01/25/2005
EVERTON INCREASES ITS LAND POSITION IN THE ELEONORE GOLD DISCOVERY AREA, JAMES BAY, QUEBEC
Everton Resources Inc. is pleased to announce the acquisition of 100% interest in ten other blocks of claims in the Virginia’s Eleonore Property discovery area.
Everton has signed an agreement with an independent staking syndicate to acquire the entire interest in 579 claims divided into 10 blocks covering a total area of 302 km2. Under the terms of the agreement, Everton acquires 100% interest in the 579 claims by paying the Syndicate $25,000 upon signing of the agreement, $25,000 within five (5) days after receipt of the Exchange approval and $50,000 and the issuance of 300,000 of the Company’s shares upon confirmation of the titles. The Syndicate will retain a 1% net smelter return, of which Everton has the option to purchase one-half for $500,000. Among the claims on application, 265 are already granted, while the balance is pending.
Four of the blocks are adjacent to Virginia’s Eleonore gold discovery. The blocks are all located in metamorphosed volcano-sedimentary units in contact with intrusive rocks, some of them hosting lake-sediment arsenic, gold and/or copper anomalies. An aggressive exploration program consisting of mapping, rock and till sampling and ground geophysics is planned on the project for the summer 2005.
“This acquisition will allow Everton to hold key positions near the Eleonore gold discovery in the James Bay region of Quebec” says André Audet, Chairman of Everton.
Marc L’Heureux, P. Geo., Vice President Exploration of Everton will act as the “NI 43-101 Qualified Person” for this project.
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The TSX Venture Exchange neither approves nor disapproves of the information contained in this News Release. The Company’s Shares are listed on the TSX Venture Exchange and trade under the symbol “EVR”.
For more information, please contact
André Audet
Chairman & CEO
Tel: 613 241 2332 Fax: 613 241 6005
[email protected]
www.evertonresources.com
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