speed serial bus for connecting keyboards, mice and other input devices on Apple IIgs and Macintosh computers. Starting with the iMac in 1998, the ADB was superseded by USB. ) announced today that following its 3,000 meter Phase I drilling and trenching program the Company is looking to significantly increase its land position in Jalisco State, Mexico. The Company is currently in the process of evaluating its Phase I program and planning its Phase II drilling and test program in Mexico. Results from the Phase I program as highlighted by the press release of August 5, 2004 indicate strong potential for finding numerous stacked mineralized min·er·al·ize v. min·er·al·ized, min·er·al·iz·ing, min·er·al·iz·es v.tr. 1. To convert to a mineral substance; petrify. 2. To transform a metal into a mineral by oxidation. 3. silver/gold veins. Work done by Admiral Bay indicates potential for significant mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. in the area. However, Admiral Bay has decided to drop its joint venture with Minera San Jorge at Monte Del Favor in order to pursue other opportunities that will be of greater benefit to the Company and its shareholders. Admiral Bay shall provide further disclosure of its intentions once the evaluation and planning for its Phase II program has been completed. Admiral Bay Resources Inc. (www.admiralbay.com) is a Canadian resource exploration and development company with diversified assets in both the oil & gas and mining sectors. Production has begun at the Company's U.S. conventional and coalbed methane (CBM CBM Commodore Business Machines CBM Coalbed Methane CBM Christoffel Blindenmission CBM Condition Based Maintenance CBM Confidence-Building Measures CBM Curriculum Based Measurement (education) CBM Cubic Meter ) gas projects located in the Uintah, Cherokee and Appalachian Basins, which have the potential to host up to 415 BCF of gas. The Company's Moose River Basin property is being explored for coalbed methane on over 250,000+ acres in the James Bay lowlands of northern Ontario. The Company is listed on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. . Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements". The TSX Venture Exchange does not accept responsibility for the adequacy of this release Admiral Bay Resources Inc. (TSX VENTURE:ADB) |
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