High Ridge Resources Inc. Announces Memorandum of Understanding to Acquire an Option on Mineral Claims in Peru and New V.P. of Explorationadmin
High Ridge Resources Inc. announced that its recently incorporated Peruvian subsidiary, “Minera High Ridge Del Peru S.A.C.” has entered into a Memorandum of Understanding (MOU) to acquire an option on certain mineral claims located in central Peru.
The MOU grants Minera High Ridge Del Peru S.A.C.M the right to purchase 100% title to the concessions for US$2.0 million and 1.0 million shares of the Company in stages over 5 years. The final agreement is expected to close on or about the middle of February, subject to regulatory acceptance. There are no finder’s fees payable.
“Our initial acquisition in Peru will demonstrate HRR’s continued commitment to ‘selectively’ evaluate and acquire properties of merit ‘wherever’ we may locate them,” stated Gary Anderson, President of High Ridge Resources Inc.
The Company wishes to welcome geologist, Mr. Z. Adam Szybinski, Ph.D., to the position of V.P. of Exploration. Mr. Szybinski’s experience is in structural aspects of mineral deposits. During his geological career, which spans 30 years, he has been associated with Cominco Ltd. and Rio Algom Exploration Inc. and has worked in Mongolia, Poland, Canada, US and Peru. Most recently, Mr. Szybinski served as the Chief Geologist with Fairbank Engineering Ltd. and Nevada Geothermal Power Inc.
High Ridge Resources Inc. is focused on large scale exploration projects. The company currently has three mining exploration properties in British Columbia: Chuchi, located 32 km north west of Terrane Resources’ Mt. Milligan deposit; Newton Mountain, 35 km south of Alexis Creek and Silver Bay, 23 km south of former Silver-Lead-Zinc producer, Blue Bell mine.
ON BEHALF OF THE BOARD
HIGH RIDGE RESOURCES INC.
Gary Anderson, President and Chief Executive Officer
This News Release contains forward-looking statements regarding the timing and content of upcoming programs. Actual results may differ materially from those currently anticipated in such statements. The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Gary Anderson High Ridge Resources Inc. President & CEO (604) 689-9195 x222
Investor Inquiries High Ridge Resources Inc. (604) 689-9195 X223 or Toll Free: 1-800-689-9195 Email: firstname.lastname@example.org
Source: High Ridge Resources Inc.