Dia Bras announces termination of letter of intent to acquire Plexmar
QUEBEC CITY, QUEBEC–(Marketwire – June 15, 2012) – Plexmar Resources Inc. (TSX VENTURE:PLE) announces that the letter of intent dated April 17th, 2012 between Dia Bras and Plexmar previously announced on April 23, 2012 has been terminated by Dia Bras in accordance with its terms.
Guy Bédard, President and CEO of Plexmar commented: " We are disappointed with the outcome at such a strategic time. Plexmar management will explore other alternatives which could lead into the future development of its concessions in Peru."
Plexmar is a Canadian Exploration Company focused on acquiring, exploring and developing gold mineral properties. Its main asset is Bolsa del Diablo, a gold project in northern Peru, which covers an area of nearly 9,700 ha and is located near the border with Ecuador. In total, the Company owns 100% of 38 concessions and has the right to acquire 100% of 1 more concession through an option agreement.
Additionally, Plexmar owns the Malin Plant located 125 km northeast of Trujillo in northern Peru. The current capacity of the Malin Plant is 125 tpd with plans to expand the total treatment capacity (polymetallic-flotation and gold) to 200 tpd in 2012.
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
|PROFILE||Plexmar is a junior company focused on precious metals in Peru|
|PROPERTIES||Gold :Peru: Oro Del Norte, Marilia, Bolsa Del Diablo,|
|CORPORATE INFO||228 M shares outstanding|
|Symbol: PLE (TSX-V)|
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release".
Plexmar Resources Inc.
Guy BEdard, president