Anglo-Bomarc Mines Ltd.
TSX VENTURE : ANB

Anglo-Bomarc Mines Ltd.

May 06, 2013 09:01 ET

Anglo-Bomarc Mines Ltd. Converts to 20% Net Profits Interest on Hercules Property

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 6, 2013) - Anglo-Bomarc Mines Ltd. (TSX VENTURE:ANB) (the "Company" or "Anglo") is pleased to announce that in order to focus its capital expenditures on its 10% working interest in the emerging Hughes Lake Uranium project joint venture partnership with Cameco Corp. and AREVA Resources Canada Inc., Anglo's board of directors have deemed that it is in the best interest of the Company not to continue to participate in its joint venture with First Idaho Resources on the Hercules property. On April 1, 2013 the company gave notice to First Idaho Resources Inc. of its intention not to participate in any current or future work program or programs on the Hercules property or provide any additional expenditures of its proportionate share. Pursuant to the terms and conditions of the 1983 joint venture agreement between Anglo-Bomarc US, a wholly owned subsidiary of Anglo-Bomarc Mines Ltd. and First Idaho Resources Inc. the two parties have elected to convert Anglo US's 50% working interest to a 20% net profit interest. Anglo will therefore no longer be responsible for any current or future expenditures related to work programs undertaken on the Hercules property. The new agreement is effective as of April 15, 2013.

For further information on Anglo-Bomarc's Hughes Lake Uranium Project and the ongoing $4 million 2013 work program please visit www.Anglo-BomarcMines.com. Anglo-Bomarc's management and board of directors wish First Idaho the best of luck on its upcoming work program.

We seek safe harbor.

Anglo-Bomarc Mines Ltd.

Russell Marshall, President and CEO

Neither the 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.

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