Noka Enters Into Agreement to Acquire Warnes Lake Property, Athabasca Basin, Northern Saskatchewan
September 6, 2013 – Vancouver, British Columbia. -.Noka Resources Inc. (TSXV: NX) (the ‘Company’ or ‘Noka’) announces that it has entered into a Purchase and Sale Agreement (the “Warnes Lake Agreement") with certain vendors (the “Vendors”) to acquire a 100% interest in the Warnes Lake property (the “Warnes Lake Property"). The Warnes Lake property is located in the Athabasca basin region of Northern Saskatchewan, and consists of two (2) mineral tenures with total area of 8,434.5 hectares.
Transaction Terms
Pursuant to the Warnes Lake Agreement, the Vendors have agreed to sell Noka a 100% interest in the Warnes Lake Property, subject to a two percent (2%) Net Smelter Return Royalty ("NSR"). On the closing date (the “Closing Date”), Noka will issue 250,000 common shares of Noka to the Vendors. Noka will also grant to the Vendors the two percent (2%) NSR. All securities to be issued pursuant to the transaction will be subject to resale restrictions expiring 4 months and one day from their date of issuance.
The Agreement is subject to the acceptance of the TSX Venture Exchange (the "Exchange").
About Noka Resources
Noka Resources Inc. is a junior exploration company with a focus on uranium in the prolific Athabasca Basin, Northern Saskatchewan. Noka’s exploration strategy is focused in relatively underexplored areas of the Athabasca Basin Region, targeting favourable geology and structure amenable to near surface, unconformity-style uranium mineralization.
With a total land position of 488,463 hectares, Noka holds one of the largest geologically prospective land packages in the region through a 100% interest in the Clearwater and Athabasca North group of properties, as well as a 25% interest in the Western Athabasca Syndicate group of properties.
For further information, please contact Nav Dhaliwal, President, at [email protected] or visit www.nokaresources.com.
On behalf of the Board of Directors
NOKA RESOURCES INC.
“Nav Dhaliwal”
Nav Dhaliwal
President and CEO
(604) 678-5308
Neither the 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 release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management 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 the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions.
Please see the public filings of the Company at www.sedar.com for further information.