QMX Gold Corporation

TSX : QMX


QMX Gold Corporation

January 15, 2014 08:30 ET

QMX Gold Agrees to Extend Closing on the Sale of Snow Lake Property

TORONTO, ONTARIO--(Marketwired - Jan. 15, 2014) - QMX GOLD CORPORATION (TSX:QMX) ("QMX Gold" or the "Company") and Northern Sun Mining Corp., formerly Liberty Mines Inc. ("Northern Sun"), have agreed to an extension of the closing of the proposed acquisition by Northern Sun of the Snow Lake property, detailed in the press release dated October 2, 2013. The closing is now expected to occur on or before March 31, 2014. The execution of the agreement remains subject to a number of conditions, including without limitation, receipt all necessary government and regulatory approvals in Canada and China, completion of due diligence, and Northern Sun securing the financing necessary to complete the acquisition. Additionally, QMX Gold has agreed to waive the extension fee of $100,000 set out in the original sale agreement.

Cautionary Note Regarding Forward-Looking Information and Mineral Resources:

This press release contains or may be deemed to contain "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements (express or implied) relating to the completion of the sale of the Snow Lake property to Northern Sun and/or the future financial or operating performance of QMX Gold, its properties and/or its projects. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, its properties and/or its projects to be materially different from those expressed or implied by such forward-looking information, including but not limited to those risks described in the annual information form of the Company, which is available under the profile of the Company on SEDAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. It should also be noted that mineral resources that are not mineral reserves do not have demonstrated economic viability.

Contact Information

  • QMX Gold Corporation
    Brett New
    President and CEO
    (416) 861-5904

    QMX Gold Corporation
    Louis Baribeau
    Public Relations
    (514) 667-2304

    QMX Gold Corporation
    Rob Hopkins
    Investor Relations
    (416) 861-5899

    QMX Gold Corporation
    +1 877-717-3027
    info@qmxgold.ca
    www.qmxgold.ca