Rock Resources to Acquire Interest in Ontario and Yukon Claims.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 3, 2002 Rock Resources Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension Venture: RCK RCK Returned Check RCK Reverse Crescent Kick (karate) RCK Radio Check ) ("RCK") is pleased to announce the Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) has accepted for filing a Heads of Agreement Heads of Agreement A non-binding document outlining the main issues relevant to a tentative partnership agreement. Notes: It is the draft used by lawyers when drawing up the contract. It serves as a guideline for both parties before any documents are legalized. dated July 9, 2002 between the Company and Western Prospector Group Ltd. ("WPN WPN Weapon WPN Wolinski Park Narodowy (Polish: Wolin National Park) WPN Wood Promotion Network WPN Weapons Procurement, Navy ") to earn up to a 60% interest in a total of 3,017 hectares in the Esquega township in the district of Algoma, Ontario and 38 contiguous claim units in the McMurray, Lastheels and Chabanel townships, Ontario, known as the Lakemount Property. In consideration, the Company intends to carry out exploration expenditures in the amount of CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $2.5 million ($100,000 before December 31, 2002, $600,000 before June 30, 2003, $800,000 before June 30, 2004 and $1 million before June 30, 2005). The Company has paid to WPN $20,000 on the signing of the Agreement and will pay a total of $40,000 by June 30, 2004 pursuant to an underlying agreement, and issue a total of 500,000 investment units (200,000 upon approval, 100,000 by June 30, 2003; 100,000 by June 30, 2004; and 100,000 by June 30, 2005). Each unit will consist of one common share and one common share purchase warrant exercisable for one additional common share for a 15-month period. The exercise price of the first tranche Tranche One of several related securities offered at the same time. Tranches from the same offering usually have different risk, reward, and/or maturity characteristics. tranche A class of bonds. of warrants is $1.00 and the subsequent tranches will have an exercise price set at the market price at the time of issuance. The Company is also pleased to announce Exchange approval for filing a Letter Agreement dated July 9, 2002 between the Company and Pacific Ridge Exploration Ltd. (PEX) and Welcome Opportunities Ltd. (now Endeavour Mining Capital Corp) ("Welcome"), which agreements grant the Company the rights to earn up to a 60% interest in mineral claims comprising the Fyre Lake property located in the Watson Lake Watson Lake, village (1991 pop. 912), SE Yukon Territory, Canada, near the Liard River and the British Columbia border. It is a Royal Canadian Mounted Police Post, with an airfield and a radio station, located near the Alaska Highway. Mining District, Yukon. The agreement between Pacific Ridge and the Company provides Rock Resources the ability to earn up to a 40% interest in core claim expenditures in the amount of CDN $6 million ($50,000 before December 31, 2002, $450,000 before December 31, 2003 and the remainder over the next three years). The Company will issue a total of 250,000 units (100,000 upon approval and 150,000 by January 31, 2004). Each unit will consist of one common share and one common share purchase warrant exercisable for one additional common share for a 15-month period. The exercise price of the first tranche of warrants is $1.00 and the second tranche will have an exercise price set at the market price at the time of issuance. The Company intends to issue 300,000 shares to Welcome to acquire its 20% interest in core claims comprising part of the Fyre Lake Property, thereby bringing its rights to a 60% interest in both the core claims and peripheral claims of the Fyre Lake Property. About Rock Resources Inc. Rock Resources, a Vancouver-based mineral resources Noun 1. mineral resources - natural resources in the form of minerals natural resource, natural resources - resources (actual and potential) supplied by nature exploration company, specializes in the drilling of gold and diamond properties in the Southwestern United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and the Province of Ontario. The Company acquires properties that have already been identified as excellent prospects for the discovery of significant quantities of precious minerals, and pursues an aggressive program of exploration. It operates either independently or forms strategic partnerships with other companies with compatible interests in the regions. This news release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in any jurisdiction. The securities of the corporation have not been and will not be registered under the U.S. Securities Act, 1933, as amended, and subject to certain exemptions may not be offered or sold in the United States or to U.S. persons. The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. You may register to receive Rock Resources Inc.'s prior and future press releases or to download a complete Digital Investor Kit(TM) including press releases, regulatory filings and corporate materials by clicking on the "KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Interactive Platform" icon at www.kcsa.com. |
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