Noise Media Inc.
NEX BOARD : NMA.H

December 17, 2007 13:03 ET

Noise Media Inc. Announces Appointment of New Director and Option Agreement for the Courville Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 17, 2007) - NOISE MEDIA INC. (the "Company") (NEX:NMA.H) is pleased to announce that Paul Reynolds, P.Geo., has been appointed as a director of the Company effective December 12, 2007. Mr. Reynolds has extensive experience in mineral exploration and public company management and has exploration experience with mining projects located in the Canadian North, British Columbia, the Western United States, Bolivia, Argentina and Guyana.

In addition, the Company has entered into an option and joint venture agreement with Wealth Minerals Ltd. ("Wealth") pursuant to which the Company granted Wealth the option to acquire up to an undivided 20% interest in the Courville Property, located in the township of Courville, Quebec. The option grant to Wealth is subject to the Company exercising its option under the agreement with 9092-0125 Quebec Inc. (the "Vendor") and thereby acquiring a 100% interest in the Courville Property.

Wealth may acquire an undivided 10% interest in the Courville Property (the "First Option") upon incurring $125,000 in expenditures on the Property on or before December 30, 2007 or paying to the Company an amount equal to the difference between the actual expenditures incurred by Wealth and $125,000. Wealth may acquire a further undivided 10% interest in the Property (the "Second Option"), for a total of a 20% interest, upon incurring an additional $250,000 in expenditures on the Property on or before December 30, 2008. Upon exercise of the First Option or, if Wealth elects to acquire a 20% interest, then upon exercise of the Second Option, Wealth and the Company will be deemed to have formed a joint venture in respect of the Courville Property. Wealth will acquire its interest in the Courville Property subject to a 1.5% NSRR in favour of the Vendor and a further 1.5% NSRR in favour of a third party.

Wealth will be the operator of the Courville Property during the option period. Michael Kinley, the President, Chief Financial Officer and a director of the Company, is also the Chief Financial Officer of Wealth.

About the Courville Property

The Courville Property is comprised of nine contiguous mineral claims comprising an area of approximately 561 hectares situated in the Vallee-de-l'Or county municipality, Courville Township, Quebec. During the year ended August 31, 2005, the Company entered into an option agreement with 9092-0125 Quebec Inc. (the "Vendor") to acquire 100% of the Vendor's option interest in the Courville Property. To acquire the interest, the Company is required to issue 1,000,000 common shares and incur $73,000 of expenditures. In connection therewith, the Company has filed an application for reactivation to Tier 2 status on the Exchange, which application is currently pending. The Courville Property is the subject of a technical report dated June 8, 2004 and amended May 23, 2007, prepared by Antoine Fournier, M.Sc., P. Geo. of Nievex Geoconseil Inc., a copy of which is available for review on the SEDAR website at www.sedar.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Michael W. Kinley, President and Chief Financial Officer

The NEX and the Exchange have in no way passed upon the merits of the proposed transactions and have neither approved nor disapproved the contents of this press release.

Contact Information

  • Noise Media Inc.
    Michael W. Kinley
    President and Chief Financial Officer
    (604) 434-5256
    (604) 434-5488 (FAX)