Doubleview Acquires Silver, Gold property in Kootenay District of British Columbia, Canada
Doubleview Capital Corp. (“Doubleview”) is pleased to announce it has entered into a purchase agreement with Decoors Mining Corp. (“Decoors”) to acquire a 100% interest in the Metropolitan Property in the Kootenay District of south-eastern British Columbia. The mineral property comprises 776.27 hectares and includes the former Metropolitan Silver-Gold-Lead-Zinc mine, and two Silver-Gold-Lead-Zinc occurrences. Subject to TSX Venture Exchange (the “Exchange”) approval, Doubleview will issue 333,330 shares to Decoors on Exchange approval and make two cash payments to Decoors of $25,000: the first on Exchange approval and the second, on the first anniversary of the agreement. Decoors will also retain a 2.5% net smelter return on the Metropolitan Property.
The Metropolitan Property is surrounded by the extensively explored Kootenay Arc Project of Mineral Mountain Resources Ltd. (TSX-V:MMV) (“Mineral Mountain”). Mineral Mountain in a news release dated June 30th 2011 announced that their Black Warrior Anomaly, located close to the Metropolitan site, is its highest priority drill target.
The Metropolitan Property is located 6 km southeast of Revelstoke and 15 km north of Trout Lake, B.C., near the headwaters of Ferguson and Silvertip creeks. The underlying sedimentary rock formations are Cambrian to Devonian aged clastic and carbonate members of the Lardeau Group. Historic and more recent mining and exploration work in the area has confirmed the presence of Silver, Gold, Lead and Zinc mineralization similar to that reported by Mineral Mountain.
Doubleview is planning to immediately start an ambitious program of exploration that will include prospecting, sampling, mapping and, possibly, drilling.
Doubleview is a junior mineral exploration company based in Vancouver, British Columbia that recently graduated from a Capital Pool Company (CPC) status. For its qualifying transaction, Doubleview received option to acquire a 100% interest in the Mount Milligan North Property. The Mount Milligan North Property is comprised of 26 contiguous mineral tenures totaling 8,390 hectares and is located approximately 160 kilometres northwest of Prince George, British Columbia. Access is by the Germansen North Forest Service Road 112 kilometres from Fort St. James and then easterly along well-used logging roads and a network of former haul roads.
Doubleview’s objective is to aggressively acquire and develop quality and highly prospective mineral projects in mining friendly parts of Canada and specifically in the province of British Columbia. Doubleview is reviewing and evaluating many projects in order to increase its exposure to exploration opportunities.
Ongoing Exploration Programs:
Doubleview is also pleased to announce that it has commenced the first phase of its exploration program of the Mount Milligan North Property. Several hundred MMI soil geochemical samples from the first phase of exploration have been sent to SGS Laboratories in Toronto for analysis. When obtained, the analytical results will be released.
Erik A. Ostensoe, P. Geo, an independent consulting geologist and Doubleview’s Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, with respect to the Metropolitan and Mount Milligan North properties, has reviewed and approved the contents of this news release.
On Behalf of Board of Directors
Farshad Shirvani, M.Sc. Geology
President and Chief Executive Officer.
For further information please contact:
Doubleview Capital Corp.
Suite 310, 675 West Hastings Street
Vancouver, BC V6B 1N2
T: (604) 678-9587
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Doubleview cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Doubleview’s control. Such factors include, among other things: risks and uncertainties relating to Doubleview’s ability to complete the proposed exploration program on the Mount Milligan North Property, Doubleview’s ability to complete the acquisition of the Metropolitan Property, Doubleview’s limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially form the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Doubleview undertakes no obligation to publicly update or revise forward-looking information.
NEITHER 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.