TORONTO, June 14, 2018 (GLOBE NEWSWIRE) -- Mezzotin Minerals Inc. (“Mezzotin” or the “Company”) (NEX:MEZ.H) announced today that, further to the Company’s press release dated May 9, 2018, its board of directors has received an independent valuation (the “Valuation”) of the Company’s indirectly owned Sabi Star rare earth property located in Eastern Zimbabwe (the “Property”) supporting the purchase price at which the Property is proposed to be sold to a Zimbabwean subsidiary of Hong-Kong based Max Mind Investment Limited.
The independent Valuation of the 30 mineral claim Property was prepared by SRK Consulting Zimbabwe, part of international mining consulting firm, SRK Consulting, and concludes on a value for the Property of US$118,000 +/- US$1,200, slightly lower than the negotiated cash purchase price of US$125,000. The receipt of the Valuation by the board of Mezzotin satisfies is a condition to the completion of the proposed Property sale. An annual and special meeting of shareholders is scheduled for June 25, 2018 in Toronto to consider the proposed Property sale and other matters of annual and special business. The Company has prepared and filed on SEDAR and made available to shareholders a management information circular in connection with the shareholders’ meeting which contains detailed information on the proposed Property sale and readers are urged to review the management information circular for additional information, A copy of the Valuation has also been filed and is available for viewing and download on the Company’s profile on SEDAR (www.sedar.com).
The can be no assurance that the proposed Property sale transaction will be completed as proposed or at all.
About Mezzotin Minerals Inc.
Mezzotin Minerals Inc. is a junior exploration company listed on the NEX Board of the TSX Venture Exchange in Canada. The Company is engaged in the exploration of mineral properties in Zimbabwe and holds exploration permits and mining claims known as the Sabi Star project covering approximately 2,348 hectares which has been optioned to Max Mind Investments (Zimbabwe) (Private) Limited. The project is located in Eastern Zimbabwe approximately 150 kilometres from Harare, the capital of Zimbabwe, and approximately 250 kilometres from the border of South Africa. The project is located on the Odzi Gold Belt, a known mineralization belt having historically produced gold, copper, tin, tantalum, niobium and diamonds.
For additional information please contact:
Lawrence Schreiner
Chief Financial Officer
Mezzotin Minerals Inc.
Tel. 416-496-3077
lschreiner@manbancorp.com
Neither 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.