Highlights
•The sale of Royal Uranium to Royal USA, a wholly owned subsidiary of Aldershot, has been cleared by the TSX
•The purchase includes the Burro Project – a high grade uranium target in Colorado and the Bordeaux Creek ISR greenfield project in Nebraska
•Drilling permits for Bordeaux Creek Partner LLC’s drilling program have been submitted to the State of Nebraska
Through a loan agreement with Royal Resources Ltd, Aldershot Resources Ltd. (TSX.V-ALZ) through Royal USA Inc., a wholly owned subsidiary of Aldershot purchased 100% of the stock of Royal Uranium Inc., a wholly owned subsidiary of Royal Resources Ltd., for US$160,000 pending approval of the TSX. On June 13, 2012, the TSX Venture Exchanged approved the transaction.
The financing for this purchase will be through a loan from Royal Resources Ltd. (Lender) in the amount of AU$170,000 and Aldershot can request advances to the loan. The terms of the loan are: 1) the loan shall be repaid in full when called by the Lender; 2) the interest is to be paid based on a 90 day bank bill swap rate + 4 % per year, and calculated quarterly and accumulated, and the interest shall be paid when called by the Lender. Completion of the acquisition of Royal Uranium Inc. remains subject to acceptance from the TSX Venture Exchange. Royal Resources Ltd. holds approximately 42% of the issued and outstanding shares of the Company. Messrs. Philip Crabb and Marcus Flis are directors of the Aldershot Resources Ltd. and Royal Resources Ltd..
The purchase included two projects, the Burro Project and the Bordeaux Creek Project. The Burro Project holds 65, 100% owned, lode mining claims. Nine of the seventeen exploration holes drilled in 2006 showed mineralization ranging from 1.0 ft @ 0.04% U3O8 to 5.5 ft @ 0.52% U3O8. The Bordeaux Creek Project consists of 9,700 acre covering an ISR greenfield prospect near Cameco’s Crow Butte Project outside of Chadron, NE. The Bordeaux Creek Partner LLC joint venture was formed where Royal USA Inc is currently earning-in to the project. Further details concerning these properties were listed in the April 13, 2012 Press Release. The inclusion of these two properties will significantly improve Aldershot’s already extensive pipeline.2
Bordeaux Creek Partners LLC’s (BCP) application for a drilling permit was submitted to the Nebraska Department of Environmental Quality (NDEQ) and further reviewed by the Nebraska Game and Parks Commission (NGPC). The NGPC after reviewing the project stated that they had no objection to the proposed plan with BCP’s agreement to follow the swift fox protocol. A draft permit has been prepared by the NGPC and approved by Bordeaux Creek Partners. The final issuance of the permit is pending submittal of the surety bond.
About Royal USA Inc.
Aldershot’s wholly owned U.S. subsidiary, Royal USA Inc. is a mineral exploration and development company focused on mineral resources in the western United States of America.
Michael G. Leidich is a Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the content of this press release.
About Aldershot Resources Ltd.
Aldershot Resources, based in Vancouver, Canada, is a mineral exploration company with a portfolio of uranium properties in the United States, Australia and Zambia. Royal USA has a very active exploration program utilizing advance geophysical methods to be followed by extensive drilling campaigns. Shares of the Company are listed for trading on the TSX Venture Exchange. There are 156,492,975 shares outstanding.
FOR AND ON BEHALF OF THE BOARD
ALDERSHOT RESOURCES LTD
signed:“Michael G. Leidich, P.E.”
Michael G. Leidich
Chief Operating Officer
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended and “Forward Looking Information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements and forward-looking information that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time-to-time with the British Columbia, Alberta and Ontario Securities Commissions.
FOR FURTHER INFORMATION PLEASE CONTACT:
Aldershot Resources Ltd
Michael G. Leidich3
Chief Operating Officer
(303) 955-5820
Email: [email protected] or [email protected]
Website: www.aldershotresources.com