2004 News Releases
Maple Announces Completion of Acquisition of La Paloma Concession in Dominican Republic
TORONTO, ONTARIO, April 26, 2004 – Maple Minerals Corp. ("Maple") (TSXV:MPM) is pleased to announce that it has entered into a definitive agreement in connection with its previously announced acquisition (see press release of Maple dated March 19, 2004) of a 100% interest in the property known as the La Paloma concession from A R Explotaciones Mineras, S.A. (“A R”). The property, which consists 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.
Upon entering into the definitive agreement, Maple paid U.S.$40,000 and issued 200,000 common shares and 100,000 share purchase warrants to A R. Each share purchase warrant will entitle the holder thereof to acquire one common share of Maple at an exercise price of $0.80 for a period of two years. In order to acquire an 80% interest in the La Paloma concession, Maple must conduct a minimum of U.S.$400,000 in exploration expenditures on the property within the next two years. In order for Maple to acquire the remaining 20% interest in the La Paloma concession, it must conduct additional exploration expenditures on
the property in the amount of U.S.$200,000.
Maple is a Toronto based resource company with properties in Africa, the Dominican Republic 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 dis claims any intent or obligation to update these forward-looking statements.
The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of this release.
L.M. (Gino) Falzone