2005 News Releases
Maple Minerals Corp.'s Results for Year Ended September 30, 2004
January 12, 2005
For the year ended September 30, 2004 (compared with September 30, 2003):
Revenue (primarily comprised of interest income) increased to $29,231 as compared to nil for fiscal year 2003;
Operating, general, and administrative expenses increased to $228,798 as compared to $36,344 in 2003;
Stock-based compensation increased to $159,882 as compared to nil for fiscal year 2003;
Write-off of mineral properties and related expenditures was $1,190 as compared to $470,712 in 2003;
Mineral properties and related expenditures expanded four-fold to $1,052,564;
Net loss was $360,639 ($0.03 per share) for the year ended September 30, 2004 as compared to $507,056 ($0.08 per share) for the year ended September 30, 2003.
Positive working capital was restored, totaling $2,234,990 at year end.
Maple Minerals Corp. (TSXV: MPM) is a Toronto based resource company with properties in Africa, Canada and the Dominican Republic. 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 and cautions investors from placing undue reliance on forward-looking statements. Maple does have an ongoing obligation to disclose material information as it becomes available .
The TSX Venture Exchange does not take responsibility for the adequacy or accuracy of this release.
L.M. (Gino) Falzone