Rocmec retains a New York based full service financial group to secure financing for the Rocmec 1 Gold Property
Vaudreuil-Dorion (Quebec), January 11th, 2013– Rocmec Mining Inc. (the “Corporation” or “Rocmec”) (TSX-V Symbol: RMI), is pleased to announce that it has entered into an exclusive Engagement Agreement with a full service retail and institutional broke/dealer firm located in New York city, U.S.A. to secure, on a best efforts basis, financing that will enable Rocmec to bring it’s flagship gold property, Rocmec 1 into full production.
The U.S.A financial firm located in New York City was established in 1984, it is a full service boutique brokerage operation offering middle market corporate finance, research, and valuation services. It manages retail accounts with over $2 billion of retail customer assets and has in excess of 250 registered investment advisors in 11 offices. They are a member of FINRA & SIPC.
Rocmec 1 gold property
The Rocmec 1 property is located in the Dasserat Township, Province of Québec on the shores of the Labyrinthe Lake and covers approximately 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 1700 metres (drifts and cross-cut drift) 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. Such 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 1, 2010. The results were prepared with a cut-off grade of 3 g/t, an industry standard, and delineated measured and indicated resources of 119,500 ounces and inferred resources of 359,600 gold ounces.
Subject to the approval of the TSX Venture Exchange, the Corporation also announces that it will issue 284,687 common shares of the Corporation priced at $0.11 per share as quarterly interest payments totaling $31,315.57 on outstanding debentures. Such interest is payable quarterly as approved by the TSX Venture Exchange on May 10th, 2012 and publicly announced by way of a press release. The above-mentioned common shares are subject to a four month hold period.
Management of the Corporation also wishes to inform its shareholders that it has ended its relationship with Shamrock One Capital, LLC (“Shamrock”) pertaining to the Memorandum of Understanding signed and made public on October 24th, 2012, due to failure of Shamrock to perform its obligations under such Memorandum of Understanding. Rocmec reserves the right to pursue all legal avenues at its disposal for the non-performance of Shamrock in this matter.
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.
For additional information:
John Stella, Investor relations (514) 718-7976
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