INTERNATIONAL PROSPECT VENTURES PROVIDES UPDATE ON PROCUREMENT IN WESTERN AUSTRALIA
13 JULY 2018
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES
Val-d'Or, Québec – July 13, 2018 – International Prospect Ventures Ltd. (TSX-V:IZZ) (the "Company") announces that it is continuing its NSR royalty search and engaging in discussions with interested groups and vendors. The Company is also continuing discussions with property holders in the Pilbara Craton gold district, and will provide further updates as circumstances and milestones warrant.
International Prospect Ventures' Projects in the Western Pilbara
The Company has made application for 8 tenements (pending approval) in the Marble Bar and Nullagine areas of the Pilbara Region, Western Australia (Fortescue Basin). The pending properties cover more than 900 square kilometres and are proximal to and/or cover target lithologies for gold-bearing conglomerate/sedimentary rocks at the base of the Mt. Roe Basalt (2 tenements), gold-bearing Mosquito Creek and Hardey formations (4 tenements), and other prospective rocks of the Fortescue Group (2 tenements). Seven of the 8 tenements are immediate to lands held by Novo Resources, Pacton Gold, and Millennium Minerals. The Company is party to a binding share exchange agreement to acquire 100% interest in Valroc Ventures Pty Ltd., the New South Wales, Australia company that the Company has an agreement with to jointly acquire, each as to an undivided 50% interest, certain applications for tenements located in gold-bearing Pilbara region of Western Australia. The Company anticipates that the applications for the tenements will be confirmed in the near future.
Comet Well Gold Property
The Company further announces its proposed acquisition of a 0.5% royalty on net smelter returns on the Comet Well Property located in the Pilbara Craton, Western Australia, as announced by the news release on June 28, 2018, will not be proceeding as Novo Resources Corp. has given notice to the vendor that it intends to exercise its right of first refusal on the purchase of the royalty.
About International Prospect Ventures Ltd.
The Company is a junior natural resource issuer involved in the process of exploring, evaluating and promoting its mineral property interests. The Company owns a 100% interest in the Porcupine Miracle Prospect consisting of four mineral claims located in Langmuir Township in Ontario; a 40% interest in the Beartooth Island Prospect located in the Athabasca Basin in Saskatchewan which is the subject of an agreement with Ditem Explorations Inc. and of which Ditem is the operator; and a 100% interest in the Otish and Mistassini Prospects located in the North central region of Québec. The Company is also in the process of identifying and evaluating other mineral property opportunities in Canada and internationally.
This news release contains certain statements that may be deemed "forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. 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 realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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 news release.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.