Finore Mining Inc. (the "Company") (CNSX: FIN, OTCQX: FNREF), is pleased to announce that it has made the second cash payment of $1,000,000 and issued 1,566,800 common shares of the Company (the "Shares") to Nortec Minerals Corp. ("Nortec") for the second option payment on the Lantinen Koillismaa Project (the "LK Project"), as per the Definitive Agreement announced in August 2011 (see the Company's news release of August 30, 2011). The Shares are subject to a statutory hold period expiring on August 20, 2012.
Lantinen Koillismaa Project
The LK Project is located in north central Finland, 660 km north of the capital Helsinki, 65 km south of the Arctic Circle. The project is well serviced by power, roads and water allowing all season access. The LK Project consists of the Kaukua, Lipeavaara, Murtolampi and Haukiaho Targets. Nortec carried out over 10,000 metres of diamond core drilling on the Kaukua Target between 2007 and 2009. The Haukiaho Target has over 7,000 metres of historical diamond drilling conducted over since the 1960's to 2004. Nortec did not carry out any drilling on the Haukiaho Target. The LK project has a combined surface area of over 3,750 hectares and covers a PGE+Au-Cu-Ni mineralized horizon known as the "Marginal Series" that is hosted within a sequence of mafic and ultramafic layered intrusions.
About Finore Mining Inc.
Finore is currently earning an undivided 80% interest in and to certain exploration claims known as the LK Project as part of the Option Agreement with Nortec Minerals Corp (see Finore news release dated September 21, 2011). Finore's goal is to define a large-tonnage PGE+Au-Cu-Ni deposit in Finland, thereby maximizing value on behalf of its shareholders.
On Behalf of the Board of Directors of Finore Mining Inc.,
"Peter Hughes"
Peter Hughes, Chairman
Finore Mining Inc.
www.finoremining.com
FOR MORE INFORMATION, PLEASE CONTACT:
Peter Hughes [email protected] 604-688-9588
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