Vior Inc.

Vior Inc.

February 28, 2008 10:04 ET

Vior Acquires Gold and Base Metal Property in the Chibougamau-Chapais Area

QUEBEC CITY, QUEBEC--(Marketwire - Feb. 28, 2008) - Vior Inc. ("Vior") (TSX VENTURE:VIO)(FRANKFURT:VL5) announces the signature of an agreement with Mr. Robert Gagnon ("the vendor") by which it can acquired a 100% interest in the Barlow gold and base metal property located 20 kilometres northwest of Chapais in the Chibougamau area, Province of Quebec.

The Property

The Barlow property comprises 58 claims covering a surface area of approximately 2171 hectares (21.72 square kilometres) in the northeast section of the Abitibi Greenstone Belt. The property is easily accessed by forest roads.

The Chapais area hosted several major former producing mines including the Springer Mine - 12.5 million tonnes at 2.56% Cu and 1.23 g/t Au, the Perry Mine - 9 million tonnes at 3.06% Cu, 0.48 g/t Au and 21.94 g/t Ag and the Robitaille Mine - 196,000 tonnes at 2.04% Cu and 0.53 g/t Au.

The Barlow property covers the Blondeau formation and the Cummings complex within the Gilman formation. Several fault systems running in east-west and northeast-southwest directions can also be observed on the property.

Four VMS showings containing pyrite, pyrrhotite, chalcopyrite and sphalerite have been recognized on the property which has remained relatively unexplored until now. Drilling in 1953 returned values of 1.4% Cu over 6 feet (1.85 metres) without gold assays having been performed (GM 4430-B). Values also obtained by Falconbridge, (6.8% Zn over 0.6 metre, 3.3% Cu over 0.3 metre, 2 g/t Au over 0.5 metre and 4 g/t Ag over 1.6 metres (GM 27518,29157,30626) tend to confirm the VMS potential of this area.

The Barlow property is also adjacent and within the possible extension of the Cuvier deposit, (non-compliant Ni 43-101 resources of 370,000 tonnes at 4 g/t Au). Closely associated with a shear zone, this small deposit is located within the basalt/gabbros of the Gilman formation. This northwest-southeast structure appears to continue on the Barlow property.

The property is also adjacent to the East and West Barlow properties recently purchased by MDN Inc. from Diagnos Inc. These properties were identified by Diagnos using its CARDS (computer-aided resources detection software) technology, which helps define targets based on an analysis of all mining data bases available for a given area.

The Agreement

Under the terms of the agreement, Vior has the option to acquire a 100% interest in the Barlow property upon fulfilling the following conditions:

- A cash payment of $10,000 upon signing of the agreement and further optional payments of $10,000 on the 12th and 24th month following the signature of the agreement.

- The issuance of 50,000 common shares of Vior in favour of the Vendor at the signature of the agreement; the optional issuance of 50,000 additional shares on the 12th month of the agreement and 100,000 additional shares on the 24th and 36th month following the signature of the agreement for a total of 300,000 common shares.

- Exploration expenditures of $40,000 during the first 12 months of the agreement; additional expenditures of $40,000 during the following 24 months and $10,000 during the following 36 months for a total amount of $90,000.

- A 1% NSR royalty if the property is brought into commercial production. One half of this royalty can be repurchased at any time for $1 million.

This agreement is subject to the approval of the regulatory authorities. The common shares issued under the terms of this agreement are subject to a four-month hold period after the signature of the agreement.

This press release was prepared by Denis Chenard, Eng. a Qualified Person as defined by National Instrument 43-101.

Sale of Uranium South Properties

Vior also announces that in partnership with Virginia Mines Inc. ("Virginia"), it has entered into an agreement with Northfield Metals Inc. ("Northfield"), pursuant to which Northfield acquired 100 per cent interest in 297 claims jointly owned by Vior and Virginia in exchange for 500,000 common shares of Northfield (250,000 to Vior and 250,000 to Virginia). The agreement is also subject to a 2 per cent net smelter return (NSR) royalty of which 1 per cent is in favour of Vior. Northfield may buy back 0.5 per cent of this 1 per cent NSR royalty for $500,000.


Vior is a growing mining company focused on acquiring and developing high quality, low risk gold and base metal resource prospects in accessible mining areas of Quebec. The Company wholly owns the Douay gold project on which an NI 43-101 compliant independent resource evaluation was recently completed (See press release dated November 7, 2007). Vior is aggressively pursuing opportunities to develop working interests in mineral properties that offer significant upside exploration potential. Vale Inco Limited is the largest shareholder of Vior with an 11% interest.

Sedar: Societe d'exploration miniere Vior inc.

The TSX Venture Exchange (TSX Venture) does not accept responsibility for the adequacy or accuracy of this Press Release.

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