Vior Inc.

Vior Inc.

August 03, 2015 14:00 ET

Vior Announces the Closing of a Financing and an Exploration Update on the Foothills Rutile Project, in St-Urbain, Quebec

QUÉBEC CITY, CANADA--(Marketwired - Aug. 3, 2015) - SOCIÉTÉ D'EXPLORATION MINIÈRE VIOR INC. (TSX VENTURE:VIO)(FRANKFURT:VL5) - is pleased to announce the closing of a non-brokered private placement (the "Offering") of 555,555 units (the "Units") at a price of $0.09 per Unit for total gross proceeds of $50,000. Each Unit consists of one common share and one-quarter of a common share purchase warrant. Each whole warrant entitles the holder to acquire one (1) additional common share of the Company at a price of $0.11 until July 31, 2017.

Under the Action-Terrain 2015 Program, la Société d'investissement dans la diversification de l'exploration ("SIDEX") participated in the Offering for the whole $50,000 (555,555 Units). The mission of SIDEX is to invest in companies engaged in mineral exploration in Québec in order to diversify Québec's mineral base and open new territories.

The securities issued under the Offering are subject to a four month hold period ending on December 1, 2015. The Offering is subject to final approval from the TSX Venture Exchange. The proceeds from the Offering will be used by Vior to advance its Foothills exploration projects, in Québec.

Foothills Project

The Company is also pleased to announce the discovery of two new massive ilmenite occurrences at the Boudreau and Blueberry Lake showings, as well as the discovery of more than fifty new boulders and clasts of ilmenite (Fe2TiO3) enriched in rutile (TiO2) on its Foothills titanium property located near St-Urbain, about 100 kilometres east of Quebec City. These discoveries are the result of a ground follow-up program, announced in a press release dated June 2, 2015, focusing on magnetic targets defined during the helicopter-borne high-resolution magnetic survey completed in the winter of 2015.

The two titanium occurrences were discovered by field prospecting in areas bordering magnetic anomalies. The Boudreau showing, located in the south-central part of the property, consists of 100% coarse-grained massive ilmenite exposed in two outcropping areas spaced 25 metres apart, over a width of 7 to 8 metres on one of the outcrops. Several ilmenite boulders enriched in rutile were discovered near the Boudreau showing, which remains open in all directions. The Blueberry Lake showing is located in the east-central part of the property and encompasses three outcropping areas where coarse-grained massive ilmenite is exposed over a distance of more than 140 metres. This showing is located about 1 kilometre east of the Ontario Lake ilmenite prospect.

In addition, the discovery of new ilmenite boulders and clasts enriched in rutile in the south part of the property has led to a better definition of potential target areas where rutile-rich mineralization may occur. Rock samples from boulders and outcrops, as well as stream sediment samples were collected and sent for analysis. Results are expected later on this summer.

The Company is planning additional exploration work in August 2015 and possibly in the fall, consisting in ground follow-up work pending positive results. Sampling, mechanical trenching, and a ground-based gravity geophysical survey are planned.
In the industry, most of rutile and ilmenite is processed into non-toxic white titanium dioxide pigment for use in the manufacture of paints, plastics, paper, textiles, cosmetics and ceramics. Rutile is also used to produce titanium metal for use in aircraft, spacecraft, surgical implants, motor vehicles and desalination plants (source: Geoscience Australia website). The forecast for the price of the rutile on the market is estimated between US$1,075 and US$1,250/tonne for the years 2015 to 2017 (source: Crédit Suisse - Equity Research, March 28, 2014).

This press release was prepared by Mr. Marc L'Heureux, P.Geo. who is the Company's Qualified Person.


Vior's strategy is to generate, explore and develop quality projects in the best proven and accessible mining areas. Vior owns approximately 29.8% of the share capital of Aurvista Gold Corp. (TSX VENTURE:AVA), the owner of the Douay gold project, which contains a Mineral Resource of 114,652,000 tonnes at 0.75 g/t gold (2.8 million ounces of gold) and 2,689,000 tonnes at 2.76 g/t gold (238,433 ounces of gold) in the Indicated category, at a cut-off of 0.3 g/t gold (Aurvista press release of October 16, 2014).

SEDAR: Société d'exploration minière Vior inc.

Neither the TSX Venture Exchange nor its regulation services provided (as that term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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