Business
Fairmont Resources Inc.: Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - May 24, 2017) - Fairmont Resources Inc. (TSXV: ...
About this update from Future Mineral Resources Inc.
[{"type":"text","content":"Fairmont Resources Inc.: Corporate UpdateVancouver, British Columbia--(Newsfile Corp. - May 24, 2017) - Fairmont Resources Inc. (TSXV: FMR) (\"Fairmont\" or the \"Company\") announces that, in connection with its Granitos de Badajoz (\"Grabasa\") acquisition, to the best of the company's knowledge, Fairmont's offer to acquire the assets of Grabasa remains in good standing, as the company has not received any notification from the Court located in Badajoz, Spain. Fairmont has been working with a Canadian funding partner who has requested an extension to complete due diligence, but that funding partner has not received any response with respect to the extension request. Fairmont continues to work toward completing the acquisition of Grabasa, and the restart of the plant with the operational, technology and sales team from Balke & Partner. Once additional information on the Grabasa transaction has been received by Fairmont, a press release will be issued.Management from Fairmont attended the inaugural StoneX Canada Trade Show in Toronto last week. The Show is Canada's first dedicated event and educational program to the stone, terrazzo, ceramic and tile industries. StoneX Canada brings together leading manufacturers, importers, exporters, distributors, buyers, and building professionals for three days in an exposition and educational presentation atmosphere. Upon successful completion of the Grabasa acquisition, this event would be the showcase for Grabasa products into the market.Samples from Baie Comeau are expected to be collected later this month or early June due to a late snow melt along the North Shore of the St Lawrence River and soft bush road conditions.Planning for larger bulk sampling at Baie Comeau, Buttercup and Forestville Projects in Quebec are also underway.About Fairmont Resources Inc.Fairmont Resources Inc. is a rapidly growing industrial mineral and dimensional stone company trading on the Toronto Venture Exchange symbol FMR.Fairmont's Quebec properties cover numerous occurrences of high-grade titaniferous magnetite with vanadium, with the Buttercup property having a permit to quarry dense aggregate. Where these occurrences have been tested they have display exceptional uniformity with respect to grade. Fairmont also controls three quartz/quartzite properties, with the Forestville property having independent...