April 11, 2014
Cartier Purchases a 1% NSR on the Benoist Property
Val-d’Or, April 11, 2014 – Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) is pleased to announce that it has entered into an agreement to acquire a 1% net smelter return (NSR) royalty from Murgor Resources Inc. (TSXV: MGR) (“Murgor”) on the Benoist property (the “Royalty”).
On March 24, 2014, Cartier received a notice setting out the material terms and conditions of a proposed sale by Murgor to a third party of the Royalty in an all-share transaction for a value of $75,000.
Cartier has notified Murgor that it was exercising its first refusal right in respect of the Royalty in an all-share transaction for a value of CDN $75,000.00.
An aggregate of 500,000 common shares of Cartier will be issued to Murgor at a price of $0.15 per share ($75,000).
Closing of the Acquisition is expected to occur on April 14, 2014 and is subject to the execution of a definitive agreement and the approval of the TSX Venture Exchange Inc.
The Benoist property is 65 km northeast of the town of Lebel-sur-Quévillon, 25 km south-east of the Bachelor mine and 25 km north-west of the Langlois mine.
The company’s objective is to develop and maintain a balanced portfolio of mining projects ranging from exploration to resource definition, development and production. Its VISION is to develop the company’s current and future assets into mineral production within a timeframe that is consistent with its human and financial resources while respecting sustainable development practices.
For more information, please contact:
President and CEO
Cartier Resources Inc.
Telephone: 819 856-0512
Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.