Welcome!

News Feed Item

Victory Mountain Acquires Alberta Frac Sand Property

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 03/14/14 -- Victory Mountain Ventures Ltd. (TSX VENTURE: VMV) ("Victory") announces that it has entered into an option agreement (the "Agreement"), subject to the approval of the TSX Venture Exchange, whereby it may earn a 100% interest in 8 Metallic and Industrial Minerals Permits totalling approximately 737 square kilometres (73,728 hectares; the "Property"), which is located west of Fort McKay, in the prolific Fort McMurray area of northeastern Alberta. Frac sand is actively being sought out and mined in Alberta to meet growing demand, with particular interest in abundant silica sand associated with the Paddy and time equivalent Pelican formations in Northern Alberta. The Pelican Formation is known to crop out or underlie the Property as identified in preliminary work.

The property is served by a network of all-weather roads serving the oil and gas industry. Approximately 95 km of all-weather roads link the property to Fort McMurray and an active rail line. Preliminary review of extensive oil and gas well drilling in the Property area has outlined Pelican sand thicknesses of up to 50 plus metres, which will be the focus of exploration. The sand is near to and in some areas exposed at surface, which will facilitate affordable exploration costs and upcoming operational logistics.

Consulting Geologist Mike Dufresne commented, "Future evaluation of the frac sand potential of the Property is warranted given: the proximity of several Steam-Assisted Gravity Drainage operations in the Property area; the developing infrastructure associated with oil sands growth adjacent to and on the Property; and an increasing number of tight oil and gas plays in Alberta and neighboring provinces/territories."

Director Patrick Morris commented, "The shale gas industry in Western Canada is in its infancy. We are very pleased to take the first step towards becoming one of the first TSX-V listed companies to become suppliers of frac sand in Canada. Currently 90 percent of frac sand used in the Canadian oil and gas industry (approximately 3.5 million tons per year) comes from the Midwestern United States. We believe there is a strong economic future in this sector, and therefore for our shareholders in producing a domestic supply in Canada."

"Frac sand" is high-purity quartz silica sand with very durable round grains. It is a crush-resistant material produced for the petroleum industry. It is used in the hydraulic fracturing process known as "fracking" to aid in the flow of oil, natural gas and natural gas liquids. Frac sand is also referred to as a "Proppant" because it props the fractures open to allow easier flow of oil and gas.

Pursuant to the terms of the Agreement, Victory will pay a cumulative amount of $40,000 cash, issue 2,500,000 common shares and incur a minimum of Exploration Expenditures of $350,000 over a two year period. The Property will also be subject to a 1% gross overriding royalty. Finder's fees, as allowed pursuant to the policies of the TSX Venture Exchange, may be payable in connection with this acquisition.

Victory Mountain Ventures Ltd. (TSX VENTURE: VMV) is a Junior Exploration Company based in Western Canada. The Company has interests in Frac Sand, Copper, Gold, Silver, Molybdenum and other base metals in Canada.

Technical information in this news release has been prepared and/or revised by Mike Dufresne, P.Geol., a qualified person as defined in NI 43-101.

On Behalf of the Board of Directors

VICTORY MOUNTAIN VENTURES LTD.

Charles Desjardins, President and 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."

Cautionary note:

This report contains forward looking statements. Resource estimates, unless specifically noted, are considered speculative. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. The production rate and mine-life projections have been made without support of a feasibility study, there is no certainty the proposed operations will be economically viable. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
Artificial Intelligence has the potential to massively disrupt IoT. In his session at 18th Cloud Expo, AJ Abdallat, CEO of Beyond AI, will discuss what the five main drivers are in Artificial Intelligence that could shape the future of the Internet of Things. AJ Abdallat is CEO of Beyond AI. He has over 20 years of management experience in the fields of artificial intelligence, sensors, instruments, devices and software for telecommunications, life sciences, environmental monitoring, process...
Increasing IoT connectivity is forcing enterprises to find elegant solutions to organize and visualize all incoming data from these connected devices with re-configurable dashboard widgets to effectively allow rapid decision-making for everything from immediate actions in tactical situations to strategic analysis and reporting. In his session at 18th Cloud Expo, Shikhir Singh, Senior Developer Relations Manager at Sencha, will discuss how to create HTML5 dashboards that interact with IoT devic...
In his session at 18th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., will focus on real world deployments of DDoS mitigation strategies in every layer of the network. He will give an overview of methods to prevent these attacks and best practices on how to provide protection in complex cloud platforms. He will also outline what we have found in our experience managing and running thousands of Linux and Unix managed service platforms and what specifically c...
The IoTs will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm and share the must-have mindsets for removing complexity from the development proc...
We’ve worked with dozens of early adopters across numerous industries and will debunk common misperceptions, which starts with understanding that many of the connected products we’ll use over the next 5 years are already products, they’re just not yet connected. With an IoT product, time-in-market provides much more essential feedback than ever before. Innovation comes from what you do with the data that the connected product provides in order to enhance the customer experience and optimize busi...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Many private cloud projects were built to deliver self-service access to development and test resources. While those clouds delivered faster access to resources, they lacked visibility, control and security needed for production deployments. In their session at 18th Cloud Expo, Steve Anderson, Product Manager at BMC Software, and Rick Lefort, Principal Technical Marketing Consultant at BMC Software, will discuss how a cloud designed for production operations not only helps accelerate developer...
A critical component of any IoT project is the back-end systems that capture data from remote IoT devices and structure it in a way to answer useful questions. Traditional data warehouse and analytical systems are mature technologies that can be used to handle large data sets, but they are not well suited to many IoT-scale products and the need for real-time insights. At Fuze, we have developed a backend platform as part of our mobility-oriented cloud service that uses Big Data-based approache...
Peak 10, Inc., has announced the implementation of IT service management, a business process alignment initiative based on the widely adopted Information Technology Infrastructure Library (ITIL) framework. The implementation of IT service management enhances Peak 10’s current service-minded approach to IT delivery by propelling the company to deliver higher levels of personalized and prompt service. The majority of Peak 10’s operations employees have been trained and certified in the ITIL frame...
trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vice president of product management, IoT solutions at GlobalSign, will teach IoT developers how t...
As the rapid adoption of containers continues, companies are finding that they lack the operational tools to understand the behavior of applications deployed in these containers, and how to identify issues in their application infrastructure. For example, how are multiple containers within an application impacting each other’s performance? If an application’s service is degraded, which container is to blame? In the case of an application outage, what was the root cause of the outage?
Digital payments using wearable devices such as smart watches, fitness trackers, and payment wristbands are an increasing area of focus for industry participants, and consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market. Wearable payment systems may utilize near field communication (NFC), radio frequency identification (RFID), or quick response (QR) codes and barcodes...
SYS-CON Events announced today that CollabNet (www.collabnet.com) a global leader in enterprise software development and delivery solutions that help customers create high-quality applications at speed, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The CEO of CollabNet Flint Brenton will also present about DevOps challenges in today’s global, open, and heterogeneous world of software development.
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...