Roxmark completes acquisition of three properties along strike from Northern Empire Gold Mine

About this update from Atlas Salt Inc

[{"type":"text","content":"\n\n\n\nTORONTO, Nov. 8 /CNW Telbec/ - Roxmark Mines Limited (TSXV - RMK)\n(CNQ - RMKL) announces that it has issued an aggregate of 115,940 shares in\nsatisfaction of payments due under three option agreements (the "Agreements")\nto acquire the Amede Properties totalling $26,666.67. The securities issued\nare subject to a hold period expiring on March 7, 2008. The Agreements were\npreviously announced in the Company's July 12, 2007 news release.\n\n\nThe Agreements have a term of four years and will require additional\naggregate payments at Roxmark's option of $60,000 by July 8, 2008 and $180,000\nduring the period between the second and fourth anniversaries of the\nAgreements.\n\n\nAn exploration surface program is being carried out simultaneously on two\nproperties by Roxmark crew under the supervision of Peter Bevan, Consulting\nGeologist. Work includes stripping, trenching, sampling and geological mapping\nof these gold-bearing structures.\n\n\nHistorically, the Northern Empire Mine produced 149,053 ounces of gold\nfrom 425,866 tons with a recovery of 0.35 oz. in gold per ton. The mine was\nserviced by a shaft to 2,460 feet with development above and below a major\nflat diabase sill. Existing infrastructure on the property, including an\nupgraded and fully permitted 200 tpd mill (expandable to 500 tpd), as well as\nthe mine's non-remote location, will reduce the cost of future development.\n\n\nAbout Roxmark Mines\n\n\nRoxmark Mines Limited is the leader in gold and molybdenum exploration\nand development in the historically significant Geraldton-Beardmore area of\nNorthwest Ontario. In the last two years, Roxmark has generated cash flow from\nbulk-sampled gold and molybdenum processed at its fully-permitted mill and has\nthe advantage of infrastructure from six formerly highly productive gold mines\nlocated on its properties. These mines previously produced nearly two million\nounces of gold from high grade ore but were closed primarily due to\ndramatically lower gold prices at the time and to boundary issues, since\neliminated.\n\n\nFurther information is available on the Company's website at\nwww.roxmark.com and on SEDAR under the Company's profile at www.sedar.com.\n\n\nForward-Looking Statements\n\n\nThis news release includes certain "forward-looking statements". Such\nforward-looking statements in...

More updates from Atlas Salt Inc