Vior Inc.

Vior Inc.

December 05, 2007 14:58 ET

Vior Acquires New Molybdenum Property in Chibougamau Area

QUEBEC CITY, QUEBEC--(Marketwire - Dec. 5, 2007) - Vior Inc. ("Vior") (TSX VENTURE:VIO)(FRANKFURT:VL5) is pleased to announce the signing of an agreement with Larry Desgagne (the "Vendor") pursuant to which Vior can acquire a 100% interest in the Lac Sebastien molybdenum property located southwest of Chibougamau, Province of Quebec.

The Property

The Lac Sebastien property is located approximately 50 kilometres southwest of the Town of Chibougamau in the Superior geological province, one of the most promising areas in Quebec for the discovery of molybdenum porphyry mineralization. The property comprises 35 claims covering approximately 1950 hectares and is easily accessible by all-weather forestry roads.

The property hosts the Cere molybdenum showing discovered in 1967. The molybdenum and pyrite mineralization zone has a N120 orientation with a steep southwest dip. The molybdenite mineralized zone measures 1 metre in width while the pyrite zone measures 3.5 metres in width. Recent sampling returned values of up to .82% Mo from chosen samples. The mineralized zone is hosted by a porphyritic intrusion.


Mainly used as an effective alloy metal in steel manufacturing, Molybdenum demand has soared over the last few years resulting in much higher prices. From a floor price of approximately US$2.50/lb in 2001, molybdenum oxide prices rose to more than US$45.00/lb in 2005 to stabilise at current prices of US$30/lb. Recent reports also suggest that molybdenum prices could hold at these higher levels in the future creating a favourable climate for molybdenum exploration.

This acquisition follows our strategy which is focussed on the discovery of economic orebodies in known and accessible mining areas with the use of advanced exploration techniques.

The Agreement

Under the terms of the agreement, Vior has the option to acquire a 100% interest in the Lac Sebastien property upon fulfilling the following conditions:

- A cash payment of $25,000 upon signing of the agreement and further optional payments of $25,000 on the 12th and 24th month following the signature of the agreement and a final optional cash payment of $25,000 on the 36th month following the signature of the agreement.

- The issuance of 150,000 common shares of Vior in favour of the Vendor at the signature of the agreement; the optional issuance of 100,000 additional shares on the 12th and 24th month following the signature of the agreement and the final optional issuance of 250,000 shares on the 36th month following the signature of the agreement for a total of 600,000 common shares.

- Exploration expenditures of $50,000 during the first 12 months of the agreement and additional expenditures of $50,000 during the following 24 months and $100,000 during the following 36 months for a total amount of $200,000.

- A 1% NSR royalty if the property is brought into commercial production. One half of this royalty can be repurchased at any time for $1.25 million.

This agreement is subject to the approval of the regulatory authorities. The common shares issued under the terms of this agreement are subject to a four-month hold period after the signature of the agreement.

This press release was prepared by Denis Chenard, Eng. a Qualified Person as defined by National Instrument 43-101.


Vior Inc. is a growing mining company focused on acquiring and developing high quality, low risk gold and base metal resource prospects in accessible mining areas of Quebec. The Company wholly owns the Douay West gold project which is at a pre-feasibility stage and other gold and base metal exploration interests in prime locations. The Company is aggressively pursuing opportunities to develop working interests in mineral properties that offer significant upside exploration potential. CVRD Inco Limited is the largest shareholder of Vior with a 12% interest.

The TSX Venture Exchange (TSX Venture) does not accept responsibility for the adequacy or accuracy of this Press Release

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