on Larder Lake Property Drilling Program
Oct 25, 2007 09:00 ET
TORONTO, ONTARIO--(Marketwire - Oct. 25, 2007) -
NOT FOR DISSEMINATION IN THE UNITED STATES
NFX GOLD INC. (TSX VENTURE:NFX) ("NFX") is pleased to report that diamond drilling is continuing on NFX's Larder Lake Property, following up on the two high-grade intersections from hole No. 11 (10.4 grams per tonne Au over 5.2 metres and 13.3 grams per tonne Au over 6.0 m) which were reported by NFX on August 15, 2007. NFX's joint venture partner, Maximus Ventures Ltd. ("Maximus") has reported that three holes are completed and a fourth hole is in progress and that assay results are still pending.
Maximus is conducting the drilling program pursuant to the Option and Joint Venture Agreement between Maximus and NFX, whereby Maximus has the right to earn a 60% interest in NFX's interest at Larder Lake by expending $6 million on exploration by December 31, 2008. Results of the current drilling program will be released when available.
This release contains certain "forward-looking statements". All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future, are forward-looking statements. Potential quantity and grade is conceptual in nature. There has been insufficient exploration to define a mineral resource on the properties mentioned above and it is uncertain if further exploration will result in any such target being delineated as a mineral resource. Forward-looking statements reflect the current internal projections, expectations or beliefs of the Company based on information currently available to the Company. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on, the Company.
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