REC Minerals Corp.
TSX VENTURE : REC

REC Minerals Corp.

December 07, 2010 08:47 ET

REC Minerals Announces Staking of 10,240 Acre Area in Chapleau, Ontario Gold District

TORONTO, ONTARIO--(Marketwire - Dec. 7, 2010) - REC Minerals Corp. ("REC" or the "Company") (TSX VENTURE:REC) is pleased to announce that it has successfully staked 256 claim units for a total of 10,240 acres in the vicinity of Probe Mines Limited's Borden Lake property. In November 2010, Probe Mines Limited announced a gold discovery at its Borden Lake property. The Company's newly-staked property (the "Borden Lake South Property") is 100% owned by REC and covers the central portion and eastern side of Borden Lake which is located 10 km east of the town of Chapleau in Northeastern Ontario. The Probe Mines Limited Borden Lake property is situated approximately two km north of REC's Borden Lake South Property.

The decision to stake these claim units near Chapleau, Ontario was made by REC based on its assessment of the Ontario Government's regional airborne magnetometer survey results over the area of interest in the context of the announcement by Probe Mines Limited of the gold discovery at its Borden Lake property, and a comparison of such airborne magnetometer survey results with similar public airborne magnetometer survey results available for the Timmins Gold Camp in Ontario.

REC is currently planning exploration of the Borden Lake South Property, including the contract of a high-resolution VTEM airborne survey in order to identify potential electromagnetic anomalies for a follow-up ground exploration program.

"We are very pleased with our acquisition of the Borden Lake South Property, which we hope will prove to be prospective for gold discovery", said Kabir Ahmed, Chairman, President and CEO of REC Minerals. "We look forward to completing the VTEM airborne survey by the end of this year so that we can have the Borden Lake South Property drill-ready for 2011."

Trevor Boyd, P.Geo., a qualified person as defined by National Instrument 43-101 ("NI 43-101"), Vice President of Exploration and a member of the board of directors of REC, supervised the preparation of the technical information contained in this press release in compliance with NI 43-101. 

ABOUT REC

REC is a junior mineral exploration company with an experienced management team engaged in the acquisition, exploration and development of properties for the mining of precious and base metals and uranium. The Corporation holds an option to acquire a 100% interest in the MC Dalhousie Property located in northwestern British Columbia, Canada; an option to acquire a 100% interest in the North Nonacho Property in the vicinity of Nonacho Lake, Northwest Territories, Canada; and an option to acquire a 100% interest in the Esten Property located 10 km south of Elliott Lake, Ontario, Canada. The common shares of REC trade on the TSX Venture Exchange under the stock symbol "REC". The Company has 16,725,000 common shares issued and outstanding.

FORWARD-LOOKING STATEMENTS

Certain statements in this press release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of REC or the industry in which it operates to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, the words "estimate", "believe", "anticipate", "intend", "expect", "plan", "may", "should", "will", the negative thereof or other variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current expectations of the management of REC with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from those expressed or implied by those forward-looking statements. These risks and uncertainties are detailed from time to time, including, without limitation, under the heading "Risk Factors", in REC's prospectus and in other continuous disclosure documents that will be filed by REC from time to time with the Ontario Securities Commissions which are available at www.sedar.com and to which readers of this press release are referred for additional information concerning REC, its prospects and the risks and uncertainties relating to REC and its prospects. New risk factors may arise from time to time and it is not possible for management to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance and achievements of REC to be materially different from those contained in forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, REC cannot assure investors that actual results will be consistent with these forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.

The forward-looking information contained in this press release is current only as of the date hereof. REC does not undertake or assume any obligation, except as required by law, to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

No securities commission or regulatory authority has approved or disapproved the contents of this press release. 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

  • REC Minerals Corp.
    Kabir Ahmed
    Chairman, President and Chief Executive Officer and Director
    (416) 365-6580
    (416) 946-1951 (FAX)