Yahoo Finance Millstream Corporate Update
TORONTO, ON / ACCESSWIRE / April 21, 2016 / Millstream Mines Ltd. (the "Company" or "MLM") (TSX-V: MLM & Frankfurt: NJD1.F) announces that it has completed a sale agreement concerning its Sudbury Airport Properties located in close proximity to the south eastern rim of the Sudbury Basin Igneous Complex. The agreement stipulates that Millstream will surrender all rights of ownership to the 2 groups of claim blocks known as the Airport and Airport East Properties in exchange for an over-riding 2.5% NSR (net smelter return) royalty. The Company decided to implement this deal on the grounds that it views the Airport Group of Claims as a non-core holding and with the aforementioned deal in place it will now be freed up to focus all of its efforts, time and attention on its Potter and Tamarack assets.
The company is pleased to announce that it welcomes to the board of directors, Mr. Stephen G. Mlot, P. Eng., who brings along with himself experience of 35 years at senior levels of corporate management, mine planning and construction, project management and mine development, and gold production. A result-oriented team leader with proven problem solving and decision making skills, he has an established track record of moving prospective mineral projects from the concept stage, through to the advanced exploration and resource definition stage, onto pre-feasibility, then feasibility and production and then finally to mine closure. He has held posts as President & CEO of Carlisle Goldfields Limited, as President, Director and Chief Operating Officer of Patricia Mines Inc., as President and General Manager of Canadian Mineforce Inc. and as Rehabilitation Engineer with the Ontario Ministry of Northern Development and Mines. Mr. Mlot's board appointment is subject to TSX Venture approval.
The Company also announces that Mr. Marty Martinello is no longer associated with the company for personal reasons.
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 a presently known quantity of eleven (11) copper-zinc-cobalt-gold-silver "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 resource estimate on the Potter, utilizing only seven (7) of the eleven total known mineralized zones, 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 Potter Resource was drawn up by Mr. David Gamble, P.Geo, Qualified Person for the Property. The Tamarack Gold Property is a former past producing, high-grade gold operator found in the Tobacco Root Mountains of Madison County, Montana. The Property is presently permitted to operate as a gold mine under the Small Mines Exclusion Act of Montana. It is accessible year round, 4 miles from the town of Sheridan, on a well maintained gravel road.
For a more thorough synopsis on the Company please visit the following link: http://www.millstreammines.com/Millstream_brochure.pdf
The 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.
For further information contact:
Mr. Ernest Harrison, EM, Chairman and CEO Phone: 705-474-7282
Mr. Robert Chase, CFA, President and CFO Phone:416-368-9595
Email: info@millstreammines.com Web: www.millstreammines.com
SOURCE: Millstream Mines Ltd.
