Blackheath Acquires Option for Adoria Tungsten/Tin Project
December 30, 2013 --
Blackheath Resources Inc. (TSXV: BHR) (Blackheath” or the Company”) is pleased to announce that the Company has entered into a definitive agreement (the Agreement”) for an option to acquire a 100% interest in the Adoria Tungsten/Tin Project. The acquisition completes the Companys immediate goal of holding high-quality, past-producing tungsten mines with the potential for development of significant additional tungsten resources in northern Portugal. Blackheath now holds the rights to five licences including the Covas, Borralha, Bejanca, Vale das Gatos and Adoria historic mines.
Blackheaths President & CEO, James Robertson, commented, "We are pleased to complete our current portfolio with this historic tungsten producer under favourable terms. Work will commence in early 2014 and will initially include mapping and sampling over prospective areas of the permit.”
Blackheath holds the option for Limoes from Mineralia Minas, Geotecnia e Construcoes, Lda. (Mineralia”) - through an exploration concession (the Concession”) granted by the Government of Portugal. The Concession is granted for a period of up to five years, after which it may be converted into a preliminary exploitation licence and a final exploitation licence successively. Under the Agreement, Blackheath will undertake to fulfill the terms of the Concession, include a minimum exploration expenditure of €220,000 during the first two years. Blackheath will also pay Mineralia €100,000 upon the grant of a preliminary exploitation licence and a further €1 million upon mine production and the grant of a final exploitation licence, at which time Blackheath will hold a 100% interest in the project.
Further information about the companys activities may be found at www.blackheathresources.com and under the companys profile at www.sedar.com
On behalf of the Board,
James Robertson, P. Eng., President & CEO
For further information contact Alexander Langer at 604 684-3800 or email@example.com
This news release was prepared by Company management, who take full responsibility for its content. James Robertson, P.Eng. is a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators. He has reviewed the technical disclosure in this release.
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.
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