VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 14, 2014) - Falco Pacific Resource Group Inc. ("Falco Pacific" or the "Company") (TSX VENTURE:FPC) advises its shareholders that Vancouver-based Goldcorp Inc. yesterday announced an unsolicited takeover offer for Osisko Mining Corporation, a major shareholder of the Company. Osisko controls 11.4% of the issued and outstanding shares of Falco Pacific, operates the Canadian Malartic Gold Mine located 80 kilometres east of Falco Pacific's Rouyn-Noranda Project and is also the owner of the pre-production Upper Beaver gold-copper deposit located 60 kilometres west of Falco's Rouyn-Noranda Project.
In a press release announcing the acquisition, Goldcorp President and CEO Chuck Jeannes emphasizes the attractiveness of Quebec based mining assets. "We are particularly pleased to be making a further substantial investment in the Province of Quebec, one of the best mining jurisdictions in the world. Goldcorp will be the largest gold producer in the province with the resources to continue building collaborative, long-term relationships while leveraging corporate and regional synergies".
Falco Pacific is currently in the final stages of preparation of the maiden NI43-101 resource for the Horne 5 Deposit, which represents the largest, partially developed gold deposit in the southern portion of the Abitibi greenstone belt. Horne 5 is one of a number of known zones of gold and gold-base metal mineralization which forms the Horne Mine Complex, centered around the former producing Horne copper-gold deposit. The initial NI43-101 resource estimate for the Horne 5 Deposit is anticipated to be delivered first quarter of 2014 and the Company has already begun the process of compiling the data to allow the incorporation of a number of other nearby zones/deposits into the resource model for the Horne Mine Complex. Falco has currently inputted in excess of 10,000 historical drill holes into the new resource model.
About Falco Pacific Resource Group
Founded in 2012 with the acquisition of the 728 square kilometre Rouyn-Noranda Project in Quebec, Falco Pacific is led by a veteran exploration team and is focussed on the evaluation of precious and base metal targets in one of the world's great mining camps.
For more information, please go to www.falcopacific.com.
On behalf of the Board of Directors of FALCO PACIFIC RESOURCE GROUP
Kelly Klatik, President and 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 press release.
This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements include terms of the transaction, including acquisition costs, shares to be issued and approval of the TSX Venture Exchange and future plans. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include those risks set out in the Company's public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
This news release contains information with respect to adjacent or similar mineral properties in respect of which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has not interest in or right to acquire any interest in any such properties, and that mineral deposits on adjacent or similar properties are not indicative of mineral deposits on the Company's properties.