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Canadian Venture Exchange Inc. Symbol YLI |
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Millstream Mines
Ltd. Fax: (416) 368-6827 |
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34,632,043 SHARES ISSUED |
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FOR
IMMEDIATE RELEASE Date: MILLSTREAM AND CROWFLIGHT JOINT
VENTURE EXECUTES AGREEMENT WITH KINROSS GOLD Toronto, Ontario --
Millstream Mines Ltd. (YLI - TSX-V) (representing the Joint Venture between
Millstream Mines Ltd. and Crowflight Minerals Inc.(CML
– TSX-V)) wishes to announce it has executed a Participation and Joint
Venture Agreement with Kinross Gold Corporation to earn a 60% undivided
interest in Kinross’ Falcon Gold Property. The Falcon Gold
Property, located in the Falconbridge Township, Sudbury Mining District,
Ontario, Canada, consists of 7 contiguous Mining Claim Units (6 patented and
1 staked) abutting the south-east corner of Millstream’s Airport Property (47
contiguous staked Mining claim Units). Millstream, to earn its
60% interest, must make an undisclosed cash payment
and perform $450,000 of exploration expenditures on the property within a
three (3) year period. Following the earning of its 60% interest, each party
is obligated to fund further expenditures in accordance with its held
interest in the property, with a standard J.V. dilution factor applicable in
the event of a party electing not to fund. The majority interest holder shall
be the designated Operator and the Management Committee is governed by
majority vote. The Falcon Gold
Property to date has been mainly explored for the discovery of gold. A
summary report, dated Both the above
mentioned Sudbury Breccia and the Garson Fault
System extend east into Millstream’s Airport Property. Millstream’s
management team believes this environment presents excellent opportunities
for identifying drill targets utilizing the deep penetrating I.P. geophysic system currently being used on the northern
part of its Airport Property. The model target (massive sulphide, fairly
narrow in width and length and penetrating to unknown depth) established to
investigate the Airport Property will be utilized with some modifications to
accommodate gold potential targets. Millstream would also like to
remind the interested public of its website location @
www.millstreammines.com. The principle objective
of Millstream Mines Ltd. is to enhance and develop known mineral properties
to production potential. |
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For further
information contact: |
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Mr. Ernest Harrison, EM,
CEO Mr. Marty Martinello,
B.A., V.P. |
Phone:
705-474-7282 Fax:
705-474-5491 |
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Mr. Robert Chase, B.A.,
CFO |
Phone:416-368-9595 Fax: 416-368-6827 |
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Email: info@millstreammines.com Web:www.millstreammines.com |
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No regulatory authority or similar
body approved nor disapproved the information contained herein. |
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