MONTREAL, QUÉBEC--(Marketwired - Dec. 10, 2013) - Donner Metals Ltd. ("Donner" or the "Company") (TSX VENTURE:DON)(FRANKFURT:D4M), is pleased to announce the execution of an option agreement with Midland Exploration Inc. ("Midland") for the Valmond gold property, currently wholly owned by Midland. The Valmond property consists of 62 claims covering a surface area of about 35 square kilometres. This property is located about 50 kilometres west of the town of Matagami, in Abitibi, Quebec.
Under the terms of this new agreement, Donner may earn 50% of Midland's interest over a period of four (4) years, by fulfilling the following conditions:
- Cash payments totalling $250,000, including a $20,000 payment upon signing the agreement;
- Exploration expenditures totalling $2,500,000, including a firm commitment of $300,000 during the first year.
Midland will be project operator during the option period. The Valmond property covers, over more than 10 kilometres, an important gold-bearing structure trending NW-SE, which hosts several historical gold occurrences with drill intercepts grading 2.3 g/t Au over 4.57 metres and 5.22 g/t Au over 1.55 metres. This structure has seen very little exploration in the past and the main showing known to date has been traced over more than 300 metres along strike. This gold showing is characterized by an extensive hydrothermal alteration zone more than 70 metres wide, and remains open beyond 200 metres vertical depth, where the deepest drill hole yielded a grade of 3.77 g/t Au over 1.50 metres. In addition, a recent helicopter-borne magnetic survey covering the entire property was used to generate a new detailed structural interpretation and identify several new promising exploration targets.
Over the coming weeks, geophysical work including a ground-based induced polarization survey (50 km) and a helicopter-borne electromagnetic survey (900 km) will be completed to define new drilling targets along the extensions of the main gold occurrences. The property is expected to be drill ready in early 2014.
Maps showing the location of the new option agreement with Donner for the Valmond property may be consulted using the following link: http://www.midlandexploration.com/en/sites/Midland/CustomPage.aspx?Section=0&ResourceId=d77713d0-79fc-4396-9d71-662fe39aa01a
About Donner Metals
Donner is an exploration company focused on the development of mineral exploration projects in Quebec.
This press release was prepared by Normand Champigny eng., acting as Donner's Qualified Person under NI 43-101.
ON BEHALF OF THE BOARD OF DONNER METALS LTD.
Normand Champigny, President & Chief Financial Officer
This news release contains forward-looking information within the meaning of applicable Canadian securities laws. All information other than historical fact is forward-looking information. Forward-looking information relates to future events or future performance and is based on Donner's current internal expectations, estimates, projections, assumptions and beliefs. Forward-looking information is often, but not always, identified by the use of words such as "expect", "project", "proposed", "intend", "seek", "anticipate", "budget", "plan", "continue", "estimate", "forecast", "may", "will", "predict", "potential", "targeting", "could", "might", "should", "believe" and similar expressions. Although management considers the assumptions and estimates, reflected in forward-looking information, to be reasonable, based on information currently available, there can be no assurance that such information will prove to be correct. As a consequence, actual results may differ materially from those anticipated.
Undue reliance should not be placed on forward-looking information which is inherently uncertain, and subject to known and unknown risks and uncertainties (both general and specific) and other factors that contribute to the possibility that the future events or circumstances contemplated by the forward looking information will not occur or that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. These risks include, but are not limited to risks associated with general economic conditions, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future metal prices, financial risks and substantial capital requirements. Further information regarding certain of these risks (as well as risks relating generally to the Company's business) may be found under the heading "Financial risk factors" in the Company's Management's Discussion & Analysis. Readers are cautioned that the foregoing list of factors that may affect future results is not exhaustive. The forward-looking statements contained in this news release are made as of the date hereof and Donner does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
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