Territory. T The Com p “Vendors” option the Make cash Issue 1,80 Incur $2,0 Taji r, BC, June 9 ce it has sign e property consis of Dawson City ulch and Ken o The property h pany has sign e ”) to acquire 1
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Taji iri Resou urces Acq quires Yukon Inca a Property y
Vancouver, BC, June 9th, 2011 – Taj jiri Resources s Corp. (“Taji iri”) (the “Com mpany”) (TSX
XV: TAJ) is p pleased to announc Inca Property in the ce it has signe ed an Option A Agreement (th he “Agreement t”) to acquire 100% of the I Yukon.
cres, located 230 km The Inca p property consis sts of 48 quartz z claims coveri ing 21 hectares s, or approxima ately 51,000 ac northeast o of Dawson City y, Yukon Terr ritory. The Inc ca property situ uated between known deposi its of Red Mou untain, Dublin Gu ulch and Keno
- Hill all situa ated within a w well-known si ilver belt trend ding west/east through the Y Yukon
Territory. T The property h had exploration n activities beginning in 1972 2 with results being published d in 1974.
ed an option agreement wit The Comp pany has signe th Messer’s T Tom Morgan, Karl Zeigh, a and Dan Coyn ne (the hip in the Inca a Property ov “Vendors”
”) to acquire 100% ownersh ver a three-yea ar period. In o order to exerci ise the option the company will:
Make cash h payments totalling $600,000 consisting of f:
� $150,000 up pon receipt of T TSXV approva al (the “Effectiv ve Date”)
� $150,000 on n or before the first anniversary of the Effec ctive Date � $150,000 on n or before the second anniversary of the Ef ffective Date � $150,000 on n or before the third anniversa ary of the Effec ctive Date Issue 1,80 00,000 Shares a as follows:
450,000 Sha ares upon recei ipt of TSXV ap pproval ( the “ “ Effective Date e”)
� e Effective Date � 450,000 Sha ares on or befor re the first ann niversary of the � 450,000 Sha ares on or befor re the second a anniversary of the Effective D Date � 450,000 Sha ares on or befor re the third ann niversary of the e Effective Dat te Incur $2,0 000,000 in expl loration expend ditures on the I Inca Property o over a period o of three years a as follows:
� $200,000 on n or before the first anniversary of the Effec ctive Date n or before the second anniversary of the Ef � $500,000 on ffective Date � $1,300,000 on or before the third anniversary of the Effective Date
The property is subject to a 3% NSR in favour of the Vendor. The Company will have the option to reduce the NSR at any time to 1.5% for a cash payment of $1,500,000 to the Vendor.
The Property
According to the Yukon Geological Survey (Minfile #105O 015) exploration began in 1974. In 1974 grid soil sampling and bulldozer trenching located more than 10 galena-bearing veins containing galena with high silver to lead ratios. The best exposures were in Zone 12 where a 0.3 to 0.9 m wide lens of massive galena assaying 3,773 grams/ton silver (Ag) was exposed in a northeast-trending fault for a length of 40 m. The property changed hands in 1983. During 1983, 1984, 1985 and 1986 Dawson Eldorado Mines Ltd. extracted 1125 tons of ore from surface to produce 188,000 ounces of Silver.
Investors are cautioned that the quantity of silver production referenced above comes from third party non complaint 43-101 reports and while it is believed to be accurate, company personnel have not verified these production records and therefore cannot verify the claims and it is therefore provided only for illustration purposes
The closing of this transaction is subject to a due diligence review and the filing and approval by regulatory authorities.
Technical information in this news release has been reviewed by Derrick Strickland, P.Geo, and a qualified person as defined in NI 43-101.
On Behalf of the Board,
Tajiri Resources Corp.
“Albert (Rick) Timcke”
President
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.
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1450 – 409 Granville Street Vancouver, British Columbia V6C 1T2
Telephone 604-642-0115 Facsimile 604-642-0116 Email [email protected]