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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (1731)	5/29/2007 9:19:38 AM
From: LoneClone	Read Replies (1) \| Respond to of 193209

Hemis Announces Gold Exploration Program in Alaska Tuesday May 29, 5:00 am ET biz.yahoo.com LAS VEGAS, May 29 /PRNewswire-FirstCall/ -- (OTC Bulletin Board: HMSO, Frankfurt: XZA) Hemis Corporation is an international resource company with several advanced stage exploration properties in Mexico and a project in Cook Inlet, Alaska. Hemis' Santa Rita property in Mexico has an Earn-In Agreement with Goldcorp Inc. (TSX: G - News; NYSE: GG - News) through Goldcorp's Mexican subsidiary Glamis Exploration. Hemis Corporation is pleased to announce it has entered into an agreement to acquire Aspen Exploration Corporation's Anchor Point gold project in the Cook Inlet area of Alaska, which includes all of Aspen's interests in maps, aeromagnetic surveys and geological information developed by Aspen in the Cook Inlet as well as rights to Offshore Prospecting Permit (OPP) applications. Under the terms of the agreement, Aspen was paid $50,000 at signing and will be paid this amount on each anniversary of the agreement in order to maintain Hemis' interest in the project. The Aspen is entitled to a 5% production royalty, which may be taken in kind or in cash as Aspen prefers. Aspen geologists, led by R. V. Bailey, Chairman of Aspen's board, carried out exploration for gold in Alaska in the 1980's. Activities at Anchor Point included flying an aeromagnetic survey, beach sampling and the filing of OPPs with the State of Alaska. Uncertainties in the permitting process and a declining price of gold resulted in Aspen putting the project on hold. Dr. Douglas Oliver, Chief Geologist for Hemis explains the rationale for exploration in at Anchor Point: "Gold has been known from the beaches around Cook Inlet for over a century. The gold is often associated with the mineral magnetite which can be identified by geophysical surveys. Our review of the existing aeromag data suggests that the potential exists for off-shore gold deposits in the Anchor Point area." Hemis is currently reviewing the data provided by Aspen. It has also contracted Earthfield Technologies of Houston to process newer aeromagnetic data covering Lower Cook Inlet. Hemis plans to conduct an oceanographic survey over the key areas of interest to get data on bathymetry, sediment stratigraphy and local magnetic variations. Entrix, Inc. has been retained to assist in getting the necessary state and federal permits. Dr. Oliver acknowledges that working in Cook Inlet which has some of Earth's highest tides will present some logistical challenges. However, he states that it also has some advantages: "In Alaska you are always fighting the lack of infrastructure. However, Cook Inlet is located close to the main population center and the offshore nature of this project eliminates the need to build roads. The accessibility of this project was a key factor in our decision to pursue this." About Hemis Corporation Hemis Corporation is a precious metals exploration company trading on the OTCBB under the symbol HMSO and listed on the Frankfurt stock exchange under the symbol XZA. Hemis Corporation is comprised of both a resource division and a resource investment unit. Hemis' high profile team is focused on evaluating gold projects with strong potential. The resource investment unit is actively reviewing other natural resource companies for joint ventures and investment. Hemis is incorporated in Nevada, USA with its head office in Zurich, Switzerland and North American corporate communications representatives in Canada and the United States. Led by an experienced team of exploration geologists and financial professionals, this company has extensive international capital markets experience and proven track records. The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to commencement of drilling operations, concentration in mineral deposits, delays in testing and evaluation of ore samples, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. Hemis Corporation Norman Meier +41 43 355 0228 President hemiscorporation.com Hudson Capital, 1-604-662-3910 Investor Relations hudsoncapital.ca Source: Hemis Corporation