Geoinformatics Exploration Inc Announces Signing of Western Cordilleran Alliance with Kennecott Exploration Company.TORONTO -- Geoinformatics Exploration Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:GXL GXL Graph eXchange Language (based on XML) GXL Graphics Library )("Geoinformatics", "GXL", or "the Company") is pleased to announce the establishment of an important strategic alliance. Western Cordilleran Alliance Geoinformatics announces it has signed a 27-year strategic alliance agreement with Kennecott Exploration Company, a member of the Rio Tinto Rio Tinto may refer to:
and Yukon, and data on properties identified by Kennecott and predecessor companies over the last 50 years in Alaska, British Columbia and Yukon but not developed to date. This strategic alliance has two main components. - Geoinformatics has the exclusive right to access and review advanced exploration properties identified by Kennecott and thereafter to spend US$1 million over 12 months in assessing and acquiring the most prospective of those properties. Geoinformatics can then decide which properties it wishes to continue exploring and is required to spend US$3 million over five years to earn 100% interest on each of these properties subject to certain back-in rights retained by Kennecott. - The second part of the Agreement gives Geoinformatics rights to utilize the Kennecott databases for British Columbia and Yukon Territory Yukon Territory, territory (2001 pop. 28,674), 207,076 sq mi (536,327 sq km), NW Canada. Geography and Climate The triangle-shaped Yukon territory is bordered on the N by the Beaufort Sea of the Arctic Ocean, on the E by the Northwest Territories, ("the Project Area") in Canada. Geoinformatics is required to complete a regional Intervention Project over British Columbia and Yukon over a two year period which will result in the completion of a three-dimensional crustal-scale geodynamic model over the Project Area and the identification of ranked and prioritized targets for base and precious metal ore bodies. Kennecott has the first right to select targets that meet its corporate criteria, and Geoinformatics has the right to all other targets and any orphan orphan: see adoption; foundling hospital; guardian and ward. See widow & orphan. Orphan See also Abandonment. Adverse, Anthony finally, at middle age, discovers origins. [Am. Lit. targets that Kennecott subsequently abandons. Kennecott retains back-in rights to all targets and orphans taken up by Geoinformatics up to the completion of a feasibility study "A Feasibility Study" is an episode of the original The Outer Limits television show. It first aired on 13 April, 1964, during the first season. It was remade in 1997 as part of the revived The Outer Limits series with a minor title change. . This alliance represents an exclusive opportunity for the company to acquire highly prospective exploration properties in Alaska, British Columbia and Yukon and to develop for its exclusive use the most comprehensive, state-of-the-art geodynamic model ever developed over British Columbia and Yukon. Management believes this will provide the company with an enduring and significant competitive advantage in the region. As part of its business model, Geoinformatics will seek partners to become involved in the exploration projects that result from this alliance. Geoinformatics is a global exploration company focused on the resources industry that exchanges intellectual capital for equity. Geoinformatics has long term relationships with some of the most senior mining companies and provides a pipeline of exploration resource projects to the mining community. This news release includes certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. concerning the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating fluc·tu·ate v. fluc·tu·at·ed, fluc·tu·at·ing, fluc·tu·ates v.intr. 1. To vary irregularly. See Synonyms at swing. 2. To rise and fall in or as if in waves; undulate. v. commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon there·on adv. 1. On or upon this, that, or it. 2. Archaic Following that immediately; thereupon. Adv. 1. thereon - on that; "text and commentary thereon" on it, on that . We assume no obligation to revise or update these forward-looking statements. Disclaimer: 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. does not accept responsibility for the adequacy or accuracy of this release. Geoinformatics Exploration Inc. (TSX VENTURE:GXL) |
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