December 16, 2013
Eureka accepts Teslin River's notification of termination of Frasergold Option Agreement
VANCOUVER, B.C. - Eureka Resources Inc. (TSX-V: EUK) (“Eureka”) announced today that Teslin River Resources Corp. (TSX-V: TLR) (“Teslin”) has notified Eureka that Teslin is terminating its Frasergold Option Agreement with Eureka.
The Frasergold Option Agreement was originally executed on November 21, 2011, and subsequently amended on April 25, 2012.
John Icke, Teslin River CEO and Interim President, declared in a Dec. 13 letter that, with the termination, Teslin River has no further rights or interest in the Frasergold property and no further obligations or liabilities to Eureka.
John J. O’Neill, President and CEO of Eureka, said Eureka directors recognize that current market conditions are unfavourable for the raising of funds for further exploration of the Frasergold property.
“Our directors remain optimistic that, with a change in the economic climate, additional funding will be raised and this project will go forward,” Mr. O’Neill said.
Eureka is the sole owner of the Frasergold property, located 100 kilometres east of Williams Lake in the Cariboo area of central British Columbia.About Eureka Resources Inc.
Since its incorporation in 1981, Eureka Resources Inc. has focused on the exploration and development of natural resource properties in order to create wealth for investors. With successful B.C. entrepreneur John J. O’Neill at the helm, Eureka has long been a steady and trustworthy presence on the province’s mineral-exploration scene. In addition to Eureka’s fostering of the Frasergold claim, the company holds the rights to the Lottie Lake copper claim, which is also in central British Columbia. Shares in Eureka Resources Inc. trade on the Venture Exchange of the Toronto Stock Exchange.
For further information please visit www.eurekaresourcesinc.com
or contact 604.608.6154
You can view the Next News item:March 18th, 2014, Eureka drops Lottie Lake Project
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