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Everton is granted the Corozal concession in the Dominican Republic to complete 60 square kilometre nickel laterite land package
Ottawa June 8th 2005. Everton Resources (TSXV-EVR) and GlobeStar Mining Corporation (TSXV-GMI) are pleased to announce today that the Director General of Mining in the Dominican Republic has advised them that they have been granted the 18 square kilometre Corozal nickel laterite concession. The project is held in a 50%-50% joint venture between the companies, as is the recently granted 42 square kilometre Cercadillo nickel concession (see release of Jan 20th 2005). GlobeStar is the operator for the joint venture.
Everton and GlobeStar's nickel land position is only exceeded in size in the Dominican Republic by Falconbridge's Falcondo nickel mine, which is 5 km away from the Corozal concession. The Falcondo operation produces ferro-nickel for export, and consists of a smelter complex, power station and oil refinery. It has been in operation since 1972.
Nickel laterite occurrences are found overlying peridotite rocks between the surface and 30 metres in depth. Mineral exploration will be carried out systematically using pits and shallow drilling.
Permitting and access is being arranged at Cercadillo and the process will now begin at Corozal. Drilling will commence as soon as access is secured, and when a suitable rig becomes available. In other news, Everton has decided not to continue its option on the Bayaguana group of concessions. Based on the results obtained over the last two years from trenching, drilling and metallurgical testing, these concessions are no longer meeting Everton's corporate objectives. Marc L'Heureux, P.Geo., Vice President Exploration of Everton, act as the "Qualified Person" for the Corozal and Cercadillo projects as required by the NI 43-101.
The TSX Venture Exchange neither approves nor disapproves of the information contained in this News Release. The Company's Shares are listed on the TSX Venture Exchange and trade under the symbol "EVR".
André Audet
Tel: 613 241 2332 Fax: 613 241 6005
mailto: [email protected]
www.evertonresources.com
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