VANCOUVER, BRITISH COLUMBIA--(Marketwire - Mar 21, 2013) - Orsa Ventures Corp. ("Orsa" or the "Company") (TSX VENTURE:ORN) is pleased to announce that it has received regulatory approval for, and fulfilled closing requirements for the Joint Venture Purchase Agreement ("Agreement") with Americas Bullion Royalty Corp. (AMB.TO) and its US subsidiary to acquire their 50% joint venture interest (the "JV Interest") in the Angel''s Camp Property ("Angel''s Camp"). Angel''s Camp claims are contiguous with the Quartz Mountain claims in southern Oregon. (News release dated March 7, 2013) Orsa and its wholly-owned US Subsidiary control the other 50% joint venture interest through an Option Agreement with Seabridge Gold ("Seabridge") (SEA.TO)(NYSE Amex:SA) and its wholly-owned US subsidiary.
Angel''s Camp is comprised of 158 unpatented LODE mining claims encompassing approximately 3,000 acres adjacent to the Quartz Mountain Property which is 100% controlled by Orsa through its agreement with Seabridge. The Quartz Mountain Property is an epithermal hot spring system with a 2.85 million ounce Inferred gold Resource (110,448,000 tonnes grading 0.80 grams per tonne gold) in two rhyolite domes: Quartz Butte and Crone Hill. (News release dated February 15, 2012).
Angel''s Camp contains several additional rhyolite domes which are the host to the gold mineralization at the Quartz Mountain Property, further enhancing the exploration potential. Orsa is planning an aggressive exploration program at Angel''s Camp in addition to its development work at Quartz Mountain.
Orsa Ventures Corp. is a junior company focused on the exploration for, and development of, gold-silver-copper properties in the western United States. In addition to the Quartz Mountain and Angel''s Camp properties, Orsa announced the discovery of significant sediment-hosted gold system at its Coal Canyon Property in the Oreana Mining Trend, Nevada, where over 10 million ounces has been discovered since 2009. The Company also has the right to earn a 51% interest Ashby Property, a former gold producer and porphyry copper-gold target, located in the Walker Lane Mining Trend, host to several large copper and gold deposits in Nevada.
On behalf of the Board of Directors,
Linda Thorstad, President and Chief Executive Officer
Linda Thorstad, P. Geo., a Qualified Person as defined by National Instrument 43-101 and President and Chief Executive Officer of the Company, has read and approved the technical information in this news release.
FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements that are based on the Company''s current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the Company''s plans with respect to the closing of the Financing and the use of proceeds thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
President and Chief Executive Officer