Barker Minerals Ltd (BKMNF) 0.0163 $BKMNF
Barker Minerals Ltd. Reports Disposition of Non Core Assets
Filing Services Canada - Tue Oct 07, 3:18PM CDT
Barker Minerals Ltd. Reports Disposition of Non Core Assets Prince George, British Columbia (FSCwire) - Barker Minerals Ltd. (BML on TSXV) (Barker or the Company) reports that Barker has entered into a purchase and sale agreement pursuant to which Barker has agreed to the sale of a small portion of non-core mineral claims (20 mineral cells) totalling approximately 400 hectares located in the Companys Black Bear project to Zion Minerals Ltd. (the Purchaser) a corporation controlled by Mr. Leroy Campbell (49.25%), a director and insider of Barker and Mrs. Karen Campbell (49.25%), an insider of Barker. The consideration for the disposition is: (i) the payment to Barker of $260,000 on closing ($10,000 of which will be allocated to carrying costs to move the expiry dates for the claims forward one year); (ii) a 1.5% net smelter royalty (NSR); and (iii) a right of first refusal to reacquire the subject properties. The mineral cells included in the transaction comprise a very small portion (approximately 0.425%) of Barkers overall mineral claims. The mineral cells have mineral showings of lead, silver and gold in quartz veins which have been explored by various operators over the past 66 years. The exposed quartz veins have been evaluated in the past for their high grade bulk sample potential. Barkers trenching and limited drilling programs were insufficient to determine the full economic potential of a bulk sample. More work is required in order to determine the potential of a bulk sample, or if there is an economic ore body present on the mineral claims. Barkers intent is to carry on exploration of higher priority targets on its vast mineral claim holdings and should something of economic interest be found on the Providence and Hunt targets Barker can share in such success due to the 1.5% NSR and the right of first refusal included as terms in the transaction. The proposed transaction is considered a related party transaction for the purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (MI 61-101). The independent members of the board of directors of Barker approved the proposed disposition and the related documentation. Based on the foregoing, the board of directors that the proposed consideration is fair and that it would be in the best interests of Barker to enter in the agreement with respect to the disposition. Barker is relying on an exemption from the minority approval and valuation requirements of MI 61-101 due to the fact that the fair market value of the transaction does not represent greater than 25% of Barkers market capitalization. The proposed disposition is a reviewable transaction under Policy 5.3 Acquisitions and Dispositions of Non-Cash Assets of the TSX Venture Exchange (the TSXV). No finders fees will be paid in paid in this transaction. The transaction is subject to certain conditions, including approval of the TSXV. The scientific and technical information contained in this news release was prepared under the supervision of Rein Turna, B.Sc., P.Geo. the Company's "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects. About Barker Minerals Barker Minerals is advancing exploration on its mineral properties in the Cariboo Gold District, one of the most mineralized belts in British Columbia. The Company has more than 20 projects on its exploration properties, all of which are 100% owned by Barker Minerals. Eight projects have drill-ready gold and/or massive sulphide targets. Certain statements in this press release may be considered forward-looking information, including those relating to "plans" of the Company. Such information involves known and unknown risks, uncertainties and other factors -- including the availability of funds, the results of financing and exploration activities, the interpretation of drilling results and other geological data, project cost overruns or unanticipated costs and expenses and other risks identified by the Company in its public securities filings -- that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. FOR FURTHER INFORMATION PLEASE VISIT OUR WEBSITE WWW.BARKERMINERALS.COM (http://WWW.BARKERMINERALS.COM) OR CONTACT: Louis E. DoyleRobert H. Kuhl Tel: (250) 563-8752 Tel: (604) 321-0709 Fax: (250) 563-8751 Fax: (604) 321-0719 barker@telus.net (mailto:barker@telus.net) bmls@shaw.ca (mailto:bmls@shaw.ca) 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. To view this press release as a PDF file, click onto the following link: http://www.fscwire.com/sites/default/files/ne...072014.pdf Source: Barker Minerals Ltd. (TSX Venture:BML) http://www.barkerminerals.com/s/Background.asp Maximum News Dissemination by FSCwire. http://www.fscwire.com Copyright(C)2014 Filing Services Canada Inc.
