Duncan Park Enters into Dome Property Joint Venture Agreement with Sphere Resources Inc.
August 08, 2013 — Toronto, Ontario (Source: Marketwired) — Duncan Park Holdings Corporation (TSX VENTURE:DPH)(OTCQX:DCNPF) (“Duncan Park”) announced that it has entered into a joint venture agreement (“JV Agreement”) with Sphere Resources Inc. (“Sphere”) with respect to the Dome property in Ontario’s Red Lake Gold District (the “Property”).
The option agreement previously entered into by Duncan Park and Sphere with respect to the Property contemplated that the parties would enter into a joint venture agreement, with respect to future exploration on the Property, following the earn-in date. As previously disclosed, Duncan Park had earned a 75% interest in the Property with Sphere retaining the balance.
Duncan Park will be the operator of the project under the JV Agreement.
“We look forward to continued exploration of property when funding and other conditions allow for it,” says Ian McAvity, president and CEO of Duncan Park.
About Duncan Park
Duncan Park is a Toronto-based mineral exploration company exploring for gold and other precious metals in Ontario’s prolific Red Lake gold mining district.
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Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information with respect to Duncan Park’s exploration plans. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “does not anticipate”, or “believes” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, or “will be taken”, “occur”, or “be achieved”. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Duncan Park to be materially different from those expressed or implied by such forward-looking information, including risks related to exploration plans, such as market conditions and obtaining necessary financing and requisite approvals, risks related to joint venture arrangements, as well as risks associated with the exploration, development and mining industry such as economic factors, future commodity prices, changes in foreign exchange and interest rates, government regulation, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with exploration and development activities, availability of skilled labour and equipment, the speculative nature of gold exploration and development, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Duncan Park’s management’s discussion and analysis for the period ended May 31, 2013, available on www.sedar.com. Although Duncan Park has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Duncan Park does not undertake to update any forward-looking information contained herein, except in accordance with applicable securities laws.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>