TORONTO, ONTARIO--(Marketwire - Jan. 7, 2013) - Deveron Resources Ltd. (TSX VENTURE:DVR) ("Deveron" or the "Company") is pleased to provide an update on recent activities and future plans.
Deveron has completed all required work to earn a 100% interest in the Nechako property, subject to a 2% net smelter return royalty payable to the underlying vendor and a 1% net smelter return royalty payable to Greencastle Resources Ltd. (TSX VENTURE:VGN). Assays are pending on rock, soil and silt samples collected late in 2012.
Since Deveron's successful Initial Public Offering in November 2012, management has been focused on advancing the Nechako property and evaluating new project opportunities with the objective of securing a second project. Deveron has 11,794,505 common shares issued and outstanding. Greencastle Resources owns 7,569,505 shares or 64%.
The Nechako property, covering approximately 13,000 hectares (28 claims), is located approximately 100 kilometres southwest of Vanderhoof, central British Columbia, in the developing Blackwater gold camp, where New Gold Inc. has recently delineated an open-pit resource of over 10 million ounces of gold.
For more information, please visit www.greencastleresources.com.
This news release includes certain "forward looking statements" within the meaning of that phrase under Canadian securities laws. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. Forward-looking statements reflect management's current views with respect to possible future events and conditions and, by their nature, are based on management's beliefs and assumptions and subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in such forward-looking statements are reasonable, such statements are not guarantees of future performance and actual results or developments may differ materially from those in our forward-looking statements. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of commodities, general market conditions, risks inherent in exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. Additional information regarding the material factors and assumptions that were applied in making these forward looking statements as well as the various risks and uncertainties we face are described in greater detail in the "Risk Factors" section of our annual and interim Management's Discussion and Analysis of our financial results and other continuous disclosure documents and financial statements we file with the Canadian securities regulatory authorities which are available at www.sedar.com. The Company undertakes no obligation to update this forward-looking information except as required by applicable law. The Company relies on litigation protection for 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.
Deveron Resources Ltd.
416-367-4571 ext. 233