South Voisey’s Bay Project Expands as Fjordland Options Claims from Vulcan Minerals in Labrador
Vancouver, BC, March 26, 2018 ─Commander Resources Ltd. ("Commander") (CMD:TSX-V) is pleased to report that its project partner Fjordland Exploration Inc. ("Fjordland") (TSX.V: FEX) has expanded the company’s South Voisey’s Bay nickel-copper-cobalt project (the “SVB Property”) located 80 kilometres south of Vale's Voisey's Bay nickel mine in Labrador, Canada. Fjordland has signed a Letter of Intent with Vulcan Minerals Inc. (“Vulcan”) granting Fjordland the option to acquire a 65% interest in 30 mining claims located in the South Voisey’s area, Labrador. Under the terms of the agreement, Fjordland has the option to pay to Vulcan $45,000 and incur $150,000 in exploration expenditures over a period of three years. If the option is exercised a joint venture will be formed whereby Vulcan will be carried for 100% of its joint venture expenditures on the claims until Fjordland earns its full interest from Commander on surrounding contiguous lands or a minimum expenditure of $7 million on those lands.
The property is contiguous to mineral tenure held by Fjordland and Commander as part of their South Voisey’s Bay nickel-copper-cobalt Project (“SVB Project”). Fjordland’s strategic investor, High Power Exploration Inc. has notified Fjordland that they intend to fund a minimum of $1.2 million of the proposed 2018 summer drill program on the SVB Project.
Robert Cameron, P. Geo. is a qualified person within the context of National Instrument 43-101 and has read and takes responsibility for the technical aspects of this release.
About Commander Resources:
Commander Resources is a Canadian focused exploration company that has leveraged its success in exploration through partnerships and sale of properties, while retaining equity and royalty interests. Commander has a portfolio of base and precious metal projects across Canada and significant equity positions in Maritime Resources Corp. (MAE-TSX.V) and Aston Bay Holdings (BAY-TSX.V). Commander also retains royalties from properties that have been partnered, optioned or sold.
On behalf of the Board of Directors
Robert Cameron, P. Geo.
President and CEO
For further information, please call:
Robert Cameron, President and CEO
Toll Free: 1-800-667-7866
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. This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.