Vior Increases Its Land Position Around the Beauchastel Property, Rouyn-Noranda Area, Quebec
Vior completes a private placement with qualified investors
QUEBEC, CANADA, Dec. 17, 2010 (Marketwire) -- SOCIETE D'EXPLORATION MINIERE VIOR INC. (TSX VENTURE:VIO)(FRANKFURT:VL5) wishes to announce the acquisition of a block of 12 claims covering approximately 530 hectares, adjacent to the western boundary of the Company's 100%-owned Beauchastel property, located 20 kilometres northwest of Rouyn-Noranda, Quebec.
The new block of claims covers the interpreted lateral southwestern extension of the northeast-trending Quesabe Fault where the gold mineralization at Beauchastel appears to be associated. The Company is currently conducting a diamond drilling program on Beauchastel to follow up on gold intercepts encountered in 1998 on the "D" Zone during a 3-short-hole program. At that time, the Company cut in hole BC 98-02 an intercept of 1.08 g/T gold over 19.5 metres, including 4.38 g/T gold over 3 metres, and another intercept of 6.72 g/T gold over 3 metres. Hole BC 98-03, located 75 metres to the west, has cut an intercept of 0.91 g/T gold over 19.5 metres, including 1.44 g/T gold over 9 metres (press release of November 24, 2010). Furthermore, a recent till sampling program on Beauchastel, yielded visual counts of gold grains as high as 1,032 individual grains in a 15-kg samples (press release of December 9, 2010).
The 12-claim block (formerly known as the Bourniol property) was 100% acquired from Adventure Gold Inc. (TSX-V: AGE) against a cash payment of $7,500. Adventure Gold will retain a 2.0% NSR, half of which (1.0%) can be bought back for $1,000,000.
This technical part was prepared and reviewed by Mr. Marc L'Heureux who is the Company's Qualified Person under National Instrument 43-101.
Closing of a $150,000 private placement
Vior is pleased to announce the completion of a private placement totalling $150,000 with qualified investors. The private placement was completed by issuing 681,818 flow-through shares of Vior at a price of $0.22 per share.
In connection with the private placement, Vior paid a finder's fee of $9,000 and the securities issued are subject to a four-month holding period expiring on April 17, 2011.
Proceeds from the financing will be used for exploration work on the Company's properties in Quebec.
