VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 28, 2013) –
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Newstrike Capital Inc. (TSX VENTURE:NES) (“Newstrike” or the “Company”) it is pleased to announce that it has published its interim consolidated financial statements for the nine months ended April 30, 2013, and the related Management Discussion and Analysis document (MD&A).
The Company reports having a cash position of $22.3 million, with working capital of $22.9 million 63,311 as at April 30, 2013. During the nine months reported, the Company spent $11.1 in cash related to the development of its Ana Paula project in the State of Guerrero, Mexico, and other exploration programs. The Company reported a net loss for the nine months ended on that date of $639,775, or $0.01 per share.
Newstrike also announces that it has granted an aggregate of 2,450,000 stock options to its directors, officers, employees and consultants, pursuant to its Stock Option Plan. Each stock option is exercisable into one common share of the Company at a price of $0.70 per share for a period of 7 years from this date. The options will vest as to 20% on the date of grant and 20% every six months thereafter. The grant is subject to regulatory approval.
About Newstrike (TSX VENTURE:NES)
Newstrike Capital Inc. is a gold-silver focused explorer, targeting known and historic mining districts in Mexico. Key senior members of the Company’s current management and directors have participated in Guerrero Gold Belt discoveries, including Goldcorp Inc.’s producing Los Filos Mine and Torex Gold Resources advanced stage Morelos Project in Guerrero State.
Newstrike holds a 100% interest in certain exploration properties in Mexico located within established mining districts; the Au (Ag-Cu) skarn-porphyry camp of the Guerrero Gold Belt, and the polymetallic Pb-Zn-Ag (Au-Cu) rich epithermal camp of the mining districts of Oaxaca State.
The Ana Paula Project is central to Newstrike’s 88,000 hectare mineral claims located in the Guerrero Gold Belt and forms part of a district scale mining camp that is host to Torex Gold’s advanced Morelos Project and to Goldcorp’s producing Los Filos Mine. Ken Thorson, a director of the company and a qualified person under NI43-101 has reviewed the contents of this press release. The drill program and all project operations are conducted under the direction and supervision of Dr. Craig Gibson, PhD, CPG and qualified person under NI43-101.
Neither the TSX Venture Exchange (the “TSXV”) nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) has reviewed, nor do they accept responsibility for the adequacy or accuracy of, this release.
Certain of the statements made in this news release contain forward-looking information within the meaning of applicable Canadian securities law. Material forward-looking information includes, but is not limited to statements or information with respect to the resource estimate and potential future exploration and development results and results of studies in respect of the Company’s Ana Paula Project. We have made numerous assumptions about the material forward-looking information contained herein, including among other things, that prices of gold and silver will remain relatively stable, that applicable permits will be obtainable and that any required financing will be available on reasonable terms. Even though our management believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that the forward-looking statement or information will prove to be accurate. Forward-looking information by its nature involves known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results expressed or implied by such forward-looking information.
Such risks, uncertainties and other factors include, among others, the following: the inherent risks and uncertainty involved in the exploration and development of mineral properties; the uncertainties involved in interpreting drill results and other exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations; accidents, equipment breakdowns, labor disputes or other unanticipated difficulties with or interruptions in production and operations; fluctuating prices of metals and other commodities; currency fluctuations; the possibility of project cost overruns or unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; regulatory restrictions, including environmental regulatory restrictions and liability; competition and loss of key employees; political instability in Mexico; the availability of key equipment; the risk of disruption from non-governmental organizations; risks relating to our common shares and the public markets. Should one or more of these risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Although we have attempted to identify factors that would cause actual results to differ materially from those described in forward-looking information, there may be other factors that cause actual results, performances, achievements or events to not be as anticipated, estimated or intended. Also, many of the factors are beyond our control. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly you should not place undue reliance on forward-looking information. Except as required by law, we do not expect to update forward-looking information as conditions change and you are referred to the full discussion of the Company’s business contained in the Company’s reports filed with the securities regulatory authorities in Canada.
- Newstrike Capital Inc.
Director, President & CEO