TORONTO, ONTARIO -- (Marketwired) -- 12/11/14 -- Metals Creek Resources (TSX VENTURE: MEK) has been advised by its' option joint venture partner Xmet Inc. ("Xmet" or the "Company") (TSX VENTURE: XME) that, Xmet has entered into a contract with Asinii Drilling Inc. to start drilling on its Blackflake West Project.
The drill program will focus on the projects All Channel electromagnetic response target which was followed up on with the ground induced polarization survey as announced in November 5th, 2014 news release. Xmet expects this initial phase of the drill program to total approximately 1500 metres of diamond drilling.
Xmet Inc. has the option to earn a 50% interest (see news release May 22, 2014) in the Blackflake West (Feagan Lake) Graphite Project by paying an aggregate of $20,000 plus issue up to 3,000,000 common shares and incur exploration expenditures in the amount of $885,000 within a three year period. In order to earn the additional 10% interest, Xmet must pay $100,000 plus issue 1,500,000 common shares within 90 days of earning 50% and incur exploration expenditures of $1,000,000 in year four.
About Metals Creek Resources Corp.
Metals Creek Resources Corp. is a junior exploration company incorporated under the laws of the Province of Ontario, is a reporting issuer in Alberta, British Columbia and Ontario, and has its common shares listed for trading on the Exchange under the symbol "MEK". Metals Creek has earned a 50% interest in the Ogden Gold Property, including the former Naybob Gold mine, located 6 km south of Timmins, Ontario and has a 8 km strike length of the prolific Porcupine-Destor Fault (P-DF) that stretches between Timmins, Ontario and Val d'Or, Quebec. The Corporation also has an Option/Joint venture agreement with Xmet Inc. on the Blackflake West, (Feagan Lake) graphite property, west of Zenyatta Resources. Metals Creek has also recently made a new gold/silver discovery in the "White Gold District" on the Squid East project in the Yukon and is also engaged in the identification, acquisition, exploration and development of other mineral resource properties, and presently has mining interests in Ontario, Yukon and Newfoundland and Labrador. Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under its profile at www.sedar.com.
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.
On Behalf Of the Board of Directors
Metals Creek Resources Corp.
Alexander Stares, President and CEO
Contacts:
Metals Creek Resources Corp.
Alexander Stares
President and CEO
(709)-256-6060
(709)-256-6061 (FAX)
astares@metalscreek.com
www.MetalsCreek.com
Twitter.com/MetalsCreekRes
Facebook.com/MetalsCreek
