Welcome!

News Feed Item

Venerable Ventures Ltd. Increases the Size of the Trout Property and Extends the Final Payment Required Under the Original Option Agreement

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/20/14 -- Venerable Ventures Ltd. (TSX VENTURE:VLV) ("Venerable" or the "Company") is pleased to announce that, pursuant to an amendment agreement (the "Amendment") dated May 15, 2014 with Robert Carmichael and Landmark Geological Inc. (the "Optionors"), it has increased the size of its Trout Property (the "Property") located in the Nechako Plateau, near Vanderhoof, British Columbia and extended the terms of the option agreement (the "Option Agreement") dated April 26, 2011 with the Optionors, whereby the Company can acquire a 100% in the Property. The terms of the Option Agreement were disclosed in the Company's News Release of May 19, 2011. Two additional claims totaling approximately 2,360 hectares have been added to the Property. The Property now comprises 24 mineral tenures with a total area of approximately 9,631 hectares.

The additional claims enclose ten new areas that contain gold and co-incident multi-element till geochemical anomalies. These areas have received little if any follow-up work and will be ground inspected in the coming weeks. Mineralization at the main Discovery Zone on the Property is a low-sulphidation gold-silver epithermal system hosted by silica-adularia altered breccias in polymictic conglomerate and rhyodacite. At the main Discovery Zone, several new drill targets remain top priority for testing.

The third anniversary payment of $180,000 and issuance of 400,000 shares of the Company, due May 23, 2014 has been extended by 18 months to November 23, 2015, along with the remaining exploration expenditures required under the Option Agreement. In consideration for the addition of the new claims and the extension of the Option Agreement, the Company will make additional payments totaling $20,000 and issue 400,000 additional shares to the Optionors. The Company will also undertake a surface exploration program prior to August 31, 2014 on the new claims with a work commitment of $20,000. The Amendment, the share issuance and the payment obligations thereunder remain subject to approval of the TSX Venture Exchange.

About the Company

Venerable Ventures Ltd. is a Canadian natural resource company engaged in the acquisition, exploration and development of mineral properties, with its primary focus on the Trout Property. The Trout Property is 65 km southwest of Vanderhoof, B.C. on the Nechako Plateau and covers an area of 9,631 hectares. The Property is approximately 40 km NNE of NewGold's Blackwater Project.

ON BEHALF OF THE BOARD OF DIRECTORS OF VENERABLE VENTURES LTD.

Ryan Sharp, President and CEO

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding Venerable's proposed option of the Property. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future including, without limitation: (1) limited operating history, (2) exploration, development and operating risks, (3) regulatory risks, (4) substantial capital requirements and liquidity, (5) competition, (6) reliance on management and dependence on key personnel, (7) fluctuating mineral prices and marketability of minerals, (8) title to properties, (9) local resident concerns, (10) no mineral reserves or mineral resources, (11) environmental risks, (12) governmental regulations and processing licenses and permits, (13) conflicts of interest of management, (14) uninsurable risks, (15) exposure to potential litigation, (16) dividends, (17) and other factors beyond the control of the Company. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including, without limitation: (1) the failure to enter into the Amendment for any reason, (2) the Company's inability to meet its required expenditures under the Amendment and the Option Agreement, assuming such Amendment is entered into, (3) limited operating history, (4) mineral exploration, development and operating risks, (5) substantial capital requirements and liquidity, (6) competition, (7) reliance on management and dependence on key personnel, (8) fluctuating mineral prices and marketability of minerals, (9) regulatory requirements, (10) title to properties, (11) local resident concerns, (12) no mineral reserves or mineral resources, (13) environmental risks, (14) governmental regulations and processing licenses and permits, (15) potential conflicts of interest of management (16) uninsurable risks, (17) exposure to potential litigation, (18) dividends, (19) and other factors beyond the control of the Company's control. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Venerable will obtain from them.

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.

Contacts:
Venerable Ventures Ltd.
Ryan Sharp
President and CEO
(604) 647-0146

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
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, will provide a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services ...
Imagine having the ability to leverage all of your current technology and to be able to compose it into one resource pool. Now imagine, as your business grows, not having to deploy a complete new appliance to scale your infrastructure. Also imagine a true multi-cloud capability that allows live migration without any modification between cloud environments regardless of whether that cloud is your private cloud or your public AWS, Azure or Google instance. Now think of a world that is not locked i...
SYS-CON Events announced today that Auditwerx 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. Auditwerx specializes in SOC 1, SOC 2, and SOC 3 attestation services throughout the U.S. and Canada. As a division of Carr, Riggs & Ingram (CRI), one of the top 20 largest CPA firms nationally, you can expect the resources, skills, and experience of a much larger firm combined with the accessibility and atten...
In his session at @ThingsExpo, Eric Lachapelle, CEO of the Professional Evaluation and Certification Board (PECB), will provide an overview of various initiatives to certifiy the security of connected devices and future trends in ensuring public trust of IoT. Eric Lachapelle is the Chief Executive Officer of the Professional Evaluation and Certification Board (PECB), an international certification body. His role is to help companies and individuals to achieve professional, accredited and worldw...
MongoDB Atlas leverages VPC peering for AWS, a service that allows multiple VPC networks to interact. This includes VPCs that belong to other AWS account holders. By performing cross account VPC peering, users ensure networks that host and communicate their data are secure. In his session at 20th Cloud Expo, Jay Gordon, a Developer Advocate at MongoDB, will explain how to properly architect your VPC using existing AWS tools and then peer with your MongoDB Atlas cluster. He'll discuss the secur...
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, 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. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
In his session at Cloud Expo, Alan Winters, an entertainment executive/TV producer turned serial entrepreneur, will present a success story of an entrepreneur who has both suffered through and benefited from offshore development across multiple businesses: The smart choice, or how to select the right offshore development partner Warning signs, or how to minimize chances of making the wrong choice Collaboration, or how to establish the most effective work processes Budget control, or how to m...
Deep learning has been very successful in social sciences and specially areas where there is a lot of data. Trading is another field that can be viewed as social science with a lot of data. With the advent of Deep Learning and Big Data technologies for efficient computation, we are finally able to use the same methods in investment management as we would in face recognition or in making chat-bots. In his session at 20th Cloud Expo, Gaurav Chakravorty, co-founder and Head of Strategy Development ...
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.
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of 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, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
SYS-CON Events announced today that Technologic Systems Inc., an embedded systems solutions company, will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Technologic Systems is an embedded systems company with headquarters in Fountain Hills, Arizona. They have been in business for 32 years, helping more than 8,000 OEM customers and building over a hundred COTS products that have never been discontinued. Technologic Systems’ pr...
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).
SYS-CON Events announced today that Loom Systems 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. Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in S...