« Back | Main | Printer-Friendly Version
November 27, 2003
AntOro Completes The Acquistion of 2,816,000 Shares of Big Red Diamond Corporation involved in North Ontario Diamond Exploration Venture
Montreal, November 27, 2003 - AntOro Resources Inc. announces that it has completed the acquisition of 2,816,000 shares of Big Red Diamond Corporation (“BRDC”). Antoro acquired the shares (representing at that time 36.4% of BDRC’s share capital) from Moose Mining Group in exchange for issuing 1,350,000 common shares of Antoro.
Further Antoro must fund $500,000 of Canadian Exploration Expenses on BRDC's properties against which it can acquire a 30.1% interest in these properties.
BDRC is the 20% partner in a Joint Venture with Kel-Ex Ventures Inc.. The JV was formed for diamond exploration in the Attawapiskat Region of Northern Ontario and currently controls over 10,000 square kilometres in the vicinity of De Beers’ large Victor kimberlite pipe. BDRC also owns five (5) other diamond exploration properties in Northern Ontario, in addition to strategic gravel and gypsum deposits.
Kel-Ex has optioned its portion of the JV to Metalex Ventures Ltd. (TSXV: “MTX.T”) and Arctic Star Diamond Corp. (TSXV: “ADD”). Kel-Ex and Metalex are companies directed by Charles Fipke. Mr. Fipke is the geologist for large diamond discoveries in Canada’s Northwest Territories, namely the Ekati diamond mine.
BDRC, in partnership with Kel-Ex and indirectly with Metalex and Artic Star, is exploring for kimberlite deposits, similar to the Victor pipe, within the properties currently held.
Posted by Webmaster | Filed as Press Release
Related Documents
• AntOro Acquires A Mining Property in Quebec - Nov 12, 2003• AntOro Closes Three Private Placements for $737,640 - Dec 31, 2002
• AntOro Acquires Two Mining Properties in Ontario - Dec 31, 2002
• AntOro Closes One Private Placement for $253,800 and The Acquistion of a Mining Property in Ontario - Dec 20, 2002
• AntOro Begins Phase II of The Exploration Campaign - Oct 16, 2002
• AntOro Receives $428,925 in Private Placements - Jul 10, 2002
