Toronto, Ontario – November 8, 2011 – PJX Resources Inc. (“PJX”) is pleased to announce it has increased its land holdings from 27,900 hectares to over 40,700 hectares, a 45% increase, at its gold properties near Cranbrook, British Columbia, Canada. The new claims are contiguous with favourable geology hosting gold mineralization on the properties.
The properties are all road accessible and located within a 40 kilometre radius of Cranbrook and Kimberley, British Columbia. The Dewdney Trail Property is of the greatest interest to the Company at this time. The expanded Dewdney Trail Property covers historical gold showings that are on strike with large target areas that could host large tonnage Sediment-Hosted-Vein gold deposits.
Three of the over 20 target areas on the Dewdney Trail property have been the focus of recent trenching and drilling programs. Please refer to the PJX’s web site www.pjxresources.com for additional information about the property potential.
On September 14, 2010, PJX entered into an option agreement with SG Spirit Gold Inc. (formerly Ruby Red Resources) to earn up to an 80% interest in four separate gold exploration properties: the Dewdney Trail Gold property, the Eddy Gold property, the Zinger Gold property and the Vine property.
PJX has optioned the additional claims from SG Spirit Gold Inc. The new claims have been added as an amendment to the existing option agreement between the two companies with no change in the terms or conditions of the original agreement.
The foregoing geological disclosure has been reviewed by Mr. John Keating, P. Geo (a qualified person for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects). Mr. Keating is the President, CEO and a director of PJX.
More information will be announced about PJX’s exploration activities and other properties in the coming weeks. Please refer to our web site http://www.pjxresources.com for additional information.
The Company’s board of directors has authorized granting stock purchase options to certain directors, employees and consultants to acquire an aggregate of 2,233,500 common shares at an exercise price of $0.30 expiring November 3, 2016. The foregoing is subject to regulatory acceptance.
About PJX Resources Inc.
PJX is a mineral exploration company focused on building shareholder value and community opportunity through the exploration and development of mineral resources with a focus on gold. PJX’s primary properties are located in the historical mining area of Cranbrook and Kimberley, British Columbia.
FOR FURTHER INFORMATION PLEASE CONTACT:
Chief Financial Officer
This News Release contains forward-looking statements. Forward looking statements are statements which relate to future events. Forward-looking statements include, but are not limited to, statements with respect to exploration results, the success of exploration activities, mine development prospects, completion of economic assessments, and future gold production. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expects”, “plans”, “anticipates”, believes”, “estimates”, “predicts”, “potential”, or “continue” or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our actual results, level of activity, performance or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by these forward-looking-statements.
Although PJX has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
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.