TORONTO,
Aug. 11, 2011 /PRNewswire/ - Bryn
Resources Inc. (PINK: BRYN) (PINKSHEETS: BRYN.PK) is pleased to
announce that it has finalized a Non-Dilutive Credit Facility
Agreement with a Switzerland Financing Company which will provide
Bryn Resources Inc. access to a minimum of $20 Million and a maximum of $100 Million in funding per exploration property
that is 43-101 or near 43-101 compliant.
"We are extremely pleased to have this facility in
place. As we begin preparations to commence work on our two
properties, Wine Harbour and Renfrew, with a view to making them 43-101
compliant we now have secured a facility to finance the process
that will allow us to proceed to the next step being the
extraction and production phase. We have also opened the doors to
seek out other properties that may be funded under the terms of our
Credit Facility Agreement up to $100M
per property that is 43-101 or near 43-101 compliant. This
additional revenue stream can add significant revenue to the
company", commented by Paul Diana,
CEO.
Bryn Resources Inc. is in final discussion to begin
the first phase of consulting and ground assessment which will
include an evaluation of the resource potential of these mineral
claims towards a 43-101.
About Bryn Resources Inc.
Bryn Resources is a precious metals exploration
company currently concentrating its efforts in Eastern Canada region holding 100% interest in
Renfrew Nova Scotia that comprises of 62 Claims covering 2,480
acres, and 100% interest in Wine Harbour, Nova Scotia with rights to 53 mineral claims
for a total of 2,100 acres. These claims have historically
demonstrated their mineralization and in the period between 1862
and 1939 yielded 42,726 ounces of gold from 83,000 tons of ore, for
an average content of 0.52 ounces per ton. Bryn Resources Inc.
continues to seek partnerships in proven mineralization which are
close to the production phase.
This press release contains forward-looking
statements that reflect the Company's current expectation regarding
future events. Actual events could differ materially and
substantially from those projected herein and depend on a number of
factors. Certain statements in this release, and other written or
oral statements made by Bryn Resources Inc. are "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934. You
should not place undue reliance on forward-looking statements since
they involve known and unknown risks, uncertainties and other
factors, which are, in some cases, beyond the Company's control and
which could, and likely will, materially affect actual results,
levels of activity, performance or achievements. The Company
assumes no obligation to publicly update or revise these
forward-looking statements for any reason, or to update the reasons
actual results could differ materially from those anticipated in
these forward-looking statements, even if new information becomes
available in the future. Important factors that could cause actual
results to differ materially from the company's expectations
include, but are not limited to, those factors that are disclosed
under the heading "Risk Factors" and elsewhere in documents filed
by the company from time to time with the United States Securities
and Exchange Commission and other regulatory authorities.
SOURCE Bryn Resources