Foundation Resources Extends Warrant Expiry Dates
15.10.2012 | The Newswire
Vancouver, British Columbia, October 15, 2012 - Foundation Resources Inc. ("Foundation" or the "Company") announces that its Board of Directors has agreed to extend the expiry date of an aggregate 5,136,250 outstanding share purchase warrants. The subject warrants were originally issued on October 31, 2011 with an expiry date of one year. The warrant extension will be for a new expiry date of October 31, 2014. The warrant exercise price will continue to be at the original price of $0.15.The amendment to the terms of the warrants is subject to TSX Venture Exchange approval and any other regulatory approvals.
About Foundation Resources Inc.
Foundation Resources is a mineral exploration company focused on the exploration and development of its flagship Coldstream Gold Project located in the Shebandowan Greenstone Belt, 115 Km North West of Thunder Bay, Ontario. The Company's NI 43-101 resource estimate reported September 20, 2011 by Wardrop delineated a total inferred mineral resource of 763,276 ounces gold and an indicated resource of 96,400 ounces gold on the OG Deposit, which is one of five highly prospective gold targets that Foundation has within this 16 km long Coldstream Gold Trend.
On behalf of the board,
Ike Osmani, M.Sc., P.Geo.
President & Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release." News release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
