Welcome!

Microsoft Cloud Authors: Pat Romanski, Janakiram MSV, Jnan Dash, Andreas Grabner, Lori MacVittie

News Feed Item

Revolution to Acquire a 100% Interest from Lake Shore Gold in Mexican Properties

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/30/13 -- Revolution Resources Corp. (TSX:RV) ("Revolution" or the "Company") is pleased to report that the Company has entered into a purchase and sale agreement (the "New Agreement") with Lake Shore Gold Corp. ("Lake Shore Gold") to acquire 100% of Lake Shore Gold's interests in the Mexico property portfolio, which consists of the Universo property, Montana de Oro, La Bufa and Lluvia de Oro properties totaling over 400,000 hectares in two historic mining regions of Mexico.

Revolution's President and CEO, Aaron Keay, stated: "We believe this arrangement makes sense for both Revolution and Lake Shore Gold. The acquisition of a 100% interest in the property portfolio gives us flexibility to form strategic partnerships with third parties to advance these highly prospective gold and silver regions in Mexico, while significantly decreasing our financial commitments."

Tony Makuch, President and CEO of Lake Shore Gold, commented: "With this transaction, we are positioning these properties with a very strong and experienced group who can accelerate the time from concept to discovery, and unlock value for both Revolution and Lake Shore Gold shareholders."

Under the terms of the New Agreement, Revolution is no longer required to exercise its existing option (see Revolution's news releases dated September 15th, 2011 and July 26th, 2012), and on closing will immediately acquire the subsidiary of Lake Shore Gold that holds 100% of its rights, title and interest in the Mexico properties, subject to certain net smelter return royalties ("NSR"). The consideration payable by Revolution under the New Agreement is:


--  20,000,000 common shares of Revolution, issuable on closing; subject to
    certain sale restrictions as described below. 
--  the grant to Lake Shore Gold of the following royalty interests: 
    --  a 2% NSR on the Universo property; 
    --  a 3.5% NSR on the properties comprising the Montana de Oro project
        forming part of the Montana de Oro property; 
    --  a 2.5% NSR on the properties comprising the La Bufa project forming
        part of the Montana de Oro property; and 
    --  a 2.0% NSR on the properties comprising the Lluvia de Oro project
        forming part of the Montana de Oro property,

Subject in each case to certain rights of Revolution to repurchase a portion of the NSR; and


--  on or before December 31, 2017, CDN$5,000,000 in cash or common shares
    valued at the greater of $0.20 and a five day volume weighted average
    trading price.

In addition to the applicable four-month hold period under Canadian securities laws, Lake Shore Gold has agreed to certain restrictions on the transfer of shares issued to it under the New Agreement for a period of 18 months following the date of issuance. The New Agreement also contains a standstill provision that prohibits Lake Shore Gold from acquiring additional shares and taking certain other actions without Revolution's consent for 18 months following the closing date.

In addition, on closing and through 2014, Lake Shore Gold will have the right to at least two nominees to the board of directors of Revolution and Lake Shore Gold will continue to have rights to appoint one or more nominees depending on its level of ownership for so long as Lake Shore Gold holds at least 5% of the outstanding Revolution shares.

Completion of the transaction is subject to acceptance of the Toronto Stock Exchange, which Revolution anticipates will involve approval of the shareholders of Revolution by ordinary resolution. Assuming no Revolution shares are acquired by Lake Shore Gold or issued prior to closing, the 20,000,000 common shares issuable by Revolution to Lake Shore Gold on closing will result in Lake Shore Gold holding a total of 26,713,740 Revolution shares or 22.7% of the outstanding Revolution shares.

Universo

The Universo property is over 100km long and 35 kilometers wide, and surrounded to the north by Goldcorp's Camino Rojo gold-silver deposit (Canplats Resources, purchased by Goldcorp) and Penasquito gold-silver-lead-zinc mine. To the south lies Grupo Mexico's Charcas zinc-copper mine, the largest zinc producer in Mexico, and to the east, First Majestic's Real de Catorce silver project, in addition to many other prospects and historic mines. In addition, New Gold's Cerro San Pedro gold-silver mine is located 100km further south, and the 370,500 hectare Universo property occurs in the heart of this 300km long trend. Despite the property's strategic location, only limited modern exploration has been performed; the last known drilling being eighteen years ago. To date, Revolution has identified twenty-five surface showings, prospects, and anomalous zones on the highly prospective Universo property.

Montana de Oro

The Montana de Oro property described in the New Agreement includes the Montana de Oro, La Bufa and Lluvia de Oro projects.

Montana de Oro Project

The Montana de Oro project covers 26,516 hectares and is located 25 kilometers south of Coeur D'Alene's Palmarejo mine, 20 kilometers north of Pan American Silver's Alamo Dorado mine, and nearby to several other advanced precious metal projects. Currently, 17 areas of gold mineralization and a carbonate replacement discovery at La Concepcion have been identified on the property. As well, four undrilled copper porphyry style targets with high-grade copper and gold values occur on the property. Historic drill results include: 4.8 meters averaging 9.58 g/t Au and 121.78 g/t Ag with 1.45 meters at 35.6 g/t Au and 93 g/t Ag at the El Rodeo and La Violetta vein target, 3.05 meters averaging 3.1 g/t Au and 108.28 g/t Ag at the Don Pancho vein target, and 4.47 meters averaging 30.3 g/t Ag, 16.5% Zn and 0.97% Cu at La Concepcion.

