Silver Pursuit Resources Ltd.
TSX VENTURE : SPF

Silver Pursuit Resources Ltd.

July 13, 2012 18:23 ET

Silver Pursuit Amends La Tuna Agreement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 13, 2012) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Silver Pursuit Resources Ltd. (TSX VENTURE:SPF) (the "Company") announces that further to its news releases of August 10, 2011, it, along with its wholly owned subsidiary, First Pursuit Ventures de Mexico, S.A. de C.V. ("FPV Mexico"), have further amended its agreement (the "Exploration Agreement") originally signed on May 22, 2009 and amended August 8, 2011 with the vendor for the La Tuna Property located in Sonora, Mexico (the "Amendment Agreement").

Subject to the TSX Venture Exchange approval, the parties agree that the obligation for FPV Mexico to pay US$150,000 plus any taxes to the vendor on or before the third anniversary of the execution of the Exploration Agreement be amended whereby the Company will issue BLLB an aggregate of 1,000,000 shares in its capital stock as follows: i) 833,333 shares in satisfaction of US$75,000 of the scheduled US$150,000 payment of FPV Mexico due to the vendor of the property on May 22, 2012; and ii) 166,667 shares in consideration of postponing the remaining US$75,000 outstanding due date from May 22, 2012 to November 22, 2012.

All other terms and conditions of the Exploration Agreement remain the same.

ON BEHALF OF SILVER PURSUIT RESOURCES LTD.

Adrian Robertson, President, CEO and Director

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

  • Silver Pursuit Resources Ltd.
    Investor Relations
    604 682-2928 or 1-888-400-2928
    604 685-6905 (FAX)
    www.silverpursuit.ca