TORONTO, ONTARIO -- (Marketwired) -- 06/27/13 -- White Pine Resources Inc. (TSX VENTURE: WPR) ("White Pine") is pleased to announce that it has reached an agreement to extend the terms of its option agreements pursuant to which it may earn a 100% interest in each of the properties known as the Money and Tender properties (the "Yukon Properties"), located in the White Gold District, Yukon, subject to a 2% net smelter returns royalty (the "NSR") on each of the Yukon Properties.
The original terms of the agreement were announced in a press release dated February 14, 2011, and the amended terms were announced in a press release dated March 5, 2012. As previously announced, White Pine had determined to allow its options on the Yukon Properties to lapse (see press release dated February 11, 2013), however, pursuant to the terms of the new agreements, due dates for each of the remaining cash payments, share issuances and exploration expenditure obligations have been extended by one year in return for a one-time cash payment of $10,000.
The amended agreements for the Yukon Properties remain subject to the final approval of the TSX Venture Exchange.
About White Pine Resources Inc.
White Pine is a Canadian based mineral exploration company primarily focused on the acquisition, exploration and development of mineral deposits in Canada.
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.
Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of White Pine, including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results, currency fluctuations, dependence upon regulatory approvals, the availability of financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
Shares Outstanding: 33,966,533
White Pine Resources Inc.
President and CEO
(416) 628-5911 (FAX)
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