Everton Resources: Corporate Update
Wed Oct 8, 9:30 AM
ca.news.finance.yahoo.com
OTTAWA, ONTARIO--(Marketwire - Oct. 8, 2008) - Everton Resources Inc. (TSX VENTURE: EVR.V)(FRANKFURT: ERV.F) ("Everton" or the "Company") reports that despite recent market downturns, the Company's fundamentals remain strong. Everton has over $5 million in working capital as well as a substantial position in NQ Exploration Inc. (NQE: TSX-V) from the spin-out of its non-core properties in Quebec (press release of May 1, 2008).
"Current market conditions have created unprecedented buying opportunities for investors. Many analysts are now estimating that demand for gold and base metals will continue; fuelling the growth of exploration companies such as Everton," stated Andre Audet, President & CEO of Everton Resources. "Our exploration programs are ongoing and we will continue to advance our projects in Quebec and in the Dominican Republic."
Project Status:
In the Dominican Republic, the first phase of the drill program has been completed on its 100%-owned La Yautia and El Llano polymetallic concessions for a total of 2,500 metres. The second phase of the drill program is scheduled to commence shortly on the newly optioned Fresso concession (option to acquire a 100% interest), in north-western Dominican Republic. Results are anticipated by year-end.
Upcoming Webcast:
Everton Resources is preparing its first webcast. The date and time will be announced via press release as well as on the Company's website at www.evertonresources.com.
Profile:
Everton is well funded and actively exploring in the Opinaca region of James Bay, Quebec where the Company has amassed one of the largest land claims adjacent to Goldcorp Inc.'s ("Goldcorp") (NYSE: GG, TSX: G) Eleonore gold deposit which currently hosts an estimated mineral resource of 3.68 million ounces of gold (December 31, 2007 at $650/oz. Au). Everton is also actively exploring in the Dominican Republic adjacent to the US$2.7 billion Pueblo Viejo project, currently being developed by the world's largest gold mining company, Barrick Gold Corporation (60%) (NYSE/TSX: ABX) in partnership with Goldcorp (40%). Pueblo Viejo is estimated to contain 20.4 million ounces of gold, 2.6 billion pounds of zinc, 423.6 million pounds of copper and 117.3 million ounces of silver.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Contacts
Maureen Doherty
Everton Resources Inc.
Manager Corporate Communications
613-241-2332
613-241-8632 (FAX)
maureen@evertonresources.com
Andre Audet
Everton Resources Inc.
President & CEO, Chairman
613-241-2332
613-241-8632 (FAX)
andre@evertonresources.com
www.evertonresources.com |
