CALGARY, ALBERTA--(Marketwired - March 11, 2015) - Margaux Resources Ltd. (TSX VENTURE:MRL) ("Margaux" or the "Corporation") reports that the Corporation has reached an agreement (the "Amending Agreement") with Sultan Minerals Inc. (TSX VENTURE:SUL) ("Sultan") to amend the option agreement (the "Option Agreement") dated November 8, 2013 between Sultan and Margaux granting Margaux an option to purchase 100% of the Jersey Emerald Property for payments totaling $4 million according to the terms set forth therein.
Pursuant to the Amending Agreement, the deadline for the payment of the option payment of $350,000 due March 15, 2015 which represents the second installment of the original option payment of $750,000 due November 8, 2014 has been extended to July 31, 2015. The first installment of $400,000 was paid on schedule on November 8, 2014. All other terms of the Option Agreement remain unchanged.
About Margaux Resources Ltd.: Margaux is a publicly traded mineral exploration company based in Calgary, Alberta. The Corporation has an option on the previously producing Jersey Emerald tungsten-zinc mine, located in southeastern British Columbia.
Forward-Looking Statements
This press release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the forgoing, this press release contains statements concerning the timing of the remaining option payments and the Corporation's ability to satisfy such payments.
Forward-looking statements or information are based on a number of material factors, expectations or assumptions of Margaux which have been used to develop such statements and information but which may prove to be incorrect. Although Margaux believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because Margaux can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties.
The forward-looking statements contained in this press release are made as of the date hereof and Margaux undertakes no obligations to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
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.
Contact Information:
Tyler Rice
President
(403) 537-5590