RIMOUSKI, QUEBEC — (Marketwire) — 10/12/11 — Ressources Appalaches (TSX VENTURE: APP) is pleased to inform its shareholders that it has made the final $1,500,000 payment on its own behalf, thereby acquiring 100% of the Dufferin Mine in Nova Scotia for a total amount of $4,000,000. The property is free of any royalty (NSR). The transaction comprises the acquisition of the Dufferin Mine, which employs ramp-access mining, together with its processing plant (mill), the mining lease, and the infrastructure required for production.
Since StrikePoint Gold (TSX VENTURE: SKP)(OTCQX: STKXF) did not subscribe for the final payment under the partnership agreement signed in June 2010, it is deemed to have relinquished its option to acquire an interest in the Dufferin project. Ressources Appalaches thus recovers 100% ownership of the Dufferin Mine and those others properties: Chocolate Lake, Miller Lake, Ecum Secum, Dufferin North and Sheet Harbour.
Appalaches doubled the extent of the deposit both eastwards and in depth on the Dufferin Mine. Drill campaigns have confirmed the extension of the gold-bearing quartz veins towards the east and in depth, as well as their regular arrangement, as predicted by the „Saddle Reef Vein“ model. Eighteen quartz veins have been identified to date. The mineralized zone extends over a length of 1,400 metres, and to a depth of nearly 400 metres. Geophysical surveys conducted over the Dufferin Mine and other properties included in the project have outlined the gold-bearing structure at the mine and identified new ones.
The program for the exploration and development of the mine is currently being revised.
About Ressources Appalaches
Since it was created in 1994, the goal of Ressources Appalaches has been to discover and develop deposits of base and precious metals in Canada, and more especially in Quebec and Nova Scotia. Appalaches owns a dozen mineral properties in various stages of exploration, but its activities are mainly focused on the exploration and development of the Dufferin gold mine in Nova Scotia.
Photos of the Dufferin Mine and its facilities are available on the Company-s website at: .
The contents of this press release were prepared and checked by Alain Hupe, Ing., a Qualified Person as defined in NI 43-101. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts any responsibility for the adequacy or accuracy of this release.
This press release may contain certain forward-looking statements that include elements of risk and uncertainty. Consequently, actual results may differ substantially from those anticipated in such statements. These risks and uncertainties are described in the quarterly and annual reports, and in the documents submitted to the securities administration.
Contacts: Ressources Appalaches Inc. Alain Hupe Ing. President 418-724-0901
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