What do people think of this? Are they selling this property cuz they are in dire need of cash?
GOLDEN RULE RESOURCES LTD ("GNU-T;GLDUF-L") - Sells Rheco-Lenado
Property In Colorado
Golden Rule Resources Inc., a wholly owned subsidiary of Golden Rule Resources
Ltd. has sold its Rheco-Lenado property in Colorado. The property, consisting of
179.57 acres is located about 16 miles from Aspen, Colorado. Golden Rule
Resources Inc. will receive about $675,000 U.S. after applicable commissions,
closing costs and taxes. The selling price has been determined by its real estate value rather than its mineral exploration
potential. The property was explored by Golden Rule Resources Inc. from 1980 to 1983 for its potential to host
lead-zinc-silver mineralization, but due to the negative exploration results, the changing environmental and regulatory situation in
the Aspen area, exploration was suspended.
No Canadian Stock Exchange has approved nor disapproved of the information contained herein.
All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various
risks and uncertainties, including, without limitation, statements regarding the potential extent of mineralization and reserves,
exploration results and future plans and objectives of Golden Rule Resources Ltd. These risks and uncertainties include, but are
not restricted to, the amount of geological data available, the uncertain reliability of drilling results and geophysical and geological
data and the interpretation thereof and the need for adequate financing for future exploration and development efforts. There can
be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from
those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the
estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. The
Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or
opinions change. TEL: (403) 233-7898
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