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 Andr� 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
Andr� Audet
Chairman & CEO
Tel: 613 241 2332 Fax: 613 241 6005
[email protected]
www.evertonresources.com
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