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Transition Metals and Nunavut Resources Corp Acquire Additional High Potential Gold and Base Metals Property in Nunavut
SUDBURY, ON , July 23, 2014 /CNW/ - Transition Metals Corp. (XTM – TSX.V)  ("...
About this update from Transition Metals Corp.
[{"type":"text","content":"\n\nSUDBURY, ON, July 23, 2014 /CNW/ - Transition Metals Corp. (XTM – TSX.V)  (\"Transition\", \"the Company\"), is pleased to announce that through its strategic alliance partnership with Nunavut Resources Corporation (NRC), an additional 433 square kilometres of high potential gold and base metal exploration properties have been acquired in Nunavut. The properties along what has been termed the Izok-Grays Bay road infrastructure development corridor were acquired through the execution of a Mineral Exploration Agreement (MEA) with Nunavut Tunngavik Inc. (NTI). NTI manages the subsurface mining rights on Inuit Owned Lands (IOL) in Nunavut on behalf and for the benefit of all Inuit.\n\nCommenting on the transaction, Transition President and CEO Scott McLean stated, \"We are pleased to have assembled such high potential exploration properties in Nunavut. Our objective has been to acquire the best exploration opportunities along the proposed Izok Lake – Grays Bay development corridor and make discoveries that can contribute to and benefit from economic advantages that would come from any road development into the area. We look forward to advancing these projects together with our partner NRC and to attracting new investment to the region for the benefit of shareholders, Inuit and the people of Nunavut\"\n\nSprott Vancouver Natural Resource Symposium 2014:\n\nThis week, Transition will be exhibiting at the Sprott Vancouver Natural Resource Symposium at the Fairmont Hotel, 900 West Georgia Street Vancouver. Please drop by booth 56 on July 23rd and July 24th.  Company President and CEO Scott McLean will speak about the latest company activities at 3:40 on Wednesday, July the 23rd in the Tweedsmuir Room.\n\nBackground:\n\nIn March 2012, a Strategic Alliance Agreement was struck between NRC and HTX Minerals, a wholly owned subsidiary of Transition. NRC is an Inuit-owned resources corporation that invests in exploration and development projects in Nunavut as a way for the people of Nunavut to benefit from resource development through direct participation. Under the terms of this Alliance, NRC is expected to supply funding and access to a large region of highly prospective and under-explored land, and Transition provides technical expertise and operations support with an objective of attracting investment to new ex...