(TheNewswire)
Brossard (Quebec) / TheNewswire / November 2nd, 2017 Nippon Dragon Resources Inc. ("Nippon" or "NDR") (TSX-V Symbol: NIP), is pleased to announce the confirmation of its strategic partnership agreement with Val d'Or Resources (VOR). The partnership agreement will enhance Nippon's position as an industry leader with its exclusive and patented thermal fragmentation technology.
Through the creation of a new entity, Rocmec Gold Inc., the new partnership is expected to significantly expand Nippon's reach within Canada and other key markets. In the joint venture, NDR will contribute certain assets and resources, while VOR will contribute 16 million CDN dollars in cash based on a predetermined schedule, which at term will allow VOR to acquire a 49% interest in the joint venture.
The partnership is a strong strategic fit, leveraging both companies' respective strengths, which at the outset will target three main objectives:
- Re-activate the Rocmec 1 project, including paying off its first rank mortgage;
- Exploration diamond drill campaign on the Denain project and production of a 43-101;
- Acquisition of a percentage of the patents pertaining the thermal fragmentation technology
"Today's announcement is a major milestone for Nippon and its shareholders. This partnership will help develop and deliver the full potential of our technology by giving us the required financial backing, strong management and a solid business foundation. Val d'Or Resources Inc. is the perfect partner to help us fully realize our long term goals and objectives." stated Mr. Donald Brisebois, president & CEO of Nippon Dragon Resources Inc.
About Nippon
Nippon is active in the exploration and the development of gold resources in Quebec. The Corporation holds a gold property with resources recognised in accordance with NI43-101 and also an exclusive license for the Thermal Fragmentation mining method.
The company's growth strategy is based on:
- The development of its gold deposits with the objective of producing revenue from its operations;
- Increasing the value of its mining assets by prioritizing the exploration targets; and
- The commercialisation and employment of its thermal fragmentation technology.
For additional information:
John Stella, Investor relations(514) 718-7976jstella@nippondragon.com
Donald Brisebois, President & CEO (450) 510-4442 dbrisebois@nippondragon.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration and production activities and events or developments that the Corporation expects, are forward looking statements. Although the Corporation 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 market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
Ressources Nippon Dragon Resources Inc. 7055 Taschereau Blvd., suite 500, Brossard (Quebec) J4Z 1A7
Tel: (450) 510-4442 www.nippondragon.com
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