Vancouver, B.C. – ACADEMY VENTURES INC. (“Academy” or the “Company”)
Academy Ventures (ACV: TSX-V) is pleased to announce that on April 02, 2008 the Company will commence drilling on Doctor’s Point Gold project in British Columbia, Canada.
The Company plans to execute approximately a 3,000 feet drilling program as described in its final prospectus dated November 13, 2007 for the Company`s Initial Public Offering (IPO). Diamond drilling will be conducted to test existing gold targets in the properties. A total of 11 holes should be allocated to test the three outlined targets with adjustments to be made during the program based on geological interpretations and analytical results. The Doctors’ Point Gold Project consists of nine mineral claims having a total area of 3,725 hectares located in the New Westminster Mining Division, British Columbia (“the Property”).
In July 2006, Academy signed an Option Agreement to acquire a 100% undivided interest in the Property, subject to a 2% NSR royalty from Johan T. Shearer, M.Sc., P.Geo., (the “Optionor”) in consideration for (a) $7,500 (which has been paid); (b) a further $10,000 and Exploration Expenditures of $100,000 before July 6, 2007 (which has been paid and expended); and (c) a further $20,000 and Exploration Expenditures of a further $200,000 on or before July 6, 2008 (current exploration program). The Company shall have the option to purchase the net smelter return royalty for a purchase price of $1,000,000.
The geological information reported herein is approved by Egil Livgard, P. Geo., a qualified person and Director of Academy Ventures Inc.
This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the corporations control which may cause actual results, performance or achievements of the corporation’s to be materially different from the results, performance or expectation implied by these forward looking statements.
This release has been prepared by management – TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
