VANCOUVER, BRITISH COLUMBIA, Oct 28, 2013 (Marketwired via COMTEX) — International Northair Mines Ltd. /quotes/zigman/186633 CA:INM -6.90% (“Northair” or the “Company”) is pleased to announce that its wholly-owned subsidiary, Grupo Northair de Mexico, S.A. de C.V. (“Grupo Northair”), has agreed to terms on an important access agreement (the “Agreement”) at its La Cigarra silver project (the “Property”), located in Chihuahua State, Mexico.
This latest Agreement provides the rights for Northair to conduct on-going exploration programs on a highly prospective area within a southern portion of the Property. This augments the land and surface agreements previously announced by the Company on September 11, 2013 (see INM PR#13-15). Furthermore, the Agreement provides the Company with road access that will significantly decrease the travel time between the La Cigarra silver project and the city of Parral.
“This access agreement is another important milestone in the development of our La Cigarra silver project,” said Fred Hewett, President & CEO of Northair. “Since the onset of exploration it has been very important to Northair to have the support of the local community and stakeholders. We look forward to maintaining these co-operative relationships as we move the Property forward.”
Exploration Update:
Field crews are continuing with programs designed to expand the known open 6 kilometre mineralized trend in anticipation of drill programs along strike from the published NI 43-101 Resource. Current work includes geological mapping and sampling; with soil and silt geochemical surveys and water sampling. Northair will provide updates as results become available.
About International Northair Mines Ltd.
Northair is a mineral exploration company engaged in the acquisition and development of gold and silver properties in Mexico. International Northair Mines Ltd.is focused on advancing its La Cigarra silver project located in the state of Chihuahua, which currently hosts a NI 43-101 Resource estimate of 50.4 million ounces of silver in the Measured & Indicated categories grading 76 g/t silver and 3.5 million ounces of silver in the Inferred category grading 61 g/t silver constrained by a Whittle pit shell at an economic cutoff grade of 30 g/t silver (assuming metallurgical recoveries of 84% silver). The La Cigarra silver deposit also contains appreciable amounts of lead, zinc and gold.
ON BEHALF OF THE BOARD, INTERNATIONAL NORTHAIR MINES LTD.
Fred G. Hewett, P.Eng., President & 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 news release.
This news release may contain forward looking statements which are not historical facts, such as statements regarding the use of proceeds, the closing date, ore reserve estimates, anticipated production or results, sales, revenues, costs, or discussions of goals and exploration results, and involves a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, metal price volatility, volatility of metals production, project development, ore reserve estimates, future anticipated reserves and cost engineering estimate risks, geological factors and exploration results. See Northair’s filings for a more detailed discussion of factors that may impact expected results.
This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Contacts:
International Northair Mines Ltd.
Fred Hewett
President
604-687-7545 or 1-888-338-2200
604-689-5041 (FAX)International Northair Mines Ltd.
Chris Curran
Manager of Corporate Communications
604-687-7545 or 1-888-338-2200
604-689-5041 (FAX)
[email protected]
www.internationalnorthair.com
SOURCE: International Northair Mines Ltd.
