Welcome!

News Feed Item

Laurentian Goldfields Signs Definitive Agreement on Newman-Madsen Acquisition Consolidating the Madsen Mine Trend And Announces Strengthened Management Additions

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/13/14 -- Laurentian Goldfields Ltd. ("Laurentian" or the "Company") (TSX VENTURE: LGF) is pleased to announce it has entered into a Definitive Agreement to acquire a 100% interest in the Newman-Madsen Property from Sabina Gold & Silver Corp. ("Sabina") as previously announced January 14, 2014. The Newman-Madsen Property consists of 38 patented mining claims and is adjacent to Laurentian's Madsen Gold Project in the prolific Red Lake gold camp. Together, the two properties comprise a land package in excess of 5,000 hectares with numerous advanced exploration targets and former gold producers along the 12 kilometre Madsen Mine Trend.

On closing, Laurentian will issue 6.5 million common shares of the Company to Sabina, which are subject to a statutory four month hold period. Laurentian will also take the necessary steps to appoint Mr. Robert Pease, current President and CEO of Sabina, to Laurentian's Board of Directors. The parties will also enter into an equity participation agreement pursuant to which Sabina will have a right to maintain its equity position. Such right will expire on the earlier of 24 months from the closing date or the date which Sabina ceases to hold at least 3.5% of the shares of Laurentian.

"Acquisition of the Newman-Madsen Property is consistent with Laurentian's strategy of consolidating the Madsen Mine Trend to allow the application of modern day exploration under a single property owner. This acquisition is another step in establishing Laurentian as a leading Red Lake exploration company," stated Darin Labrenz, President and CEO of Laurentian. "I also look forward to having Rob Pease joining the Board of Directors. Rob's capital markets expertise and knowledge of the Red Lake gold camp will be a great compliment to our current board and management team."

Sabina will hold a 6.3% interest in the Company upon closing of the transaction, which is expected in May 2014, and is subject to receipt of all required regulatory and third party consents and satisfaction of customary closing conditions and documentation.

About the Newman-Madsen Property

The consolidation of the Newman-Madsen Property and the Madsen Gold Project into one contiguous land package expands the Company's access to prospective horizons along the Madsen Mine Trend by more than two kilometres, and provides exposure to prospective structural horizons associated with the Buffalo and Laverty deposits.

The Madsen Mine Trend lies along the Balmer and Confederation unconformity, and is the key structural break that hosts the past producing Madsen and Starratt-Olsen gold deposits. Mineralization has been previously identified at Newman-Madsen along the structural break, with wide spaced drilling in 2010 returning 43.51 g/t gold over 0.65 m, and earlier drilling in 2006 returning 22.57 g/t gold over 2.0 m. (See news release of Sabina Gold & Silver Corp. dated January 27, 2011.)

The Western Buffalo Trend is characterized by geochemical anomalies that are on trend with the projected extension of mineralization associated with Laurentian's Buffalo Mine. Historic drilling on this trend targeted mineralization along the intrusive/volcanic contact returning 9.24 g/t gold over 3.55 m in hole RLK-02-05. (See news release of Wolfden Resources Inc. dated January 8, 2002.)

The Laverty trend, on the northern section of the property, is characterized by a sequence of folded mafic and ultramafic rocks that are considered prospective for Red Lake 'HGZ', or Zone 8 gold style mineralization.

Laurentian Strengthens Management Team

Laurentian is also pleased to announce that it has enhanced its management team and financial oversight with the appointment of Mr. Sean Tetzlaff to Chief Financial Officer. Mr. Tetzlaff is an experienced financial professional with over 18 years of experience in the mining industry. Recently he served as Chief Financial Officer and Corporate Secretary of Blue Gold Mining, which merged with Riverstone Resources in 2012 to become True Gold Mining. He also served as CFO, VP Finance and Corporate Secretary of Fronteer Gold from 2005 to 2011. Mr. Tetzlaff has a tax background, having worked with KPMG LLP from 2000 to 2004. He is currently the CFO of True North Nickel, a private nickel explorer, and a Director and Chair of the Audit Committee of Pilot Gold.

Laurentian has also appointed Mr. Blaine Monaghan as Director of Investor Relations. Mr. Monaghan has over 12 years of experience in the mineral exploration industry, most recently as VP, Corporate Development for Camino Minerals Corp., and previously Director, Investor Relations for Canplats Resources Corp., which was acquired in 2010 by Goldcorp Inc. for C$300-million. Mr. Monaghan will be responsible for overseeing Laurentian's investor relations program, providing enriched communication and developing relationships with both shareholders and capital markets.

The newly appointed officer and employee will be granted incentive stock options exercisable to purchase up to 300,000 common shares in the capital of the Company until May 13, 2019 at an exercise price of $0.32 per share. The incentive stock options were granted in accordance with Laurentian's Stock Option Plan and are subject to vesting provisions.

Qualified Persons

Darren O'Brien, P.Geo., and the Vice President, Exploration for the Company, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and verified that the technical information contained in this release is accurate and approves of the written disclosure of same.

About Laurentian Goldfields Ltd.

Laurentian is led by a management team and board that comprise established mining professionals with extensive knowledge of Red Lake, and proven technical and capital markets expertise. The management and board are committed to generating exceptional shareholder growth through the exploration and development of the high-grade gold Madsen Gold Project in the prolific Red Lake gold camp of Northwestern Ontario. Laurentian intends to become a leading exploration company by unlocking the value in numerous advanced-stage exploration targets and previous gold producers along the 12 kilometre Madsen Mine Trend.

ON BEHALF OF THE BOARD OF DIRECTORS,

Darin Labrenz, P.Geo., President and CEO

Neither 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 Statement on Forward-Looking Information

This press release contains certain forward-looking statements, such statements include, without limitation, Laurentian's plans and objectives to acquire the Newman-Madsen Gold Property. All statements, other than statements of historical facts, are forward-looking statements. The words "believe", "expect", "anticipate", "contemplate", "target", "plan", "intends", "continue", "budget", "estimate", "may", "will" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, but are not limited to, fluctuations in the price of gold and other commodities, changes in government legislation, taxation, controls, regulations and political or economic developments in Canada, risks associated with mining or development activities, the speculative nature of exploration and development, including the risk of obtaining necessary licenses and permits and the inability of Laurentian to complete the acquisition of the Newman-Madsen Gold Property. Many of these uncertainties and contingencies can affect the Company's actual performance and could cause actual performance to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Readers are cautioned that forward-looking statements are not guarantees of future performance. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those acknowledged in such statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.

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
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
SYS-CON Events announced today that DatacenterDynamics has been named “Media Sponsor” of 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. DatacenterDynamics is a brand of DCD Group, a global B2B media and publishing company that develops products to help senior professionals in the world's most ICT dependent organizations make risk-based infrastructure and capacity decisions.
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor – all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the USA and Europe, we work with a variety of customers from emerging startups to Fortune 1000 companies.
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Analytic. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).