Latest News April, 2010
News
Drilling Recommended For Shining Tree Gold Project
Vancouver, BC – Thursday August 12, 2010
Pro Minerals Inc. (TSX.V: PRM); and its Board of Directors are pleased to announce that, based on positive results now received from the 2010 exploration program on the company’s 100% owned Shining Tree Gold Project, a multi-phase diamond drilling program has been recommended. Results from all phases of the 2010 exploration program (prospecting, geological mapping, outcrop sampling and geophysical surveys) have been received, compiled and interpreted by consulting geologist Robert D. Stewart of Integeos Inc., who has put forth the affirmative recommendation. Robert D. Stewart will be integral in the planning and execution of follow up drilling on the project.
Pro Minerals Engages IBK Capital As Lead Investment Bank To Raise Up To $1 Million
Vancouver, BC – Monday, July 5th 2010
Pro Minerals Inc. (TSX.V: PRM); and its Board of Directors are pleased to announce that the Company has engaged IBK Capital Corp to act as lead investment bank for a non-flow-through offering of up to $1 million dollars in a brokered, best-efforts private placement of Units of the Company at a price of 7 cents per Unit. Each Unit consists of one common share and one share purchase warrant of the Company. Each warrant entitles the holder to purchase one additional common share of the Company at 15 cents for a period of two years following the closing of the offering. The primary purpose of the new financing is for development of the Company’s Shining Tree, and Lac Laura Gold Projects. Pro has selected IBK Capital to lead this round of financing because of IBK Capital's impressive history, spanning more than 21 years in the mining, renewable energy and technology market sectors. Over the past sixteen years, IBK have raised over $700 million in equity-related funding for junior clients. IBK will start scheduling meetings with the investment community immediately.
Shining Tree Gold Project - Geophysical Results Received and Follow Up Program Initiated
Vancouver, BC – Tuesday, June 15th 2010, 8:00 am PST
Pro Minerals Inc. (TSX.V: PRM); and its Board of Directors are pleased to announce that the company has now initiated a follow-up exploration program on its 100% owned Shining Tree Gold Project, after receipt of positive geophysical results. Pro recently received Insight Geophysics’ Final Report from the Tuned Gradient IP Survey carried out this spring on the project. The survey successfully identified a number of high priority targets which will now be followed up by bedrock sampling. A crew has been dispatched to the field and will be led by Robert D. Stewart, P.Geo. In recent months, Pro Minerals Inc.’s ongoing exploration program at Shining Tree consisting of GIS compilation, prospecting, geological mapping and geophysical surveys have outlined targets at surface and at shallow depth that warrant follow-up inspection and drilling.
Disco Lake Project Expanded
Vancouver, BC – Wednesday May 5th, 2010, 7:30 am PST
Pro Minerals Inc. (TSX.V: PRM); and its Board of Directors are pleased to announce that the company has expanded its wholly owned Disco Lake Project by purchasing 20 claims or 5,218 acres, located due south of the current claim package. This brings the total number of claims to 55. The project now extends 21 kilometres North to South, and nearly 28 kilometres East to West covering 17,129 acres. These new claims cover all high priority exploration targets. Pursuant to the terms of three Agreements, Pro Minerals has acquired a 100-percent interest in the claims by paying the vendors a total of 850,000 common shares of the company, and $63,000.00
Disco Lake Vms Project - Phase 2 Exploration Program Complete
Vancouver, BC - Wednesday, April 28th 2010, 10:45 am PST
Pro Minerals Inc. (TSX.V: PRM); and its Board of Directors are pleased to announce that the Company has now completed the second phase of exploration on its Disco Lake VMS Project. The program consisted of additional line cutting, and extensive prospecting, surface sampling and mapping. The company will issue a news release to report on the assays and geophysical results once received. Pro’s geological team will be assessing the data compiled from these first two exploration programs and correlating the results with all historic data from the project. Once all of the data has been compiled and assessed, a summer follow up program will be designed and scheduled.
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