Far Resources Amends Option Agreement with Alchemist Mining Inc.

FAT-NR-20150806-AmendsOptionToAlchemist.jpg
 

Far Resources Amends Option Agreement with Alchemist Mining Inc.

 

August 6, 2015 – Vancouver, B.C.: Far Resources Ltd. (CSE:FAT) (“Far” or “the Company”) announces that it has amended the terms of the option agreement (the “Amendment Agreement”) with Alchemist Mining Inc. (“Alchemist”) whereby Alchemist may acquire up to 80% undivided interest in and to 6 mineral claims, consisting of 2508 hectares, located in North-Central British Columbia known as the Tchentlo Lake Property (the “Property”).

 

Under the terms of the Amendment Agreement, Alchemist’s requirement of $25,000 in exploration expenditures and the issuance to Far of 150,000 common share the capital of Alchemist, due on or before one year from closing, has been eliminated.  Alchemist’s second cash payment for $10,000 will be payable to Far by August 10, 2015.  All other terms of the option agreement will remain in full effect.  Details of the option agreement and the Property are in the Company’s news release dated June 24, 2014.

 

About the Company

Far Resources Ltd. is an exploration company, publicly traded on the Canadian Securities Exchange under the symbol FAT, focused on the identification and development of high potential mineral opportunities in stable jurisdictions.

 

ON BEHALF OF THE BOARD OF DIRECTORS OF

FAR RESOURCES LTD.

 

Keith C. Anderson, President

The Canadian National Stock Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.

 

This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward -looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. Specifically, the Option Agreement is subject to numerous conditions and there are no assurances that all conditions will be satisfied or waived or that the acquisition of the Property will be successfully completed on the terms and conditions contemplated herein or at all. All of the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These  forward-looking statements are  made  as  of  the  date  hereof and  the  Company does  not  assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation.