TORONTO, ONTARIO — (Marketwire) — 06/14/12 — Greenock Resources Inc. (TSX VENTURE: GKR) („Greenock“) announces it continues to evaluate strategic options to advance the Needles gold / silver property in Nevada. Fieldwork based on the NI 43-101 exploration plan is dependent of finalizing financing and / or completing joint venture arrangements.
The recent general market weakness in the small cap mineral development sector has resulted in a number of high quality properties that may become available. Greenock is reviewing Canadian flow through eligible mineral properties may be added to the corporate portfolio.
Greenock has received no interest and quit claim fees based on a rationalization of dormant and expired minority joint venture agreements for properties in Northern Ontario. The company continues to reduce general and administrative expenses and evaluate corporate plans.
ABOUT GREENOCK
Greenock Resources Inc. is a Canadian based international mineral development company that focuses on developing a portfolio of natural resource properties. Shares outstanding: 33,139,470.
Greenock holds a 100% interest in the Needles gold / silver property located in the Arrowhead mining district of Nye County, Nevada. The property is approximately 40 miles southeast of the Barrick – Kinross Round Mountain Gold Mine. The Needles property has had historical underground mining for gold and silver in the early 1920s.
This press release includes certain „Forward-Looking Statements“ within the meaning of applicable securities laws. Other than statements of historical fact, all statements are „Forward-Looking Statements“ that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these „Forward-Looking Statements“. Michael Newbury, P.Eng., is the qualified person who has reviewed this material on behalf of the Company. All dollar amounts are noted in Canadian dollars unless otherwise stated in this release.
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.
Contacts: Greenock Resources Inc. James S. Hershaw CFO & Vice President, Corporate/ Mineral Development (416) 603.7200 (416) 603.9200 (FAX)
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