- Maricunga Project
- Maricunga (DFS)
Bearing Resources Ltd. ("Bearing", or the "Company") (TSX-V Symbol BRZ.V) is pleased to announce that the Company will begin trading on the TSX Venture Exchange on June 10, 2011. Bearing will trade under the symbol "BRZ" and upon listing will have 8,975,362 shares issued and outstanding.
As previously announced on March 28, 2011, Valley High Ventures Ltd. ("Valley High") and Levon Resources Ltd. ("Levon") completed a Plan of Arrangement under which Levon acquired 100% of the outstanding common shares of Valley High. Under the Arrangement, Valley High shareholders received 1.0 share of Levon and 0.125 of a share in a new exploration company, Bearing, for each Valley High share.
Bearing is a Canadian based precious and base metal exploration company with projects located in British Columbia, the Yukon and Mexico. The Mount Polley and October Dome projects are located in British Columbia adjacent to Imperial Metals Corporation's ("Imperial") Mt. Polley copper-gold mine and includes a production royalty on the Boundary property, with Imperial. In the Yukon, Bearing has an option to acquire a 100% interest in the Flume gold property which is located within the newly recognized White Gold District. Ryan Gold Corp. has been granted a right to earn up to 75% interest in Bearing's interest in the Flume property. Bearing also holds a portfolio of Yukon exploration properties located near Golden Predator's Clear Creek gold project and Northern Tiger's 3Ace gold project. In addition, Bearing is conducting generative exploration in Mexico.
Geoff Chater, President and CEO commented, "Bearing offers its existing and future shareholders the opportunity to participate in a robust precious and base metals exploration portfolio. We will continue to grow our portfolio in the near term and with field work already active in all areas, we look forward to a busy 2011.
BEARING RESOURCES LTD.
Geoff Chater President & CEO
For further information please visit Bearing's website at www.bearingresources.ca or contact Geoff Chater at (604) 614-7830 or firstname.lastname@example.org
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to the listing date and exercise of the Company's option agreements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of Bearing to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual prices of commodities, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in documents filed from time to time with the securities regulators in the applicable Provinces of British Columbia and Alberta.
"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."