• TSX-V:ECR 0.11 (-0.01)
  • Volume 97643

Press releases

December 1, 2011

Cartier Signs a Sale Agreement in Respect of its Rivière Doré Copper-Nickel Project

Val-d’Or, Quebec, December 1, 2011 – Cartier Resources Inc (TSX-V: ECR) (“Cartier”)  announces that it has signed a sale agreement (the “Sale Agreement”) with Copper One Inc. (“Copper One”) in respect of the acquisition of a 100% interest in the Rivière Doré copper-nickel project (the “Project”) located near the town of Val-d’Or, Quebec.

Under the terms of the Sale Agreement, Copper One will acquire a 100% interest in the Project by paying to Cartier an amount of $150,000 in cash, issuing to Cartier 2,000,000 common shares and granting to Cartier a royalty of 1% of the net smelter return in connection with ore extracted from the Project. Copper One has also agreed to pay to Cartier in cash in three equal installments over the 18-month period following the commencement of commercial production on the Project an amount equal to 2% of the net present value calculated in a bankable feasibility study in respect of the Project and prepared by a recognized firm of independent engineering consultants at the direction of Copper One. The Sale Agreement is subject to approval of the TSX Venture Exchange.

Upon the closing of the transaction under the Sale Agreement, the option and joint venture agreement entered into between Copper One and Cartier in respect of the Project, and announced in a press release issued by Cartier on January 18, 2011, will terminate.

About Cartier Resources Inc.

Cartier is an exploration company focused on precious and base metals and currently holds significant land holdings in the prolific Abitibi Gold Belt in Quebec. The company’s portfolio of properties consists of wholly-owned projects which are managed by a team of geologists who have a proven track record of making significant discoveries.


For further information please contact:
Philippe Cloutier
President and CEO
Cartier Resources Inc.
Telephone: 819 874-1331
Fax: 819 874-3113

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.