Rocmec advances its 2012 surface exploration programme on the Rocmec 1 gold property
Vaudreuil-Dorion (Quebec), November 22nd, 2012– Rocmec Mining inc. (the “Corporation” or “Rocmec”) (TSX-V Symbol: RMI), announces that preliminary surface exploration work is currently underway at its Rocmec 1 gold property. The work includes line cutting, geophysical readings and sampling all targeted towards the Boucher structure, results of which will enable management to identify specific areas to conduct a diamond drill campaign with emphasis on the Boucher structure at depth. The data derived will serve to update the company’s N143-101 report. For additional information on the Boucher structure, see press release dated October 18th, 2011.
The Rocmec 1 property is located in the Dasserat Township, Province of Québec on the shores of the Labyrinthe Lake and covers 2171 hectares. It is approximately 35.4 kilometres west of the town of Rouyn-Noranda and is easily accessible from Route 117 and the frontier gravel road separating Québec and Ontario and a secondary gravel road to the site. The property includes a 100 metres deep two compartment shaft and a 844 metres decline allowing access to five levels (50, 70, 90,110 and 130 metres). On these levels a total of 1. 7 kilometers of drifts and cross-cut drifts were driven. Rocmec conducted several diamond drill campaigns on the Rocmec 1 property over the past years. All of the diamond drill campaigns were designed and carried out following the reasoning of “drill for structure and drift for grade”. A NI 43-101 compliant technical report was prepared in connection with the Rocmec 1 property by Système Géostat International Inc. The technical report, which is entitled “Technical Report, Resource Update, Rocmec 1 Mineral Deposit, Abitibi West, Québec, Canada for Rocmec Mining Inc.”, is dated May 25, 2010 and was filed by the Corporation on the SEDAR database on June 1st, 2010.
Rocmec also announces that with regards to the MOU signed by Rocmec and Shamrock Capital One (“Shamrock”) made public by way of a press release dated October 24th, 2012 pertaining to a joint-venture partnership agreement between the parties on the Rocmec 1 gold property, Rocmec announces that due to unforeseen circumstances caused by the Superstorm Sandy it has granted to Shamrock an extension ending December 5th, 2012 to proceed with the closing of the transaction. However, considering that the MOU signed between the parties is non-exclusive, Rocmec reserves the right to negotiate with third parties that have demonstrated a definite interest in joining forces with Rocmec to unlock the full potential of the Rocmec 1 gold property.
Rocmec is active in the exploration and the development of gold resources in Quebec and Peru. The Corporation holds a gold property with resources recognised in accordance with NI43-101, a modular treatment plant and also an exclusive license for the thermal fragmentation mining method for exploiting narrow-vein ore deposits.
The company’s growth strategy is based on:
• The development of its gold deposits with the objective of producing revenue from its operations;
• Increasing the value of its mining assets by prioritizing the exploration targets; and
• The commercialisation and employment of its thermal fragmentation technology.
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Neither 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. This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration and production activities and events or developments that the Corporation expects, are forward looking statements. Although the Corporation believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
Corporation Minière ROCMEC Mining Inc. 162 Saint-Charles Avenue, Vaudreuil-Dorion (Quebec) J7V 2L1
Tel: (450) 510-4442 Fax: (450) 510-9901 www.rocmec.com