Firebird Resources Inc. Announces Final Approval of Option Agreement
VANCOUVER, British Columbia/January 12, 2011/ -- Firebird Resources Inc. ("Firebird" or the "Company") announced today that the TSX Venture Exchange (the "TSXV") has provided final approval of Firebird's previously announced option agreement (the "Option Agreement") with Pageland Minerals Ltd. ("Pageland"). Pursuant to the Option Agreement, Firebird may acquire up to a 100% interest in certain mineral leases held by Pageland within the Counties of Lancaster and Chesterfield in the State of South Carolina (the "Mineral Leases") on the terms and conditions set forth in the Option Agreement. The Mineral Leases consist of twenty separate mineral leases constituting a total area of approximately 2000 acres over three prospective gold properties, being the Buzzard, Jefferson and Belk properties.
Firebird also announced today that it has filed a National Instrument 43-101 ("NI 43-101") Technical Report dated July 18, 2010 (the "Report") with respect to the Buzzard and Jefferson prospects titled "Buzzard and Jefferson Prospects, Technical Report on Gold Exploration in the Haile-Brewer Gold Trend, Carolina Slate Belt Province, Chesterfield and Lancaster Counties, South Carolina USA". The Report was prepared by consulting minerals geologist Richard C. Capps, PhD, CPG, and can be found on SEDAR at www.sedar.com. Mr. Capps is a "Qualified Person" as defined by NI 43-101, and is responsible for the Report and has reviewed and approved disclosure of the Report.
The Company intends to file additional information with respect to the Report in a subsequent news release.
For further information, please contact:
Thomas R. Tough, P. Eng., President
Firebird is a mineral exploration company whose long term objective is to build a diversified company focused on the acquisition, exploration and development of mineral properties.
This news release contains certain forward-looking statements that reflect the current views and/or expectations of management with respect to performance, business and future events, including but not limited to express or implied statements and assumptions regarding the Company's intention to exercise the option referred to herein, the suitability of the properties for mineral exploration, the mineral content of the properties, the potential for recoverability of mineral from the properties on economically practical terms, the outcome of the Company's due diligence review and the receipt of necessary regulatory approvals. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, that the Company will choose not exercise the option and those risks relating to changes in the market, potential downturns in economic conditions, fluctuations in the price and supply of raw materials, equipment and skilled labour, fluctuations in the market price of minerals, foreign exchange fluctuations, regulatory requirements and changes thereto, competition, and other risk factors listed from time to time in the Company's public filings. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.