Huldra Silver Inc. Announces Land Acquistion and Exploration and Development Update
February 18 2011 - 6:02PM
Marketwired
Huldra Silver Inc. (TSX VENTURE: HDA) (the "Company" or "Huldra")
is pleased to announce that it has entered into a definitive
Purchase and Sale Agreement dated February 17, 2011 (the
"Agreement") to acquire four district lots consisting of 70.7
hectares of land located at Treasure Mountain for $350,000 from The
Gak Holdings Inc. (the "Transaction"). Huldra currently holds the
under surface mineral rights to these properties as part of its
7,000 acre Treasure Mountain Mine property. These surface rights
give Huldra unencumbered access to areas of the property that have
had limited exploration in recent years as well as an excellent
location for mine and camp infrastructure.
Pursuant to the terms of the Agreement, the $350,000 purchase
price is payable by a cash payment of $180,000 ($20,000 of which
was paid as an initial deposit following the execution by both
parties of a Letter of Intent dated January 20, 2011), and the
issuance of such number of common shares in the capital stock of
Huldra ("Share") as is equal to $150,000 divided by the volume
weighted average price of the Shares on the TSX Venture Exchange
(the "Exchange") in the fifteen (15) trading days preceding the
closing of the Transaction. The closing of the Transaction is
subject to the approval of the Exchange.
EXPLORATION AND DEVELOPMENT UPDATE
Huldra is currently working on its Small Mines Permit for
submission to the Chief Inspector of Mines, which it expects to
complete in March, 2011. Full details of the application will be
available once the application has been submitted. The Company will
then issue a press release with detailed exploration plans for the
remainder of the year.
On behalf of the Board of Directors
Ryan Sharp, MBA, President, CEO & Director
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking
statements, which reflect the expectations of management regarding
the Company's overall business development objectives and plans.
Forward-looking statements consist of statements that are not
purely historical, including any statements regarding beliefs,
plans, expectations or intentions regarding the future, and include
discussion of the Company's planned Small Mines Permit application
and its expectation to submit the application by March 2011. Such
statements are subject to risks and uncertainties that may cause
actual results, performance or developments to differ materially
from those contained in the statements. No assurance can be given
that any of the events anticipated by the forward-looking
statements will occur or, if they do occur, what benefits the
Company will obtain from them. These forward-looking statements
reflect management's current views and are based on certain
expectations, estimates and assumptions which may prove to be
incorrect. A number of risks and uncertainties could cause the
Company's actual results to differ materially from those expressed
or implied by the forward-looking statements, including: (1) the
occurrence of any events that prevent the Company from being able
to submit the Small Mines Permit application in March 2011, and (2)
other factors beyond the Company's control. These forward-looking
statements are made as of the date of this news release and the
Company assumes no obligation to update these forward-looking
statements, or to update the reasons why actual results differed
from those projected in the forward-looking statements, except in
accordance with applicable securities laws. Additional information
about the Company and these and other assumptions, risks and
uncertainties is available in the Company's public filings with
Canadian securities regulators, available on SEDAR at
www.sedar.com.
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 news release.
Contacts: Huldra Silver Inc. Ryan Sharp 604-647-0142
ryan@huldrasilver.com or IR@huldrasilver.com
www.huldrasilver.com