VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 4, 2013) - VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS" or the "Company") is pleased to announce it has awarded a drilling contract to JS Drilling of Sudbury, Ontario for its 2013 Sudbury winter drill program. The program will begin March 4, 2013. All permits for the drill program have been received.
Drilling will target gold and base metal mineralization on VMS' Terra Incognita exploration property situated in Parkin Township approximately 30 km north of Sudbury and 20 km north of Capreol.
The Company expects to drill three holes for a total of 450 metres to test coincident time domain electromagnetic and magnetic anomalies and Mobile Metal Ion soil geochemical responses.
Six TDEM anomalies were outlined with three ranked as high priority targets. Two of the high priority targets have coincident Mobile Metal Ion (MMI) geochemical anomalies and VLF-EM geophysical anomalies. Property geology and historic geophysical anomalies are enigmatic because of thick overburden cover. The TDEM survey covered approximately 20 line kilometers and was completed by Crone Geophysics Ltd. of Mississauga, Ontario on a grid cut by a crew from the Wahnapitae First Nations.
Assay results from drill core will be reported once received.
The Company would also like to announce that it has granted incentive stock options to certain consultants of the Company to purchase up 150,000 common shares in the capital of the Company pursuant to the Company's stock option plan. The options are exercisable, on or before March 4, 2018, at an exercise price of $0.22 per share.
About VMS Ventures Inc:
VMS Ventures Inc. is focused primarily on acquiring, exploring and developing copper-zinc-gold-silver massive sulphide deposits in the Flin Flon-Snow Lake VMS Belt of Manitoba. The Company's VMS project property portfolio consists of the Reed Lake Mine, which is subject to a 70-30 JV with HudBay Minerals and is scheduled for production in Q3- 2013, Copper Project, McClarty Lake Project, Sails Lake Project, Puella Bay Project and Morton Lake Project. Outside of the Snow Lake camp, the Company holds massive sulphide prospective properties near the past producing Fox Lake and Ruttan copper-zinc mines, near the communities of Lynn Lake and Leaf Rapids in northern Manitoba. These properties are located in the mining friendly province of Manitoba, Canada. The Company also has optioned three properties in the Sudbury mining camp. They are Terra Incognita, Golden Pine and Black Creek.
VMS Ventures owns approximately 21M shares of North American Nickel Inc. (TSX VENTURE:NAN). For more information on North American Nickel Inc., please visit www.northamericannickel.com.
Forward Looking Statement
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. VMS Ventures Inc. undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
ON BEHALF OF THE BOARD OF DIRECTORS
John Roozendaal, B.Sc., President
VMS Ventures Inc.
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.