Omineca Mining and Metals Ltd. (TSX-V: OMM) announces that the TSX Venture Exchange has accepted the previously announced option agreement with CanAlaska Uranium Ltd. to acquire a maximum 50% interest in CanAlaska’s Mouse Mountain copper/gold project, encompassing 291 hectares located approximately 15 kilometers due west of the Wingdam project. In accordance with the terms of the Option Agreement the Company has issued 300,000 Omineca common shares to CanAlaska. Omineca may now earn up to a 50% interest in the Mouse Mountain project by completing a 2,000-metre drill diamond program within 12 months of the approval of the TSX Venture Exchange.
The Mouse Mountain project is located in British Columbia’s Quesnel Trough, which is remarkably well endowed with alkalic porphyry Cu-Au deposits, including the Mount Polley, New Afton and Copper Mountain mines. As an adjunct to the Wingdam gold exploration project, Mouse Mountain furthers Omineca’s commitment to gold exploration in the Cariboo Mining District. Previous drilling, trenching and sampling at Mouse Mountain has identified it as an alkalic porphyry Cu-Au project typical of this region.
About Omineca Mining and Metals Ltd.
Omineca Mining and Metals Ltd. controls its flagship Wingdam Project and the Fraser Canyon Project through its wholly owned subsidiary CVG Mining Ltd. The Wingdam Project is located 45 km east of Quesnel B.C. on the Barkerville highway. The property includes both placer and hard-rock tenures along the Lightning Creek valley, where topographic conditions created a thick overburden which preserved a large portion of the channel from conventional surface placer mining activity.
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We acknowledge the [financial] support of the Government of Canada.