Toronto, Ontario--(Newsfile Corp. - April 22, 2014) - Pasinex Resources Limited (CSE: PSE) (FSE:
PNX) is pleased to announce the receipt of drill permits for its Pinargozu and
Akkaya zinc-lead targets in Adana Province, Turkey. Both projects are 50% owned
by Pasinex, and 50% owned by Pasinex's partner Adana, Akmetal Madencilik San ve
Tic A.S.
Pinargozu is a small, historic, marble-hosted, zinc-oxide mine
and Akkaya is a prospect discovered by soil sampling over limestones and
dolomites carried out by Pasinex. The Akkaya target was described in a news
release dated 19 September, 2012. Both targets lie within less than 10
kilometers along strike from the historic Horzum Mine.
Drilling is planned to start at Pinargozu during the first half
of May, and will progress to Akkaya shortly thereafter.
Steve Williams, CEO, comments that Pasinex has waited quite
some time for the drill permits for the Akkaya and Pinargozu projects and so to
have them now is very positive. We are currently running ground penetrating
radar at these projects to identify the drill targets and so, with the drill
permits in hand now, Pasinex can move quickly from target identification to
drilling.
Pinargozu and Akkaya are owned 50% by Pasinex through Horzum
AS, its joint venture company with Turkish mining company, Akmetal AS.
Clinton Smyth, P.Geo., and VP Exploration for Pasinex, is the
qualified person as defined by National Instrument 43-101 who has verified the
written disclosure of all scientific and technical information in this news
release.
In addition, the Company has completed a second tranche of the
private placement of units announced on April 7, 2014. The second tranche is
composed of 1,449,460 units $0.07 per unit for gross proceeds of $101,462. Each
unit consists of one common share and one-half of share purchase warrant, each
whole warrant entitles the purchaser to acquire an additional common share at
the price of $0.12 for a period of three years from closing. The Company also
paid finder's fees in connection with this placement of $14,000 cash. The
securities issued under this private placement are restricted from trading for a
four month period in accordance with applicable securities laws.
About Pasinex
Pasinex Resources Limited (CSE: PSE) (FSE: PNX) is a base and
precious metal-focused exploration company with a particular priority given to
building a strong portfolio of base metal opportunities in Turkey. The company
has two key projects being the Horzum zinc project in Adana province and the
Golcuk Cu project in Sivas province. Pasinex has a strong technical management
team with many years of experience in mineral exploration and mining project
development.
On Behalf of the Board of Directors
PASINEX RESOURCES
LTD.
"Steve Williams"
Steve Williams
President/CEO
Phone: 416 861 9659
Email: info@pasinex.com
The CSE does not accept responsibility for the
adequacy
or accuracy of this news release.
This news release includes forward-looking statements that
are subject to risks and uncertainties. Forward-looking statements involve known
and unknown risks, uncertainties, and other factors that could cause the actual
results of the Company to be materially different from the historical results or
from any future results expressed or implied by such forward-looking statements.
All statements within, other than statements of historical
fact, are to be considered forward looking. Although Pasinex Resources Ltd.
believes the expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of future
performance and actual results or developments may differ materially from those
in forward-looking statements. Factors that could cause actual results to differ
materially from those in forward-looking statements include: the forgoing
ability to finance exploration in order to further the Pinargozu and Akkaya
projects in 2014, exploration drilling results, and general economic, market or
business conditions. There can be no assurances that such statements will prove
accurate and, therefore, readers are advised to rely on their own evaluation of
such uncertainties. We do not assume any obligation to update any
forward-looking statements.
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