Toronto, Ontario (FSCwire) – VENDOME RESOURCES CORP. (“Vendome” or “Company”) (TSXV:VDR, FRANKFURT:9VR), a Toronto, Canada based minerals exploration company with key exploration assets in Guerrero State, Mexico and the Borden Lake Gold District, Ontario, Canada, is pleased to announce, that subsequent to receipt of the customary regulatory approvals, it has finalized an agreement with Camsim Minas S.A. de C.V., (“Camsim”) of Mexico City, Mexico, to acquire a 100% interest in the 14,722 hectares “La Diana” Concession, by terminating all obligations under a previous option agreement dated September 2, 2010, in consideration for the issuance of 12,000,000 common shares of Vendome. No additional compensation, cash payments, future production royalties or any other consideration will be paid in connection with this transaction.
Chief Executive Officer of Vendome, Mr. John Priestner commented, “The La Diana concession is located in the heart of the highly prolific Sierra Madre del Sur precious metals belt in Southern Mexico. This acquisition is part of the company’s strategy to acquire a 100% undivided ownership interest in mineral concessions that we believe to have unusually high exploration potential in known precious metals districts. We will continue to aggressively pursue additional acquisition opportunities as they become available with a view to building shareholder value in the most efficient and cost-effective manner possible.”
In accordance with TSXV Policy 4.1, the company also announces that it has withdrawn its private placement offering as previously announced on June 13, 2014.
Vendome is a mineral exploration company located in Toronto, Canada. Our primary focus is to advance our flagship properties, San Javier, La Diana and San Miguel, located in the heart of the Sierra Madre del Sur precious metals belt, in the State of Guerrero, Mexico. The three properties encompass an area of over 17,000 hectares and have reported high grade silver samples of up to 15,000 g/t.
Vendome also owns minerals claims in the center of the Borden Lake Gold District in Ontario, Canada, known as our Ivanhoe Lake Property. Recently, Probe Mines Inc. (TSXV:PRB) made a major gold discovery in the Borden Lake Gold District, within the Kapuskasing Structural Zone (“KSZ”), which is located 60 kilometers southwest of our wholly-owned Ivanhoe Lake claims. Ivanhoe Lake is situated in the KSZ, shares the same geological formation with Probe and is on strike with Probe’s multi-million ounce gold deposit. Ivanhoe Lake has emerged as a new focus area for our team.
Vendome Resources Corp. is managed by an experienced team of mining professionals with extensive operating and financial experience.
ON BEHALF OF VENDOME RESOURCES CORP.
W. John Priestner
President & Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statements:
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.
This news release contains "forward-looking information" including statements with respect to the future exploration performance of the Company. This forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements of the Company, expressed or implied by such forward-looking statements. These risks, as well as others, are disclosed within the Company’s filing on SEDAR, which investors are encouraged to review prior to any transaction involving the securities of the Company. Forward-looking information contained herein is provided as of the date of this news release and the Company disclaims any obligation, other than as required by law, to update any forward-looking information for any reason. There can be no assurance that forward-looking information will prove to be accurate and the reader is cautioned not to place undue reliance on such forward-looking information.
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Source: Vendome Resources Corp (TSX Venture:VDR)