First Belmont, now Oxford is jumping on the VGD bandwagon.

Oxford Resources buys project 168

2015-03-17 07:01 ET - News Release

Mr. Mitch Adam reports

OXFORD ACQUIRES PROJECT 168 BORDERING VISIBLE GOLD'S PROJECT 167

Oxford Resources Inc. has entered into a purchase and sale agreement with an arm's-length vendor to acquire 100 per cent of project 168, contiguous to and bordering Visible Gold Mines' project 167 near Chibougamau, Que., that recently announced the new discovery of sulphide mineralization in six drill holes (Feb. 25, 2015). Diamond drilling is still under way at VGD's project 167 and assays are expected to be announced shortly. Oxford is now planning a 2015 exploration program to test priority targets on its project 168.

Oxford is in the process of compiling data from the Quebec on-line geological database to compile historic data on project 168. The GESTIM on-line system shows the same bedrock geology as the adjacent Visible Gold project 167 where a winter drill program is still under way. Visible Gold announced on Jan. 13, 2015, "Hundreds of discrete electromagnetic conductors have been outlined and combined to generate 41 high-priority drilling targets along the new 167 road." Oxford's 2015 exploration program will focus on identifying electromagnetic conductors and drill targets on its neighbouring project 168.

Mitch Adam, president and director of Oxford Resources, states: "Recent diamond drilling results from the neighbouring property 167 are extremely encouraging and Oxford is eagerly awaiting the announcement of assay results by Visible Gold Mines. Oxford's 2015 exploration program is now being developed to test priority targets on the newly acquired property 168, using historic government geological data combined with initial reconnaissance information."

Subject to TSX Venture Exchange approval, Oxford will acquire 100 per cent of the Quebec ground known as project 168 for 2.5 million shares of Oxford on signing subject to exchange approval. Oxford is discussing acquisition of possible additional ground in the area of VGD or adjacent to VGD.

About project 168

Oxford's 100-per-cent-owned project 168 is located approximately 320 kilometres north of Chibougamau city in the James Bay region in the heart of Plan Nord territory. The Plan Nord project was launched to develop Quebec's north, including the construction of a 243-kilometre-long all-season road that links Stornoway's Renard diamond project to the provincial highway network.

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