TORONTO, ONTARIO -- (Marketwire) -- 01/22/13 -- Pitchblack Resources Ltd. (TSX VENTURE: PIT) is seeking expressions of interest for the potential joint venture or acquisition of its Division Mountain Coal Project, located in the Yukon Territory, Canada.
The Project consists of a high-quality bituminous coal deposit with low sulphur content, with a NI 43-101-compliant mineral resource estimate of approximately 52 million tonnes located in Yukon, Canada (see the technical report entitled "Technical report on Coal Resources and Reserves of the Division Mountain Property, Yukon Territory, Canada" by T.C. Becker, B.Sc., P.Geo, and G.M. Stubblefield, P.E dated October 10, 2008. The Project, accessible by road and in close proximity to Yukon's electrical grid system, offers the potential to serve the territory's energy needs through a mine-mouth power generation project using clean coal technologies.
Potential development is facilitated with existing leases, including current exploration licences covering approximately 560,000 acres in a region with known coal occurrences in an extensive and under explored basin with identified potential for significant reserve expansion.
Interested parties can access an overview of the Project at www.minesonline.com and can register their interest online. MinesOnline is a leading global broker for mining projects, which uses a web-based platform to connect buyers and sellers. It is jointly owned by Perth-based PCF Capital Group and TMX Group, owner and operator of Toronto Stock Exchange and TSX Venture Exchange.
Kevin Brewer (MBA, B.Sc (Hons), P.Geo), a registered professional geoscientist with APEGBC and APEGNL, is a "qualified person" as such term is defined by National Instrument 43-101 and he has reviewed the technical and scientific information contained in this press release.
About Pitchblack Resources Ltd.
Pitchblack has uranium, coal and gold assets in the Yukon Territory, Canada. The Company continues to seek new business opportunities that would be to the benefit of the Company and its shareholders, including the proposed acquisition of certain precious metal enriched base metal assets from Crocodile Gold Corp. located in Australia. The Company continues its strategic review of all of its Canadian mineral properties in order to maximize shareholder value. In parallel, the Company is continuing the process of attempting to vend or joint venturing some of its properties.
FORWARD LOOKING INFORMATION CAUTION
This document may contain or refer to forward looking information within the meaning of applicable securities laws, based on current expectations, including, but not limited to the project, future exploration expenses and plans. Forward looking information is subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking information. Forward looking information isprovided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances.
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Pitchblack Resources Ltd.
President & CEO
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