Nevoro Inc.
TSX : NVR

Nevoro Inc.

June 01, 2009 13:35 ET

Nevoro to Option Nevada Projects to Golden Predator

TORONTO, ONTARIO--(Marketwire - June 1, 2009) - Nevoro Inc. (TSX:NVR) ("Nevoro") announces its wholly owned Nevada subsidiary, Nevoro Nevada Inc., has signed a Letter of Intent ("LOI") with Golden Predator Mines US Inc., a wholly owned Nevada subsidiary of Golden Predator Royalty and Development (TSX VENTURE:GPD) ("Golden Predator"), to acquire up to a 75% interest in Nevoro's portfolio of eight Nevada properties, at least four of which present well-defined high grade bonanza gold opportunities. The eight properties covered by the LOI are: St. Elmo, Dome Hill, Silver King, Eagleville, Jenny Hill, Germany Canyon, Cedar and Stealth. All are located in the State of Nevada except for Dome Hill, which straddles the Nevada-California border.

The properties cover a total of 1,234 claims with at least four of the above mentioned properties immediately being considered for inclusion into Golden Predator's current aggressive bonanza quartz-gold vein drilling program. These include:

St. Elmo: This advanced exploration property covers approximately 8,645 acres in Elko County, NV. Several vein targets are present including the St. Elmo vein, which can be traced for over 1,100 ft in outcrop with select samples containing up to 2.13 oz/t gold from outcrop and old underground workings. Hazen Research (Denver) reported a head grade of 2.36 oz/t gold and 1.15 oz/t silver for a 360 kg stockpile sample submitted for metallurgical tests by Harrison Western Mining.

Dome Hill: The property covers approximately 3,049 acres straddling the Mineral County (NV) and Mono County (CA) border and consists of multiple zones of quartz veining and quartz breccias up to 80 feet wide within zones of intense alteration and silicification. Select sampling by Nevoro from old mine dumps on the Maybell zone contain up to 0.59 oz/t gold.

Eagleville: This property hosts a series of northwest-trending quartz veins explored by more than 8,000 feet of historical underground workings. One of four historical surface drill holes intersected 3.28 ft of 0.17 oz/t gold at a depth of 216 ft and a second hole hit 1.3 ft of 0.96 oz/t gold at 155 ft depth.

Jenny Hill: This property covers 3,640 acres approximately halfway between the Rawhide and Paradise Peak gold mines in Mineral County, NV. Four styles of mineralization are present with quartz veins having visible gold reported.

Subject to satisfactory due diligence, Golden Predator can earn an initial 51% interest in each of the properties by spending $1.5 million on any or all of the properties within 30 months of the signing of a definitive Exploration and Option to Joint Venture Agreement (EOJV). Golden Predator will assume the obligations of Nevoro in any underlying property agreements and the payment of BLM claim maintenance fees. Upon completion of the initial 51% earn in, the Company can earn an additional 24% interest in the property portfolio, increasing to 75% by spending an additional $3 million dollars during the three year period following the initial earn in.

Commenting on the acquisition, William Schara, President and CEO of Nevoro stated, "This agreement allows the development of our high-grade bonanza gold targets to continue as Nevoro focuses on its primary Stillwater Ni-Cu-Co-Cr-PGE and Moonlight Cu-Au-Ag projects. It increases our total resources to see both Nevoro's gold and primary projects moved ahead more quickly."

The qualified person under National Instrument 43-101 responsible for all technical data reported in this news release is Mr. Mel Klohn, Executive Vice President, Exploration and Director for Nevoro Inc.

CAUTIONARY STATEMENT: All statements, other than historical fact, contained or incorporated by reference in this news release, including any information as to the future financial or operating performance of Nevoro, constitute "forward looking statements" within the meaning of certain securities laws, and are based on expectations, estimates and projections as of the date of this news release. Such "forward looking statements", reflects management's current beliefs and are based on information currently available to management of Nevoro. In some cases, forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue", "intention" or the negative of these terms or other similar expressions concerning matters that are not historical facts. Forward-looking information in this news release includes but is not limited to economic performance of Nevoro, statements regarding potential mineralization and resource, exploration and future plans and objectives of Nevoro, including exploration and development. Forward-looking information involves significant risks and uncertainties. A number of factors could cause actual events or results to differ materially from the events and results discussed in the forward-looking information including risks related to investments, conditions of capital markets, economic conditions, dependence on key personnel, interest rates, regulatory change and availability of future financing. These factors should not be considered exhaustive. In addition, in evaluating this information, investors should specifically consider various factors, including risk factors, which may cause actual events or results to differ materially from any forward-looking statement. In formulating forward-looking information herein, management has assumed that business and economic conditions affecting Nevoro will continue substantially in the ordinary course, including without limitation with respect to general levels of economic activity, regulations, taxes, interest rates and that there will be no material changes. Although the forward-looking information is based on what management of Nevoro considers to be reasonable assumptions based on information currently available to it, there can be no assurance that actual events or results will be consistent with this forward-looking information, and management's assumptions may prove to be incorrect. This forward-looking information is made as of the date of this press release, and Nevoro does not assume any obligation, except as required by law, to update or revise them to reflect new events or circumstances. Undue reliance should not be placed on forward-looking information.

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