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
On Behalf of the Board of Directors of Finore Mining Inc.,
Peter Hughes, Chairman
Finore Mining Inc.
FOR MORE INFORMATION, PLEASE CONTACT:
The CNSX does not accept responsibility for the adequacy or accuracy
of this release.
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