News Releases
August 04, 2005Lysander Acquires New Lands in North Central B.C.
Donald K. Mustard, P.Eng, President of Lysander Minerals Corporation ("Lysander") is pleased to announce the acquisition by staking of the Bragg 1-12 and the Fox 1-17 claims, totalling 11,865 hectares. These new claims join Lysander's 100% Osilinka Project to its 100% Pinchi Project in North Central B.C., approximately 300 kilometres northwest of Prince George.
These claims were acquired as a result of a recent massive staking rush on the Hogen Batholith and adjacent Takla volcanic and sedimentary formation, northwest of the Mt. Milligan deposit.
The claims were staked on the recommendation of Dr. Peter E. Fox, P.Eng., who carried out a reconnaissance of the Osilinka River valley west of Lysander's Osilinka Project using new forestry roads. New rock exposures include the classic group defined by Dr. Jack Garnett as "migmatite syenite", which is characterised by intense alkalic alteration. These rocks are generally associated with major structures. In this case the structures are the Pinchi, West, Central and Ha Ha faults, which are considered the locus of copper and gold mineralization as exemplified at the Jajay Project to the southeast.
Eastfield Resources Ltd., as manager, has announced commencement of an approved program of exploration at the Jajay Project. Teck Cominco Limited is expending $1.5 million in 2005 as part of a financing and earning agreement previously announced by Lysander. Teck Cominco has the right to earn a 51% interest in the project by spending $9,000,000 over six years. It may earn a further 9% interest by funding and completing a feasibility study. Upon a positive production decision, Teck Cominco can earn a further 5% interest by arranging or providing financing on behalf of Lysander and Eastfield. Lysander and Eastfield will share equally in the remaining interest.
On behalf of the Board,
Donald K. Mustard, P.Eng.
President and CEO
For further information please contact Larry Myles, Shareholder Communications at 604-408-7600 and visit the Company's website at www.lysandercorp.com.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.
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