ST. JOHN'S, NEWFOUNDLAND--(Marketwired - Oct. 18, 2013) - Aurion Resources Ltd. ("Aurion") (TSX VENTURE:AU) reports that it has agreed to amend the Lavington property option agreement with Asher Resources Corp. (TSX VENTURE:ACN) and Cazador Resources Ltd. Aurion acquired a 100% interest in the Lavington copper-gold property from Cazador (see Press Release dated Oct 14, 2009) and subsequently optioned it to Asher in late 2011 (see press release dated Oct 24, 2011). Under the terms of the amendment, Asher has elected to accelerate its earn-in on the property by issuing to Aurion 650,000 common shares and issuing to Cazador 250,000 common shares in lieu of the next and final payments, subject to regulatory approval.
Following the share issuances, Asher will have a 100-per-cent legal and beneficial interest in the Lavington property subject to completing its final work commitment by June 30, 2014. An advance royalty payment of $40,000 per annum will remain payable to Cazador and a 2-per-cent net-smelter-returns royalty has been reserved to each of Aurion and Cazador.
Mike Basha, P.Eng., P.Geo., President and CEO of Aurion, a Qualified Person as defined by National Instrument 43-101, is responsible for the preparation of this release.
Certain statements contained in this release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Companies' current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. The forward-looking information contained in this release is made as of the date hereof and Aurion is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
On behalf of the Board,
Mike Basha, President & 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.