M45 Mining Resources Inc. Provides Update on Negotiations to Finance Drilling Program in Matagami Mining Camp Pursuant to Positive NI-43-101 on West Wind Propertyadmin
M45 Mining Resources Inc. announced that negotiations with a US-based Finance Group to fund the drilling program in the Matagami Mining Camp are proceeding on schedule and should be finalized in short order. This financing initiative is pursuant to the publication of the NI-43-101 report on the West Wind Property, which is contained in the Company’s Form 8-K filed on June 12, 2007.
Management stated that the Company has received several offers from various parties to fund the operation but has narrowed it down to 2 parties with whom it has engaged in negotiations to form an equity partnership. Management forecasts that the closing of an agreement is imminent for the sum of $5 million.
The independent geologist firm has validated that the discovery of a high potential for sizable mineral deposits (i.e. 6 major anomalies) on the West Wind Property is of sufficient merit to recommend an immediate massive drilling program at a cost of $2.8 million CDN. The NI-43-101 report stipulates that the drilling operations must be executed between January and the end of March 2008 because some of the key targets are positioned in swampy areas. Ice platforms and bridges are economically advantageous as well.
Management would like to inform its shareholders that M45 financial statements published on the Yahoo! Finance Website have been posted by an external third party without the Company’s approval and are not accurate and do not reflect in any way the Company’s current status. M45′s attorneys and management are currently investigating this issue and will take all the necessary actions in order to identify the involved parties and to prevent any further inaccurate and unauthorized releases.
For accurate information shareholders may visit the SEC Website at www.sec.gov or via the link on M45′s Corporate Web site at www.m45mining.com. Alternatively, contact Mr. Jean Minville, Investor Relations at (888) 727-8569 or via email at firstname.lastname@example.org.
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company’s stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results.
Contact: Mr. Jean Minville Investor Relations (888) 727-8569