Explor Resources Inc.

Explor Resources Inc.

July 17, 2007 15:03 ET

Explor Acquires Montrose/Midlothian Township Property

ROUYN-NORANDA, CANADA--(Marketwire - July 17, 2007) - Explor Resources Inc. (TSX VENTURE:EXS) is pleased to announce the acquisition One Hundred and Fifty (150) Units Mineral Claim Package comprising of Eleven (11) Mineral Claims situated in Montrose and Midlothian Township in the Larder Lake mining division, district of Cochrane, province of Ontario.

Explor Resources inc., will pay a total of $62,000 CDN and issue 600,000 common shares over a 2 year period for an Option to acquire 100% interest in the Montrose and Midlothian Township mineral claims. The Optionee has retained a 2.0% NSR in the property. This acquisition is subject to regulatory approval.

The Claims are located in the southern part of Montrose Township and the northern part of Midlothian Township approximately 8 kilometres northwest of the town of Matachewan. The property is approximately 64 km west of the city of Kirkland Lake, Ontario. Excellent access is provided by Hwy 66 from Kirkland Lake. The property covers an area of approximately 2,429 hectares. The most obvious feature in the area is the Young Davidson Mine 10 kilometres to the east of the property. Northgate is currently spending $5,000,000 on exploration on the Young Davidson Mine as per the Northgate website.

The property is located in a greenstone belt composed mainly of sequences of meta-sedimentary rocks descriptively similar to the Temiskaming meta-sedimentary rocks found in the Kirkland Lake area. The area is characterized by a wide northeast deformation zone of shearing. The claims are located in an area with very little overburden. A series of untested airborne anomalies have been observed on the property.

Explor plans on conducting a two phase exploration program. Phase I is designed to better determine the location of the structural targets via review of existing technical information, ground exploration, outcrop sampling and geophysics. Phase II will consist of diamond drilling the identified target or targets.

Chris Dupont P.Eng is the qualified person responsible for the information contained in this release.

About Explor Resources Inc.

Explor Resources Inc. is a Canadian-based natural resources company with mineral holdings in Ontario, Quebec and Saskatchewan. Explor is currently focused on exploration in the Abitibi Greenstone Belt. The belt is found in both provinces of Ontario and Quebec with approximately 33% in Ontario and 67% in Quebec. The Belt has produced in excess of 180,000,000 ounces of gold and 450,000,000 tonnes of cu-zn ore over the last 100 years. The Company is headquartered in Quebec and was incorporated in Alberta in 1986.

Explor Resources Inc. is a public listed company trading on the TSX Venture (EXS).

This press release was prepared by Explor Resources inc. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Explor Resources Inc.
    Christian Dupont
    800-388-8668 or 819-797-4630
    CHF Investor Relations
    Cathy Hume
    Vice President