RIMOUSKI, QUEBEC — (Marketwire) — 09/11/12 — Ressources Appalaches (TSX VENTURE: APP) announces that it will not be proceeding with the loan financing as announced June 28, 2012, resulting from the inability of both parties to conclude within the prescribed parameters and the set deadline. Ressources Appalaches is considering alternative financing scenarios with a focus of ensuring a limited additional share dilution.
At present, Ressources Appalaches has sufficient funds to conduct dewatering activities at its Dufferin mine site, including the rehabilitation of galleries, sampling and underground mapping. These works will contribute towards the ultimate objective of restarting production with the existing mine plant and enhance the Company-s stance to negotiate a better financing offer.
About Ressources Appalaches
Founded in 1994, the goal of Ressources Appalaches has been to discover and develop deposits of base and precious metals in Canada, and more specifically in the Appalachian geological formation of Quebec and Nova Scotia. Ressources Appalaches is now mainly focused on the development of the Dufferin gold mine in Nova Scotia.
The contents of this press release were prepared and checked by Alain Hupe, Eng. 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: Alain Hupe, Eng. President 418-724-0901
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