Arianne Resources Inc. (Arianne) would like to provide an update on its proposed spin-off of its Mexican Properties announced previously in a press release dated May 12th, 2008. As previously stated, the Corporation intends to, subject to regulatory approval, to restructure its holdings whereby the Corporation intends to divest itself of its Mexican Properties located in the Sinola region of Mexico. The proposed restructuring will allow the Corporation to fully focus on advancing on the exploration principally for gold and silver in Mexico, while Arianne will continue to focus on the development of its Canadians projects.
Arianne is working diligently toward the spin-off of its gold properties into a new public company, namely Oroplata Exploration Inc. The new company will hold all of the Mexican properties which include two properties, the El-Rey and the San-Jose.
Aianne expects the filing of the preliminary prospectus of Oroplata Exploration to be completed within the next upcoming days in order to raise somewhere between 2 and 3 million dollars and to qualify the distribution of the shares to Arianne’s shareholders under securities laws. Northern Securities will be the agent for the initial public offering. The prospectus will provide a full description of Oroplata, including its management, properties and proposed exploration program. The spin-off of its properties to Oroplata Exploration is expected to be completed soon thereafter. A followup press release will then be issued announcing the declaration of a stock dividend and the distribution date for the distribution of the shares of Oroplata Exploration to the shareholders of Arianne.
The direction believes by establishing a new public vehicle to develop the Mexican properties, management will be able to unlock the true value of the El-Rey property.”
Arianne Resources is a Canadian exploration company with the primary mission to explore, find and develop gold and uranium deposits in Canada and Mexico. The content of this press release was reviewed and approved by Mr. Bernard Lapointe, Ph.D. geo. and Qualified Person as defined in NI 43-101.
This news release contains certain forward-looking statements, including statements about the distribution by Arianne of the shares of Oroplata. These forward-looking statements are subject to a variety of risks and uncertainties beyond the ability of Arianne and Oroplata to control or predict, which could cause actual events or results to differ materially from those anticipated in such forward-looking statements, including risks relating to the parties’ ability to complete the transaction and to obtain the necessary approvals, and other risks disclosed in filings with the Canadian securities regulators made by Arianne. Accordingly, readers should not place undue reliance on forward-looking statements.
Investors are encouraged to visit Arianne Resources investor relations hub at www.agoracom.com/IR/Arianne to ask questions and receive answers or consult the questions and answers already posted by other investors. Investors can send all questions or requests for information to DAR@agoracom.com and they may also apply to be added to the mailing list to receive future press releases and updates timely.