Newstrike Capital Inc.

Newstrike Capital Inc.

April 06, 2009 18:23 ET

Newstrike Announces Withdrawal of Reactivation Application

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 6, 2009) - Newstrike Capital Inc. (NEX:NES.H) ("Newstrike" or the "Company") announces that it has withdrawn its reactivation application to graduate from the NEX board of the TSX Venture Exchange (the "NEX") to a full Tier 2 TSX Venture Exchange listing (the "Exchange").

Due to the world economic downturn, the Company has chosen to terminate its option over the Monte Alban property, which was to constitute the Company's qualifying property for the purposes of its reactivation application to graduate from the NEX to the Exchange. On a return to more favourable market conditions, the Company intends reassess to this reactivation application.

About Newstrike

Newstrike Capital Inc. holds all of the issued and outstanding shares of Aurea Mining Inc. ("Aurea"), a Canadian mineral resource company with a 100% interest in over 155,700 hectares of mineral claims in the State of Guerrero and the State of Oaxaca, Mexico. Aurea's Aurea Norte project is contiguous to and on strike to a known inventory of 12 million gold ounces in Guerrero's emerging gold belt. In 2007, Aurea increased its exploration portfolio to include approximately 74,000 hectares in the historical Taviche polymetallic mining district in Oaxaca.

Forward-Looking Statements

Statements made and information contained herein regarding the company's intention to raise proceeds from the proposed financing and its anticipated use of such proceeds is "forward-looking information" within the meaning of applicable securities legislation. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that may not occur in the future. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties associated with the estimation of mineral resources and reserves and the geology, grade and continuity of mineral deposits; the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses; the possibility that future exploration will not be consistent with the company's expectations; the potential for and effects of labour disputes or other unanticipated difficulties with or shortages of labour; uncertain political and economic environments; changes in laws or policies, foreign taxation, delays or the inability to obtain necessary governmental permits; general economic factors; and other risks and uncertainties. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements.

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

  • Newstrike Capital Inc.
    Mr. Richard Whittall
    President & CEO
    (604) 605-4654