|November 09, 2007|
Empire Mining Completes Qualifying Transaction
| ||VANCOUVER, B.C., November 9, 2007 - Empire Mining Corporation (the "Company") (EPC: TSX-V), is pleased to report that it has satisfied all the requirements of the TSX Venture Exchange (the "Exchange") in connection with its Qualifying Transaction previously announced on September 18, 2007. Global Securities Corporation acted as sponsor in connection with the Qualifying Transaction.|
The Company's Qualifying Transaction consisted of an agreement with Anatolia Minerals Development Ltd., to earn a 65% interest in the Bursa copper-molybdenum-gold porphyry property located in western Turkey. The Qualifying Transaction closed on November 7, 2007. The common shares of the Company will resume trading on the Exchange at market open on November 12, 2007 under the new symbol EPC.
For further information, please refer to the Company's Filing Statement dated October 31, 2007 and filed on SEDAR.
The Bursa Property is located 120km south of Istanbul and covers 429km2 within a belt of demonstrated copper and molybdenum porphyry systems in Bursa and Kutahya provinces. Past drilling by Rio Tinto on one of these systems, Karapinar, intersected 0.36% Cu, 51ppm Mo, and 0.1ppm Au over 221 meters from surface and 0.31% Cu, 152ppm Mo, and 0.07ppm Au over 54m at a depth of 273 meters in the same hole. A number of drill targets on the Property with potential for economically important porphyry and associated skarn systems remain untested.
Work at Bursa will be aimed at establishing potentially economic copper-gold mineralization through drilling at Karapinar and other partially defined mineralized zones. Geochemical and geophysical surveying and geological mapping will also be carried out to identify and delineate additional targets for drill testing.
The Company's Qualified Person, John Prochnau, B.Sc. (Mining Engineering), M.Sc. (Geology), a director of Empire, has reviewed and approved the content of this news release.
ON BEHALF OF THE BOARD,
Robert F. Giustra
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved of the contents of this news release.
For more information contact:
604-638-3474 or 1-866-689-2599
Cautionary note for US Investors: This news release may contain forward-looking statements that may address future events and conditions and therefore involve inherent risks or uncertainties. Actual results may differ materially from those currently anticipated in such statements.
You can view the Next News Releases item: Thu Jan 24, 2008, Empire Grants Incentive Stock Options
You can view the Previous News Releases item: Tue Sep 18, 2007, Empire Mining Announces Qualifying Transaction
You can return to the main News Releases page, or press the Back button on your browser.