VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 17, 2012) - Rokmaster Resources Corp. (TSX VENTURE:RKR) ("Rokmaster" or the "Company") has entered into an Option Agreement ("Agreement") with John and Robert Denny whereby Rokmaster may earn a 100% interest in certain mineral claims covering 11,044 hectares, more particularly known as the Big Copper Property (the "Property"), located in the Fort Steele and Slocan Mining Divisions, southeastern British Columbia.
Under the terms of the Agreement, Rokmaster may exercise the option by making payments totaling $110,000 cash and 200,000 common shares of Rokmaster in four installments. The Property is subject to a 2.0% Net Smelter Return "NSR" royalty. Rokmaster also has the option to reduce the NSR to 1.0% by paying $500,000. On Commercial Production an additional 100,000 common shares in the capital of Rokmaster shall be paid. The Agreement is subject to regulatory approval. The shares will be subject to a statutory four-month hold period under Canadian securities requirements.
About the Property
The Property is located 45 kms by road west of Kimberly, B.C. and is underlain by quartz sericite schists, limestones and quartzites on the western limb of the Purcell anticlinorium. The most favourable historic diamond drill hole result by Cominco Ltd. in 1966 was reported as assaying 3.30% copper over a 14.5 foot core interval from 4.5 to 19.0 feet, included in a 97.5 foot interval assaying 1.40% copper.** Claims held and operated by Eagle Plains Resources Ltd and Teck Resources Ltd. adjoin the Property on the north, west and east.
**(These results have not been confirmed and are of historical context only and as such are not in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects.)
The Company further announces that in conjunction with and to accommodate the appointment of Messrs. Larry Okada and Feisal Somji to the Company's Board of Directors, Mr. Ernie Peters has agreed to step down from the Board of Directors and has been appointed as an Advisor to the Board.
Antonio M. de Quadros, Ph.D., P.Eng., a consulting geologist and Director of the Company is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, and has reviewed and approved the technical disclosure of this news release.
On behalf of the Board of Directors of ROKMASTER RESOURCES CORP.
John Mirko, President & Chief Executive Officer
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Rokmaster cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Rokmaster's control. Such factors include, among other things: risks and uncertainties relating to Rokmaster's ability to implement and complete exploration programs and Rokmaster's limited operating history and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Rokmaster undertakes no obligation to publicly update or revise forward-looking information.
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.
Contact Information:
John Mirko
President and Chief Executive Officer
604-632-9602
604-689-0288 (FAX)