Yale Resources Ltd. (TSX-V — YLL, OTCBB — YRLLF, and FSE — YAB) is pleased to provide a summary of its activities in 2012 and give an overview of its plans for 2013.
In calendar year 2012 Yale generated revenue of approximately $343,000 as a result of cash payments and management fees from optionees, sale of shares in optionees, sale of projects, oil and gas revenue, and consulting for third party companies. Total Expenditures by optionees on our projects in 2012 was $537,228, with a majority of that being expended within the first 8 months of the year.
“The combination of the revenue and exploration expenditures funded by our optionees during 2012 amounts to the equivalent of approximately 35,200,000 shares, on a fully diluted basis, in financings at $0.05 that Yale would have been required to add to the capital of the Company — a 40 % dilution in the Company that didn’t happen — continuing to prove the value of our business model,” stated Ian Foreman, P.Geo., president of Yale Resources. “There has been almost no dilution of Yale shares as the Company has not financed in 3 years.”
Moving forward in 2013, the Company anticipates optionee-funded work programs on at least three projects with Yale as the current operator on each of those projects. In addition, the Company continues to review opportunities to add to its portfolio of projects.
About Yale Resources:
Yale Resources utilizes the project generator business model to maximize its exposure to discovery while minimizing shareholder risk. Yale currently has six projects in its portfolio of which three are optioned out with commitments totalling approximately $1.0 M in expenditures during the next 12 months.
On behalf of the Board,
“Ian Foreman”
Ian Foreman, P.Geo.
President
In calendar year 2012 Yale generated revenue of approximately $343,000 as a result of cash payments and management fees from optionees, sale of shares in optionees, sale of projects, oil and gas revenue, and consulting for third party companies. Total Expenditures by optionees on our projects in 2012 was $537,228, with a majority of that being expended within the first 8 months of the year.
“The combination of the revenue and exploration expenditures funded by our optionees during 2012 amounts to the equivalent of approximately 35,200,000 shares, on a fully diluted basis, in financings at $0.05 that Yale would have been required to add to the capital of the Company — a 40 % dilution in the Company that didn’t happen — continuing to prove the value of our business model,” stated Ian Foreman, P.Geo., president of Yale Resources. “There has been almost no dilution of Yale shares as the Company has not financed in 3 years.”
Moving forward in 2013, the Company anticipates optionee-funded work programs on at least three projects with Yale as the current operator on each of those projects. In addition, the Company continues to review opportunities to add to its portfolio of projects.
About Yale Resources:
Yale Resources utilizes the project generator business model to maximize its exposure to discovery while minimizing shareholder risk. Yale currently has six projects in its portfolio of which three are optioned out with commitments totalling approximately $1.0 M in expenditures during the next 12 months.
On behalf of the Board,
“Ian Foreman”
Ian Foreman, P.Geo.
President
For additional information on Yale Resources please call the Company at 604-678-2531
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.
Statements in this press release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the 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.
Statements in this press release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
