Everton Resources Inc.
TSX VENTURE : EVR
FRANKFURT : ERV
OTCQX : EVRRF

Everton Resources Inc.

November 07, 2013 09:00 ET

Everton Resources Inc.: Hecla Mining Renews Its Option on the Opinaca A & B and Wildcat Gold Properties, James Bay Region, Quebec

OTTAWA, ONTARIO--(Marketwired - Nov. 7, 2013) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Everton Resources Inc. ("Everton" or the "Company") (TSX VENTURE:EVR)(FRANKFURT:ERV)(OTCQX:EVRRF) is pleased to report that Hecla Quebec Inc. ("Hecla"), a wholly owned subsidiary of Hecla Mining Company, has announced its intent to renew for a third year its option on the Opinaca A & B and Wildcat (1 to 7) gold properties located in the Eleonore mining camp, James Bay region, Quebec.

Hecla has the option to earn up to 60% interest in the Opinaca properties from Everton and Azimut Exploration Inc., each company currently owning a 50% interest in the properties. Helca has the option to earn up to a 65% interest in the Wildcat properties from Everton. Everton has a 100% undivided interest in the Wildcat properties.

According to the original agreement (see press release of September 16, 2010), Aurizon Mines (now Hecla) was required to perform $6,000,000 of work expenditures on Opinaca including 5,000 metres of diamond drilling over four years to earn an initial 50% interest and was required to perform $3,250,000 of expenditures on Wildcat. While the terms to earn the initial 50% interest on both the Opinaca and Wildcat properties remain the same, the work schedule has been extended by two years. So far, approximately $3,200,000 has been spent on Opinaca and $ 1,800,000 on Wildcat.

The Opinaca A & B and Wildcat (1 to 7) properties are in close proximity to Goldcorp's Eleonore major deposit where gold reserves and resources are estimated as follows: probable reserves of 12.48 Mt at 7.56 g/t Au (3.03 Moz of gold), measured and indicated resources of 1.36 Mt at 10.95 g/t Au (0.48 Moz of gold), and inferred resources of 12.25 Mt at 10.60 g/t Au (4.17 Moz of gold) (as of December 31, 2012, Goldcorp website). Production at Eleonore is scheduled to begin in 2014 with an estimated average of 600,000 ounces of gold per year.

André Audet, Chairman and Chief Executive Officer of the Company said, "Everton is pleased that Hecla is moving the project forward, continuing with its earn in option for a 3rd year and planning an exploration program in 2014."

About Everton Resources Inc.

Everton is actively exploring in the Dominican Republic adjacent to the Pueblo Viejo Mine, owned by the world's two largest gold mining companies, Barrick Gold Company (60%) in partnership with Goldcorp Inc. (40%) ("Goldcorp"). Everton also holds an interest in the Opinaca region of James Bay, Quebec where the Company has partnered with Hecla Mining Company (formerly Aurizon Mines Ltd.) which is advancing Everton's interest by funding 100% of all exploration work on one of the largest land packages adjacent to Goldcorp's Eleonore gold deposit.

For further information on Everton Resources Inc., please visit www.evertonresources.com.

This news release contains certain forward-looking statements that involve risks and uncertainties, such as statements of Everton's plans, objectives, strategies, expectations and intentions. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to Everton, or its management, are intended to identify such forward-looking statements. Many factors could cause Everton's actual results, performance or achievements to be materially different any future results, performance or achievements that may be expressed or implied by such forward-looking statements. The forward-looking statements included in this press release represent Everton's views as of the date of the release. While Everton anticipates that subsequent events and developments may cause its views to change, it specifically disclaims any obligation to update these forward-looking statements, except in accordance with applicable securities laws. Accordingly, readers are advised not to place undue reliance on forward-looking information. All subsequent written and oral forward-looking statements attributable to Everton or persons acting on its behalf are expressly qualified in their entirety by this notice.

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