2005 News Releases
Maple Mineral Corp.'s Results for the Three Months Ended December 31, 2004
February 23, 2005
For the three months ended December 31, 2004 (compared with the three months ended December 31, 2003):
Revenue (primarily comprised of interest income) increased to $10,383 as compared to $1,550 for the three months ended December 31, 2003;
Exploration expenditures primarily at the Shebandowan group of properties and including the acquisition of the Greenwich Properties totaled $106,374 as compared to $9,325 for the three months ended December 31, 2003;
Operating, general, and administrative expenses increased to $71,563 as compared to $38,602 for the three months ended December 31, 2003;
Stock-based compensation increased to $39,372 as compared to $8,853 for the three months ended December 31, 2003;
Write-off of mineral properties and related expenditures was $42,827 as compared to nil for the three months ended December 31, 2003;
Net loss was $143,379 ($0.01 per share) for the three months ended December 31, 2004 as compared to $45,905 ($0.006 per share) for the three months ended December 31, 2003.
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