BML.VN: 0.010 (unch)
Barker Minerals Ltd. Identifies New Mineralization on Trend with the Frank Creek VMS and Gold Project
Filing Services Canada XHTML - Tue Oct 07, 12:28AM CDT
BML.VN: 0.010 (unch)
Barker Minerals Ltd. Reports Disposition of Non Core Assets
Filing Services Canada - Tue Oct 07, 3:18PM CDT
Barker Minerals Ltd. Reports Disposition of Non Core Assets Prince George, British Columbia (FSCwire) - Barker Minerals Ltd. (BML on TSXV) (Barker or the Company) reports that Barker has entered into a purchase and sale agreement pursuant to which Barker has agreed to the sale of a small portion of non-core mineral claims (20 mineral cells) totalling approximately 400 hectares located in the Companys Black Bear project to Zion Minerals Ltd. (the Purchaser) a corporation controlled by Mr. Leroy Campbell (49.25%), a director and insider of Barker and Mrs. Karen Campbell (49.25%), an insider of Barker. The consideration for the disposition is: (i) the payment to Barker of $260,000 on closing ($10,000 of which will be allocated to carrying costs to move the expiry dates for the claims forward one year); (ii) a 1.5% net smelter royalty (NSR); and (iii) a right of first refusal to reacquire the subject properties. The mineral cells included in the transaction comprise a very small portion (approximately 0.425%) of Barkers overall mineral claims. The mineral cells have mineral showings of lead, silver and gold in quartz veins which have been explored by various operators over the past 66 years. The exposed quartz veins have been evaluated in the past for their high grade bulk sample potential. Barkers trenching and limited drilling programs were insufficient to determine the full economic potential of a bulk sample. More work is required in order to determine the potential of a bulk sample, or if there is an economic ore body present on the mineral claims. Barkers intent is to carry on exploration of higher priority targets on its vast mineral claim holdings and should something of economic interest be found on the Providence and Hunt targets Barker can share in such success due to the 1.5% NSR and the right of first refusal included as terms in the transaction. The proposed transaction is considered a related party transaction for the purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (MI 61-101). The independent members of the board of directors of Barker approved the proposed disposition and the related documentation. Based on the foregoing, the board of directors that the proposed consideration is fair and that it would be in the best interests of Barker to enter in the agreement with respect to the disposition. Barker is relying on an exemption from the minority approval and valuation requirements of MI 61-101 due to the fact that the fair market value of the transaction does not represent greater than 25% of Barkers market capitalization. The proposed disposition is a reviewable transaction under Policy 5.3 Acquisitions and Dispositions of Non-Cash Assets of the TSX Venture Exchange (the TSXV). No finders fees will be paid in paid in this transaction. The transaction is subject to certain conditions, including approval of the TSXV. The scientific and technical information contained in this news release was prepared under the supervision of Rein Turna, B.Sc., P.Geo. the Company's "qualified person" under National Instrument 43-101 Standards of Disclosure for Mineral Projects. About Barker Minerals Barker Minerals is advancing exploration on its mineral properties in the Cariboo Gold District, one of the most mineralized belts in British Columbia. The Company has more than 20 projects on its exploration properties, all of which are 100% owned by Barker Minerals. Eight projects have drill-ready gold and/or massive sulphide targets. Certain statements in this press release may be considered forward-looking information, including those relating to "plans" of the Company. Such information involves known and unknown risks, uncertainties and other factors -- including the availability of funds, the results of financing and exploration activities, the interpretation of drilling results and other geological data, project cost overruns or unanticipated costs and expenses and other risks identified by the Company in its public securities filings -- that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. FOR FURTHER INFORMATION PLEASE VISIT OUR WEBSITE WWW.BARKERMINERALS.COM (http://WWW.BARKERMINERALS.COM) OR CONTACT: Louis E. DoyleRobert H. Kuhl Tel: (250) 563-8752 Tel: (604) 321-0709 Fax: (250) 563-8751 Fax: (604) 321-0719 barker@telus.net (mailto:barker@telus.net) bmls@shaw.ca (mailto:bmls@shaw.ca) 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. To view this press release as a PDF file, click onto the following link: http://www.fscwire.com/sites/default/files/ne...072014.pdf Source: Barker Minerals Ltd. (TSX Venture:BML) http://www.barkerminerals.com/s/Background.asp Maximum News Dissemination by FSCwire. http://www.fscwire.com Copyright(C)2014 Filing Services Canada Inc.
BML.VN: 0.010 (unch)
Barker Minerals Ltd. Identifies New Mineralization on Trend with the Frank Creek VMS and Gold Project
Filing Services Canada XHTML - Tue Oct 07, 12:28AM CDT
BML.VN: 0.010 (unch)
