Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: LoneClone who wrote (20714)	6/2/2008 9:37:38 PM
From: LoneClone	Read Replies (1) \| Respond to of 194708

Newstrike Resources Ltd. Announces Closing of the Acquisition of Patented Claims in Kirkland Lake Area Mon Jun 2, 11:08 AM ca.news.finance.yahoo.com TORONTO, ONTARIO--(Marketwire - June 2, 2008) - Newstrike Resources Ltd. (TSX VENTURE: NR.V) ("Newstrike") is pleased to announce that it has completed its previously announced acquisition of 100% of the legal and beneficial interest in the property known as the Kirkland Lake East property (the "Property"), subject to a 2% net smelter royalty ("NSR"), from Jaques Day, Gerald F. Day, Thomas S. Day, J. David Day, Blair Day and certain other parties. The Property is located in the Larder Lake mining division of northeastern Ontario, approximately eight miles east of Kirkland Lake, Ontario on the Kirkland Lake-Rouyn highway. The Property consists of six patented mining claims with two shafts (#1 shaft to approximately 100 feet, and #2 shaft to approximately 1,625 feet), and was formerly held by Morris Kirkland Gold Mines Limited. As consideration for the purchase of the Property, Newstrike made a cash payment of $75,000 and issued an aggregate of 250,000 common shares, such common shares being subject to resale restrictions expiring on October 1, 2008. Newstrike also retains the ability to purchase 50% of the NSR at any time upon payment of $500,000. Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Newstrike, including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of resource and reserve estimates, currency fluctuations, dependence upon regulatory approvals, the availability of future financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release. Contacts Donald Rankin Newstrike Resources Ltd. Director (416) 628-6556 Website: www.newstrikeresources.com