Brionor Resources Inc.

Brionor Resources Inc.

October 29, 2013 15:50 ET

Brionor Grants Consent to Atala for Acquisition of AuEX Argentina S.A. from Renaissance Gold Inc. and Agrees to Renegotiate Acquisition Terms of Atala

TORONTO, ONTARIO--(Marketwired - Oct. 29, 2013) - Brionor Resources Inc. (TSX VENTURE:BNR) ("Brionor" or the "Company") announces that it has granted its consent to Atala Resources Corp. ("Atala") to enter into an agreement ("LOI") with Renaissance Gold Inc. ("RenGold") to acquire a 100% interest in AuEX Argentina S.A., a wholly owned subsidiary of RenGold, in exchange for cash, stock, and a retained royalty interest. (for greater details, please see RenGold's press release dated today October 29, 2013). This acquisition significantly expands the project portfolio to be acquired by Atala, from what was originally contemplated in an Earn-in Agreement negotiated between Atala and RenGold in 2012, and is the foundation of the transaction as contemplated between Brionor and Atala. As such Brionor and Atala are renegotiating the terms of the previously announced acquisition of Atala (the "Acquisition" - see Brionor press release dated February 20, 2013 for details) and will provide an update once revised commercial terms have been agreed to.

Brionor is a junior mining exploration company with a portfolio of exploration projects in Québec.

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.

Contact Information

  • Brionor Resources Inc.
    Lewis Lawrick
    President & CEO

    Brionor Resources Inc.
    Robert Ayotte
    Executive Chairman