2004 News Releases
Maple Options La Paloma Concession in Dominican Republic
March 19, 2004
TORONTO, Ontario (March 19, 2004) – Maple Minerals Corp. (“Maple”) (TSXV: MPM) is pleased to announce that it has entered into an Intention Agreement to acquire a 100% interest in the La Paloma Concession from A&R Explotaciones Minerals S.A. (“A&R”). The property, consisting of 16,376 mining hectares, is located in the Dajabon province of the Dominican Republic and straddles Unigold Inc.’s Sabaneta property and Neita property, where Unigold has reported diamond drill hole values of up to 2.2 g/t gold over 61 meters on their Los Candelones zone.
The Intention Agreement provides for the payment on closing to A&R of US$40,000, 200,000 Maple common shares and 100,000 Maple warrants, each warrant entitling the holder to acquire one common share of Maple at $0.80. In order to acquire an 80% interest in La Paloma, Maple must conduct a minimum of US$400,000 in exploration expenditures within two years of closing. In order for Maple to acquire the remaining 20% interest in La Paloma, Maple must conduct an additional US$200,000 in exploration expenditures. Closing is subject to the execution of a definitive agreement and regulatory approval.
Maple is a Toronto based resource company with properties in Africa and Canada. For more information about Maple, please visit the company’s website at www.mapleminerals.com.
This news release contains forward-looking statements within the meaning of the “safe harbour” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and other factors that may cause Maple’s results to differ materially from expectations. These include risks relating to market fluctuations, property performance and other risks. These forward-looking statements speak only as of the date hereof. Maple disclaims any intent or obligation to update these forward-looking statements.
The TSX Venture Exchange does not take responsibility for the adequacy or accuracy of this release.
L.M. (Gino) Falzone
(416) 941-9600 ext. 5099