News Release: 2011-10-24
Finore Mining Inc. Signs Drill Contract For LK Project
Vancouver, B.C., October 24, 2011 - FINORE MINING INC. (CNSX: FIN) (the "Company" or "Finore") is pleased to announce that it has signed a contract with a Finnish based drill contractor, Nivalan Timanttikairus Oy ("Nivalan") to carry out the Company's first drill program on the Läntinen Koillismaa palladium-platinum-gold-copper-nickel project ("LK Project") as part of the recently signed Option Agreement with Nortec Minerals Corp ("Nortec") (see Finore news release dated September 21, 2011). Nivalan is expected to mobilize to site by late November this year. Nivalan has experience in drilling on the LK Project, including the last 8,000 m of drilling for Nortec on the Kaukua Prospect, within the LK Project, in 2008 and 2009.
The 10,000 metre drill program will begin on the Haukiaho Prospect, situated in the southern part of the LK Project, targeting the nominal strike of 3,700 m and down-dip extension of the mineralization that was included in the Inferred Mineral Resource estimated by Watts, Griffis and McOuat ("WGM") as part of the NI43-101 technical report submitted to Nortec in March 2011 (report is filed on SEDAR).
The principal aim of this drill program is to increase the known Inferred Mineral Resource at both the Haukiaho and Kaukua prospects and to target the high-grade embayment zones that have been identified at Kaukua.
Finore's CEO, Ian Laurent, comments, "We are pleased we can begin drilling on the project, given the difficulty in obtaining drill contractors in such a short time frame. We continue to maintain the objective of significantly increasing the existing, combined Mineral Resource* at Haukiaho and Kaukua, as well as identifying new zones of mineralisation along strike of both target areas. Finore aims to increase the value of the project, and, in turn, the value of the Company".*The technical information in this news release regarding the Properties has been obtained from Nortec's news releases: (HTTP://WWW.NORTECMINERALS.COM/FILES/2011-02-22-NORTEC-LKPROJECT.PDF) and the Technical Report;(HTTP://NORTECMINERALS.COM/FILES/NI43-101-TECHNICAL-REPORT-EX-APPENDICES-LK-PROJECT.PDF). Both documents are also filed on SEDAR. The Company has not reviewed nor verified the data and cannot confirm its accuracy.
About Finore Mining Inc.
Finore is currently earning an undivided 80% interest in and to certain exploration claims known as the Lantinen Koillismaa project. Finore will continue to focus its attention on identifying and evaluating opportunities for the acquisition, exploration, and if warranted, development of a mineral resource property of merit. The Company is well funded with approximately $3.5 million in cash and approximately 38.4 million shares issued and outstanding.
For more information please visit the Company's website at www.finoremining.com.
On behalf of the board of directors of Finore Mining Inc.,
FOR MORE INFORMATION, PLEASE CONTACT:
Peter Hughes, CEO
The CNSX does not accept responsibility for the adequacy or accuracy of this release.