Rocmec signs a letter of intent for $31,5M USD
Vaudreuil-Dorion (Quebec), April 9, 2013 – Rocmec Mining Inc. (the “Corporation” or “Rocmec”) announces that subsequent to the press release published on January 11, 2013, a U.S. private equity firm has confirmed its interest in investing up to $31.5 million USD in the form of a conventional loan to start gold production on the Rocmec 1 property. A letter of intent has been signed and closing is expected to take place upon completion of a successful due diligence. Management is pleased with their interest to move forward, clearly demonstrating their appreciation of the value and quality of the property.
The Rocmec 1 gold property is located in the Dasserat Township, Province of Québec on the shores of Lake Labyrinth and covers approximately 2,171 hectares. It is approximately 35.4 kilometres west of the town of Rouyn-Noranda and is easily accessible. The property is at an advanced stage of development and 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 1,700 metres (drifts and cross-cut drift) were driven. Rocmec has conducted several diamond drill campaigns on the Rocmec 1 property over the past few 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 entitled “Technical Report, Resource Update, Rocmec 1 Mineral Deposit, Abitibi West, Quebec, Canada for Rocmec Mining Inc.”, is dated May 25th, 2010 and is available on the Rocmec Mining website (www.rocmec.com). The report estimated close to 480,000 ounces of gold resources including 119,500 ounces in the Measured and Indicated category and 359,600 ounces in the Inferred category using the industry standard of a cut-off grade of 3 g/t.
Rocmec is active in the exploration and the development of gold resources in Quebec and Peru. The Corporation owns a gold property with resources recognised in accordance with NI43-101, a modular treatment plant and an exclusive license for a thermal fragmentation mining method for exploiting narrow-vein ore deposits.
The company’s growth strategy is:
• To develop its wholly-owned gold deposits and produce revenue;
• To increase the value of its mining assets by prioritizing exploration targets; and
• To commercialize its thermal fragmentation technology.
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This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Rocmec’s disclosure documents on the SEDAR website at www.sedar.com. Rocmec does not undertake to update any forward looking information except in accordance with applicable securities laws.
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