First Pursuit Ventures Ltd.

June 24, 2009 10:38 ET

First Pursuit Receives NEX Approval of Mexican Mineral Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 24, 2009) - First Pursuit Ventures Ltd. ("First Pursuit" or the "Company") (NEX:FPV.H) is pleased to announce that, as announced in its news release of May 8, 2009, it has received the approval of the NEX Board of the TSX Venture Exchange (the "Exchange") for the acquisition of a 100% interest in the La Tuna prospect located 50 km east of Ciudad Obregon, Sonora, Mexico (the "Property"). The Company's wholly-owned subsidiary, First Pursuit Ventures de Mexico, S.A. de C.V. has entered into an Exploration Agreement and Option to Purchase Agreement (the "Agreement") with a Mexican vendor wherein the vendor will retain a 2% NSR on the prospect, subject to the right of the Company to purchase one-half of the NSR (namely a 1% NSR) for US$1,000,000 for 5 years upon signing of the Agreement. An additional 1% NSR is payable to the vendor. The acquisition is at arm's length. In addition, finder's fees will be paid to two arm's length finders, pursuant to the Agreement and Exchange guidelines.

First Pursuit has on June 23, 2009 filed a 43-101 Report on SEDAR and will remain on the NEX Board until such time it has expended a minimum of $100,000 exploration work on the Property before it makes application to graduate to Tier 2 of the Exchange.


Terry Fields, President and Director

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 release.

Contact Information

  • First Pursuit Ventures Ltd.
    Investor Relations
    (604) 685-6905 (FAX)