Northern Empire Receives Exchange Acceptance for Manson Creek Option
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 8, 2015) - Northern Empire Resources Corp. (TSX VENTURE:NM) (the "Company" or "Northern Empire") today announced that pursuant to receiving TSX Venture Exchange approval on its previously announced Option to acquire certain mineral claims in the Manson Creek Omineca Mining Division, British Columbia (See news release dated June 23, 2015), it has completed the initial payment consisting of a cash payment of C$15,000 and the issuance of 100,000 common shares (the "Shares") in the capital of the Company.
The Shares are subject to a four-month hold period expiring on November 3, 2015, in addition to such other restrictions as may apply under applicable securities laws in jurisdictions outside of Canada.
About Manson Creek
The Manson Creek Property consists of three claims aggregating 3484 hectares and is located 70 kilometres west of the town of Mackenzie and 45 kilometres north of the Mount Milligan Mine. It is road accessible from Mackenzie or Fort St James year round and terrain is moderate.
The claim blocks contain gold-in-silt anomalies in a favorable geological setting which has been largely untested by work completed to date. Favorable access and infrastructure make this an ideal early-stage prospect which can be advanced with an initial modestly-sized exploration program.
To view a location map of the Manson Creek project, please visit Northern Empire's website at http://www.northernemp.com/projects/mansoncreek/.
About Northern Empire
Northern Empire is a newly formed company which will follow the "Project Generator" business model to take advantage of the depressed market conditions in the resource sector to acquire low acquisition and low holding cost properties with significant exploration potential.
A Project Generator identifies, acquires, and performs early stage exploration on compelling exploration targets before finding project partners to bear the financial risk associated with advanced exploration.
Northern Empire's experienced board and management team feels that executing the Project Generator business model is the most practical way to provide investors the potential excitement and value creation of mineral discoveries, without the financial risks and equity dilution of standard exploration programs.
ON BEHALF OF THE BOARD OF Northern Empire Resources Corp.
Jim Paterson
CEO, 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 NEWS RELEASE.
This press release includes "forward-looking statements" including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of Northern Empire Resources Corp. The acquisition described above is subject to a number of conditions precedent, and there is no assurance that (i) all conditions will be satisfied, (ii) the option will occur on the bases outlined above, or close at all; or (iii) if closed, that the Company will be able to practically or profitably implement the Project Generator business model. Statements regarding mineral exploration operations and objectives are subject to risk, including, but are not limited to, exploration and geologic risk, inflation and costs of goods and services, property title issues and regulatory approvals. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Northern Empire does not assume the obligation to update any forward-looking statement, except as required by applicable law.
