Boulder Mining Corporation: Springbok Options Tevrede Copper Gold Project in C$10 Million Deal.VANCOUVER, British Columbia -- Boulder Mining Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:BDR BDR Border BDR Bangladesh Rifles (military forces in Bangladesh) BDR Backup Designated Router (networking) BDR Bombardier (artillery rank) BDR Backup Disaster Recovery ) - John H. McAdam, President of Boulder Mining Corporation is pleased to report that it has reached an agreement, subject to regulatory approval, whereby Springbok springbok: see antelope. springbok or springbuck Species of antelope (Antidorcas marsupialis), native to treeless plains of southern Africa, the national emblem of South Africa. It stands about 30 in. Resources Inc. ("Springbok"), can earn, first a 60% interest and then a 70% interest by incurring $9 million of expenditures on the Tevrede Copper Gold Project located in Namibia. To date, Springbok has advanced $500,000 of funding for the continued exploration program which is currently refining targets that will be drilled later this quarter. Springbok Resources Inc. can earn a 60% interest in the Tevrede Project by incurring $4 million of exploration expenditures, making cash payments totaling $500,000 and issuing a total of 750,000 common shares of Springbok prior to Jan 31, 2009. Upon acquiring its 60% interest, Springbok has the right to earn an additional 10% interest in the Tevrede Project by incurring a further $5 million of exploration expenditures, making additional cash payments totaling $200,000 and issuing an additional total of 300,000 common shares of Springbok within an additional 2 year time frame. Boulder Mining welcomes the participation of Springbok, currently a private company controlled by a strong financial group. The Tevrede Copper Gold project has signatures of a large Iron Oxide Copper Gold (IOCG IOCG Iron Oxide Copper Gold IOCG International Organization for Crystal Growth ) system. Several large scale targets defined by detailed gravity surveys, drainage samples, soil samples, and rock samples will be further refined by conducting Induced Polarization ("IP") geophysical surveys. The plan is to have these targets ready for a drilling program to begin later this quarter. Boulder Mining Corporation has the right to earn a 100% interest subject to a 3% royalty interest in the Tevrede Project from Helio Resource Corp (TSX VENTURE:HRC HRC Human Rights Campaign HRC Human Rights Council (UN) HRC Human Rights Commission HRC Hard Rock Cafe HRC Hillary Rodham Clinton (democratic senator/presidential candidate; former first lady) ). Boulder Mining is also earning a 70% interest in the Indian River Property from Western Prospector Group (TSX VENTURE:WNP WNP Wireless Number Portability (FCC) WNP White Nationalist Party WNP Washington Nuclear Power WNP Will Not Proceed ). On behalf of the Board of Directors Boulder Mining Corporation John H. McAdam, President and Director 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. has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. BOULDER MINING CORPORATION (TSX VENTURE:BDR) |
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