Welcome To The Amarok Resources HUB On AGORACOM

Edit this title from the Fast Facts Section

Free
Message: NR new agreement on McNeil property (10,000 acres) near Timmons/Kirkland Lake
Amarok Acquires Significant Land Position within Prolific Abitibi Greenstone Belt
Amarok Acquires Significant Land Position within Prolific Abitibi Greenstone Belt

Apr. 1, 2011 (TheNewswire.ca) --

Rancho Santa Margarita, CA, April 1 2011 - Amarok Resources Inc. (OTCBB: AMOK) Amarok Resources Inc. (the "Company" or "Amarok") is pleased to announce it has signed an agreement with Warrior Ventures, Inc. a private company, to acquire 100% of the McNeil Gold Property. The McNeil property is located within the Abitibi Greenstone belt, approximately 30 miles southeast of Timmins, Ontario, Canada and approximately 35 miles west of Kirkland Lake, Ontario, Canada.

The Abitibi Greenstone belt is host to one of North America's largest gold producing districts along with the famous Porcupine-Destor fault zone. The Porcupine Mining District (Timmins) has produced in excess of 70 million ounces of gold from such famous producers as the Hollinger Mine, McIntyre Mine, Pamour Mine and Canada's longest continuously producing gold mine with nearly 100 years continuous production, the Dome Mine. The Kirkland Lake area, known as the Larder Lake Mining District, has produced in excess of 24 million ounces of gold with such famous producers as the Wright-Hargreaves Mine, the Lakeshore Mine and the Macassa Gold Mine. Combined these two districts have produced over 80 % of Canada's total gold production to date.

The McNeil Gold Property includes 256 claim units, approximately 10,100 acres (4100 hectares), and consists of numerous high-grade shafts and past showings along with many new discoveries made through past work programs. Throughout the approximate 5.2 mile by 3.7 mile McNeil property, there are extensive gold mineralization occurrences and zones. The Isadore-MicMac zone covers an area of 1.2 miles by 0.6 miles and has numerous gold showings. Given the size and extent of the Isadore-MicMac zone, the potential exists for a large tonnage, "Super-Pit" style gold enrichment similar to those being currently mined near Timmins Ontario such as the Porcupine Gold Mines. Porcupine Gold Mines is owned by GoldCorp (NYSE:GG) and consists of the Hoyle Pond and Dome underground mines.

The purchase price of the property will consist of the issuance to Warrior of 1,400,000 shares of Amarok's restricted common stock along with an option to purchase 1,400,000 common shares of Amarok Resources, Inc. at a price of $1.00 per common share until October 1, 2011. Any options remaining unexercised as of October 2, 2011 may be exercised at a price of $1.25 per common share until March 31, 2012, after which the option to purchase any shares of Amarok will automatically terminate. These shares will be issued subject to Rule 144 of the United States Securities Regulations.

Amarok Resources is a US based exploration and development Company, focusing on the acquisition and development of Gold, Silver and base metal projects which demonstrate high probability for near term production. Amarok is quoted on the OTCBB under the symbol AMOK.

AMOK encourages

Share
New Message
Please login to post a reply