Millstream Mines Ltd.-Clarification of Nirek Resources and Guardians of Gold Joint Press Release RE: Silver Dragon Resources
March 22, 2010 at 14:11 PM EDT
TORONTO, ONTARIO--(Marketwire - March 22, 2010) - Millstream Mines Ltd. (TSX VENTURE:MLM)(FRANKFURT:NJD) would like to add further clarification to the joint press release transmitted earlier today by Nirek Resources Inc. and Guardians of Gold Inc. Millstream Mines Ltd. company has no participation nor any involvement in such reported transactions. The Millstream Mines Ltd. stock, which is part of the proposed bid for 20% of Silver Dragon, is stock which was acquired in a previous transaction between Millstream and Nirek whereby Nirek received 160,000 common shares of Millstream by way of a flow-through private placement for $160,000 (see MLM PR dated Dec.11, 2008). This transaction closed Dec.31, 2008 and the accompanying shares carried a 12 month hold period.
About Millstream Mines Ltd.:
Millstream Mines Ltd. is a Canadian-based mineral exploration company whose principle objective is to enhance and develop known mineral properties to production potential. The Company has projects in the Province of Ontario, Canada and in the State of Montana, USA. The past producing Potter Mine Property is host to copper-zinc-cobalt "stacked" mineralized zones located in the highly prolific Abitibi Greenstone Belt and more specifically in the Kidd-Munro Assemblage near the town of Matheson in north eastern Ontario. An initial NI 43-101 compliant resource estimate on the Potter revealed an indicated resource of 3,028,767 tonnes at 1.45% copper, 1.19% zinc, 389.7 ppm cobalt, 11.1 ppm silver, and 127.5 ppb gold along with an inferred resource of 2,071,101 tonnes at 1.08 % copper, 1.05 % zinc, 301.4 ppm cobalt, 8.7 ppm silver, and 81.7 ppb gold. The Tamarack Gold Property, a high grade former gold producer in the Tobacco Root Mountains of south western Montana, is in an advanced stage of underground exploration and development operating under the Small Mines Exclusion Act of the State of Montana.
73,851,707 SHARES ISSUED
Mar. 19, 2010 Close: $0.055The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Millstream seeks safe harbour with regard to forward looking statements.