RFR Renforth Resources Inc

Renforth Resources Inc. ("Renforth" or the "Company") (CNSX:RFR) is pleased to
announce it has acquired an option to acquire the Mink Lake Gold Project,
located approximately 110 kms east-northeast from the Town of Red Lake in the
Birch- Uchi Greenstone Belt. The Project is comprised of 9 unpatented mining
claims totalling 123 units over 1658 hectares (the "Property").


Nicole Brewster, President and CEO of Renforth states: "We are pleased to have
been able to acquire this property, which encompasses several known gold
showings that have been the subject of historic exploration. The Mink Lake Gold
Project represents accessible exploration for Renforth, and, along with
Renforth's New Alger Gold Project, an opportunity to build shareholder value
through basic exploration on prospective ground with historically identified
gold occurrences."


Renforth acquired the option on the Mink Lake Gold Project from Accolade
Resources Corporation ("Accolade") through the assumption of Accolade's rights
and obligations under a Purchase Option Agreement (the "Option Agreement")
between Accolade and an arm's length exploration and development company (the
"Optionor"). Renforth now has the right to earn 100% ownership in the Property,
subject to a 2% Net Smelter Return Royalty in favour of the Optionor (half of
which can be purchased back for a payment of one million dollars to the
Optionor), by making the following payments to the Optionor:




  1) $15,000 by September 30, 2012;                                         
  2) $20,000 by September 30, 2013; and                                     
  3) $25,000 by September 30, 2014.                                         
                                                                            
This is a total of $60,000 in payments, which can be accelerated at the     
election of Renforth.                                                       
                                                                            
Renforth also announces that the Company intends, subject to compliance with
the policies of the CNSX and applicable securities laws, the following share
issuances:                                                                  
                                                                            
  1) 1,070,000 common shares of the Company at a price of $0.05 to two      
     independent directors and a former director for outstanding director   
     fees of $53,500; and                                                   
  2) 1,612,060 common shares of the Company at a price of $0.05 to Billiken 
     Management Services Inc. ("Billiken"), a geological consulting company 
     for the settlement of outstanding fees in the amount of $80,603 (the   
     "Fees"). The Company's CEO, Nicole Brewster, is a shareholder of       
     Billiken. The services relating to the Fees were rendered by Billiken  
     prior to Ms. Brewster becoming CEO of the Company.                     



ABOUT RENFORTH

Renforth Resources Inc. is a Toronto-based exploration company pursuing the
development of the Company's optioned New Alger project, located in the prolific
Cadillac break between Rouyn and Val d'Or Quebec. The Company is also evaluating
additional exploration opportunities on an ongoing basis.


Forward-Looking Statements

Results presented in this press release are exploratory in nature. Historical
data, if mentioned, should not be relied upon, as they are not admissible under
NI 43-101 rules and the Company has not conducted sufficient testing to verify
this type of information. In addition, this press release includes certain
forward - looking statements within the meaning of Canadian securities laws that
are based on expectations, estimates and projections as of the date of this
press release. There can be no assurance that such statements will prove
accurate, and actual results and developments are likely to differ, in some case
materially, from those expressed or implied by the forward-looking statements
contained in this press release. Readers of this press release are cautioned not
to place undue reliance on any such forward- looking statements.


Forward-looking statements contained in this press release are based on a number
of assumptions that may prove to be incorrect, including, but not limited to:
timely implementation of anticipated drilling and exploration programs; the
successful completion of new development projects, planned expansions or other
projects within the timelines anticipated and at anticipated production levels;
the accuracy of reserve and resource estimates, grades, mine life and cash cost
estimates; whether mineral resources can be developed; title to mineral
properties; financing requirements, general market conditions, and the
uncertainty of access to additional capital; changes in the world-wide price of
mineral commodities; general economic conditions; and changes in laws, rules and
regulations applicable to the Company. In addition to being subject to a number
of assumptions, forward-looking statements in this press release involve known
and unknown risks, uncertainties and other factors that may cause actual results
and developments to be materially different from those expressed or implied by
such forward-looking statements. The Company has no intention or obligation to
update the forward-looking statements contained in this press release.


No securities regulatory authority has approved or disapproved of the contents
of this news release.

Renforth Resources (CSE:RFR)
Historical Stock Chart
From Nov 2024 to Dec 2024

Renforth Resources (CSE:RFR)
Historical Stock Chart
From Dec 2023 to Dec 2024