SOURCE: Oxbow Resources Corp

May 07, 2008 09:27 ET

Oxbow Resources Announces Application for Water Permit on Bristol Gold Property

Bristol Gold Property to Benefit from Abundant Energy & Improved Roads

DOVER, DE--(Marketwire - May 7, 2008) - Oxbow Resources (PINKSHEETS: OXWR), a company that is using innovative geological concepts and exploration technology to discover new gold and silver resources in well-established mineral belts, announced today that Max Pacific Power Inc. has applied for a water permit to build an 8 MW Run-of-River small scale hydro project on Tommy Creek, which runs through the Bristol Gold property. The construction of such power plant would provide improved infrastructure on the property, cheap and clean electricity and road improvements for exploration and mining of the Bristol Gold Project.

"The construction of this small scale hydro project will be beneficial to Oxbow's exploration and development plans," Leonard D. Fong, President and CEO of Oxbow Resources, commented. "While building the power plant, road improvements will be made, allowing for better access for our exploration team. Also an environmentally clean power source in such close proximity is a dream for any exploration company."

Mr. Fong stated, "We look forward to working with Max Pacific Power to build a strong and mutually beneficial relationship as Oxbow continues towards its goal of discovering and excavating a gold deposit on the Bristol Gold property"

Oxbow Resources focuses on the acquisition and development of high-quality gold properties in North America and other continents. The company's flagship property is the Bristol Gold project located in British Columbia, Canada. This project has a very promising 43-101 report which can be viewed at the company website. Bristol Gold is located less than 20 kilometers away from the Bralorne-Pioneer gold mine --historically, the largest gold mine in western Canada.

Forward-Looking Statement

All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the potential extent of mineralization and reserves, exploration results and future plans and objectives of Oxbow Resources Ltd. These risks and uncertainties include, but are not restricted to, the amount of geological data available, the uncertain reliability of drilling results and geophysical and geological data and the interpretation thereof and the need for adequate financing for future exploration and development efforts. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.


Copyright © Hugin AS 2008. All rights reserved.

Contact Information