tresor

Projects in Ontario and Quebec, Canada and the Ashanti region of Ghana, West Africa

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2010-03-09 15:32

TRES-OR (GHANA) LIMITED INCREASES SHARE OF GOLD SALES AT AGUDEE

Posted by admin on 12/16/09 • Categorized as Ghana News, News Releases

Tres-Or Resources Ltd. (the “Company”) is pleased to announce that its wholly-owned subsidiary Tres-Or (Ghana) Limited (“Tres-Or Ghana”) has increased its percentage share in the proceeds from the sale of any gold mined at the Agudee Gold Project in Ghana, West Africa. In April 2009 Tres-Or Ghana entered into a profit sharing agreement (the “Agreement”) with a private Ghanaian company whereby the two parties (the “Parties) will collaborate in providing mining and related services to gold mining projects in Ghana and share in the profits derived therefrom on a 50/50 basis (see news release dated April 6, 2009).
Initial joint efforts by the Parties has focused on the development and production of gold in connection with the Agudee Gold Project a group of concessions registered under the Small Scale Mining Act and held by a local syndicate of companies located in the Atwina Mpanua District of the Ashanti Region in central Ghana. As consideration for providing turnkey mining and project development and administration services at the Agudee Project the Parties will collectively now be entitled to 85% of the proceeds from the sale of any gold mined, to be split 50/50 between the Parties.
Under the terms of the Agreement, Tres-Or Ghana has met the requirements to fund the mining costs in stages needed to place the Agudee Project into commercial production. The fabrication and assembly of the floating, alluvial gold recovery plant is complete and operational on the Agudee project site. Gold bearing gravels are processed and concentrated on the floating plant and final gold recovery from the concentrate produced at the plant is processed using gravity feed systems for the mineral table circuit. No chemicals or mercury is used in the gold recovery process. Laura Lee Duffett, P.Geo., President and CEO of the Company is the qualified person by the standards of National Instrument 43-101 overseeing the project and is responsible for the scientific and technical information in this news release.
On behalf of the Board of Directors,
December 16, 2009
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.

Tres-Or Resources Ltd. (the “Company”) is pleased to announce that its wholly-owned subsidiary Tres-Or (Ghana) Limited (“Tres-Or Ghana”) has increased its percentage share in the proceeds from the sale of any gold mined at the Agudee Gold Project in Ghana, West Africa. In April 2009 Tres-Or Ghana entered into a profit sharing agreement (the “Agreement”) with a private Ghanaian company whereby the two parties (the “Parties) will collaborate in providing mining and related services to gold mining projects in Ghana and share in the profits derived therefrom on a 50/50 basis (see news release dated April 6, 2009).

Initial joint efforts by the Parties has focused on the development and production of gold in connection with the Agudee Gold Project a group of concessions registered under the Small Scale Mining Act and held by a local syndicate of companies located in the Atwina Mpanua District of the Ashanti Region in central Ghana. As consideration for providing turnkey mining and project development and administration services at the Agudee Project the Parties will collectively now be entitled to 85% of the proceeds from the sale of any gold mined, to be split 50/50 between the Parties.

Under the terms of the Agreement, Tres-Or Ghana has met the requirements to fund the mining costs in stages needed to place the Agudee Project into commercial production. The fabrication and assembly of the floating, alluvial gold recovery plant is complete and operational on the Agudee project site. Gold bearing gravels are processed and concentrated on the floating plant and final gold recovery from the concentrate produced at the plant is processed using gravity feed systems for the mineral table circuit. No chemicals or mercury is used in the gold recovery process. Laura Lee Duffett, P.Geo., President and CEO of the Company is the qualified person by the standards of National Instrument 43-101 overseeing the project and is responsible for the scientific and technical information in this news release.

On behalf of the Board of Directors,

“Laura Lee Duffett”

Laura Lee Duffett President and CEO

NEWS RELEASE

Contact: Brian Biles, Corporate: Ph: 604-688-8700 Email: info@tres-or.com Website: www.tres-or.com

December 16, 2009

Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.

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