La Bufa Project

The 18,213 hectare La Bufa project is located 30 km east of Goldcorp's El Sauzal mine, and is centered on the historic Carmen copper-gold mine. The La Bufa property also includes the historic Golondrina and San Fernando mines and five of Revolution's newly identified prospects. Prior to Revolution's 2012 exploration program, only limited work had been performed on the property. Multiple new gold, silver, copper and molybdenum prospects and historic mines were identified on the Property, the majority of which were not drilled. The Property is centered on the historic Carmen Mine, which reportedly produced approximately one million tonnes grading 2.5% Cu, 2.9 g/t Au and 2.8 g/t Ag between 1947 and 1958 from a vein system with vertical development from 1500m to 1100m elevation. These historic production figures are from historic company documents and government records; A Qualified Person(s) have not independently verified these production figures and they should not be relied upon.

Lluvia de Oro Project

Lluvia de Oro is located 30 kilometers east of the Montana de Oro property and situated along the same ENE trend as the La Bufa property. Historic records of the 391 hectare property indicate that between 1898 and 1915, and during the early 1950s, approximately 100,000 tonnes of ore was mined, averaging 95 g/t Au and 865 g/t Ag. Underground samples from the property averaged 4.65 g/t Au and 32.71 g/t Ag, including 45.6 g/t Au over 1.6 meters. The high grade values of gold and silver mineralization at Lluvia de Oro occurs both as broad disseminated zones up to 35 meters in width developed as mantos in silicified limestone and in discrete veins up to 12 meters in width in limestone, dacite porphyry and andesite.

Technical disclosure in this release was prepared by and approved by Robert McLeod, P.Geo., Vice-President of Exploration and Qualified Person for Revolution Resources.

About Revolution

Revolution Resources Corp. is a TSX-listed exploration company (TSX:RV) based in Vancouver, BC, Canada. Well-funded and with no long-term debt, the Company's current exploration activities are focused on gold and silver in the historic belts of Mexico and the USA. Further information can be found on the Company's website at www.revolutionresourcescorp.com.

ON BEHALF OF THE BOARD of Revolution Resources Corp.

Aaron Keay, President, CEO and Director

Forward-Looking Statements: Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws. These statements include, among others, statements with respect to the completion of the transactions contemplated by the New Agreement, the Company's plans for exploration and development of the Mexican properties, potential mineralization and expected share issuances. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such risk factors include, among others, failure to obtain regulatory approvals, failure to complete anticipated transactions, the timing and success of future exploration and development activities, exploration and development risks, title matters, inability to obtain any required third party consents, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices and one-time events. In making the forward-looking statements, the Company has applied several material assumptions including, but not limited to, the assumptions that: (1) the transactions contemplated by the New Agreement will be completed as planned; (2) the proposed exploration and development of mineral projects will proceed as planned; (3) market fundamentals will result in sustained metals and minerals prices and (4) any additional financing needed will be available on reasonable terms. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.

Contacts:
Revolution Resources Corp.
Dylan Berg
Manager, Investor Relations
604-681-5672 direct / 604-616-1182 cell
dylan@revolutionrc.com

Revolution Resources Corp.
Aaron Keay
President, CEO and Director
604-678-4024 direct / 604-323-6911 cell
aaron@revolutionrc.com
www.revolutionresourcescorp.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often un...
SYS-CON Events announced today that Technologic Systems Inc., an embedded systems solutions company, will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Technologic Systems is an embedded systems company with headquarters in Fountain Hills, Arizona. They have been in business for 32 years, helping more than 8,000 OEM customers and building over a hundred COTS products that have never been discontinued. Technologic Systems’ pr...
SYS-CON Events announced today that IoT Now has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.
SYS-CON Events announced today that WineSOFT will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Based in Seoul and Irvine, WineSOFT is an innovative software house focusing on internet infrastructure solutions. The venture started as a bootstrap start-up in 2010 by focusing on making the internet faster and more powerful. WineSOFT’s knowledge is based on the expertise of TCP/IP, VPN, SSL, peer-to-peer, mob...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
The security needs of IoT environments require a strong, proven approach to maintain security, trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vic...
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...
In his session at @ThingsExpo, Sudarshan Krishnamurthi, a Senior Manager, Business Strategy, at Cisco Systems, will discuss how IT and operational technology (OT) work together, as opposed to being in separate siloes as once was traditional. Attendees will learn how to fully leverage the power of IoT in their organization by bringing the two sides together and bridging the communication gap. He will also look at what good leadership must entail in order to accomplish this, and how IT managers ca...
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
SYS-CON Events announced today that Cloud Academy will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform. Cloud Academy provides continuous learning solutions for individuals and enterprise teams for Amazon Web Services, Microsoft Azure, Google Cloud Platform, and the most popular cloud computing technologies. Ge...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
SYS-CON Events announced today that Outlyer, a monitoring service for DevOps and operations teams, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Outlyer is a monitoring service for DevOps and Operations teams running Cloud, SaaS, Microservices and IoT deployments. Designed for today's dynamic environments that need beyond cloud-scale monitoring, we make monitoring effortless so you...
Have you ever noticed how some IT people seem to lead successful, rewarding, and satisfying lives and careers, while others struggle? IT author and speaker Don Crawley uncovered the five principles that successful IT people use to build satisfying lives and careers and he shares them in this fast-paced, thought-provoking webinar. You'll learn the importance of striking a balance with technical skills and people skills, challenge your pre-existing ideas about IT customer service, and gain new in...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
SYS-CON Events announced today that CrowdReviews.com has been named “Media Sponsor” of SYS-CON's 20th International Cloud Expo, which will take place on June 6–8, 2017, at the Javits Center in New York City, NY. CrowdReviews.com is a transparent online platform for determining which products and services are the best based on the opinion of the crowd. The crowd consists of Internet users that have experienced products and services first-hand and have an interest in letting other potential buyers...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, Cloud Expo and @ThingsExpo are two of the most important technology events of the year. Since its launch over eight years ago, Cloud Expo and @ThingsExpo have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, I provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading the...