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Richmond Finalizes Sale of Austrian Claims to Stella Investment

TORONTO--(BUSINESS WIRE)--Richmond Minerals Inc. (TSXV: RMD) (“Richmond” or the “Company”) is pleased to announce that an agreement between Stella Investments Limited and Richmond has been finalized. 2743718 Ontario Inc. (Ontario), a subsidiary of Richmond Minerals Inc. has sold, and Stella Investments Limited Ras Al Khadijah, United Arab Emirates has acquired, 100% of the rights, title, and interest in the Schellgaden and Kreuzeck-Goldeck areas, Leogang East and West properties and the Brixlegg Property. A total of 631 licenses has been sold. Pursuant to the sale, Stella Investments Limited has issued to Richmond $25,000 in cash (USD).

To complete the companies withdrawal from Austria the license areas of Seekar (2 Freischürfe), Zinkwand (9 Freischürfe), Oberzeiring (99 Freischürfe) and the „Graphite Group“ licenses of Fürholz, Hengstberg, Mühldorf, Wurschenaigen, St. Marein, Ranzels, Zettlitz, and Rabesreith (219 Freischürfe) have been returned.

On behalf of Richmond Minerals Inc.
Franz Kozich,
CEO

About Richmond Minerals
Richmond Minerals Inc. is a mineral exploration company listed on the Toronto Venture Stock Exchange (TSXV: RMD) which has been actively engaged since the early 1980’s in exploration projects located in Ontario and Austria.

CAUTIONARY STATEMENT: This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, Richmond’s objectives, goals or future plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in general economic conditions and conditions in the financial markets; the ability of Richmond to raise funds; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; and those risks set out in Richmond’s public documents filed on SEDAR. Although Richmond believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Richmond disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Contacts

David Ellis, Director
(416) 603-2114

Industry:

Richmond Minerals Inc.

TSX VENTURE:RMD
Release Versions
English

Contacts

David Ellis, Director
(416) 603-2114

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