Welcome To The Blue Note Mining HUB On AGORACOM

Blue Note Mining is a Canadian mineral exploration and mining company headquartered in Montreal. The company's shares trade on the TSX Venture Exchange under the symbol BNT.

Free
Message: X-Ore shareholders approve amalgamation of X-Ore with Blue Note Mining

X-Ore shareholders approve amalgamation of X-Ore with Blue Note Mining

posted on Jan 15, 2010 01:51PM

X-Ore Shareholders Approve the Amalgamation of X-Ore with Blue Note Mining

	    MONTREAL, Jan. 15 /CNW Telbec/ - Blue Note Mining Inc. ("Blue Note")
(BNT:TSXV) and X-Ore Resources Inc. ("X-Ore") (XOR:TSXV) jointly announce that
X-Ore shareholders have voted overwhelmingly in favour of the amalgamation of
X-Ore and 9216-4706 Québec Inc., a wholly-owned subsidiary of Blue Note at a
Special Meeting of Shareholders held today. A total of 99.93% of the
registered votes was in favour of the transaction.
	    "Upon completion of the transaction, Blue Note will have a debt free
balance sheet, positive working capital, a highly experienced management team
and a diversified property portfolio including a 50% interest in the Croinor
gold deposit," said Michael Judson, Blue Note's President and CEO. "Blue
Note's immediate attention will be to raise the capital required to restart
mining operations at Croinor in 2010."
	    The transaction is subject to certain customary conditions, including the
approval of the TSX Venture Exchange.

	    About Blue Note Mining Inc.

	    Blue Note Mining is a mineral exploration and mining company
headquartered in Montreal. The company's shares trade on the TSX Venture
Exchange under the symbol BNT.

	    About X-Ore Resources Inc.

	    X-Ore Resources is a mineral exploration company with 16 properties
located in known gold regions of Mexico and Canada, including the prolific
Sierra Madre Gold Belt and the Val-d'Or region of Quebec.

	    Forward-Looking Statements

	    Forward-looking statements included or incorporated by reference in this
document include statements with respect to (i) Blue Note's potential
acquisition of X-Ore's outstanding securities; (ii) Blue Note's assets,
financial position, management team, production targets and business plans
following the Offer; and (iii) the benefits to the shareholders of X-Ore and
Blue Note that will result from the Offer. Although Blue Note and X-Ore
believe the expectations reflected in these forward-looking statements are
based on reasonable assumptions, they can give no assurances that these
expectations will be achieved. Factors that could cause actual results to
differ materially from expectations include the effects of general economic
conditions, the price of metals, actions by government or regulatory
authorities, uncertainties associated with contract negotiations, additional
financing requirements, market acceptance of the products of Blue Note or
X-Ore and competitive pressures. These factors and others are more fully
discussed in the filings with Canadian securities regulatory authorities of
Blue Note and X-Ore, including X-Ore's circular dated December 10, 2009.

	    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.





-30-
	    /For further information: Glenn Massad, Vice President, Investor
Relations, Blue Note Mining Inc., (800) 937-3095 x230,
[email protected], www.bluenotemining.ca; Léon Méthot, President &
CEO, X-Ore Resources Inc., (819) 824-5422, [email protected], www.x-ore.com;
Paul Goulet, Investor Relations, (514) 710-8290, [email protected]/

BLUE NOTE MINING INC.

Share
New Message
Please login to post a reply