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This is imminent-- it's not only the beautiful and wild
Yellow Dog Plains at risk -- the press release below outlines the current
status of corporate activities that seek to bring together the financial
resources to pursue mining in sulfide ore bodies in an area of many lakes and
streams in The Contact the Sierra Club to find out how to become involved to help
protect our precious waters from the forever-effects of sulfuric acid and acid
mine drainage. - Original from: http://www.ccnmatthews.com/news/releases/show.jsp?action="">
JML Completes $2 Million Financing;
Funding Targeted For Zinc-Gold ... JML Completes $2 Million Financing; Funding Targeted For Zinc-Gold ... CCNMatthews (press release) - JML Resources Ltd. ... Ken Lapierre P.Geo (ON) and President of JML is
the Qualified Person for JML Resources Ltd. for purposes of National Instrument
43-101. ... JML Resources Ltd. TSX VENTURE: JJJ INDUSTRY: Mining - Precious Metals DECEMBER 2, 2005 - 10:20 ET JML Completes $2 Million Financing; Funding Targeted For Zinc-Gold
Project NOT FOR DISTRIBUTION TO JML Resources Ltd. (TSX VENTURE:JJJ) ("JML" or the
"Company") is pleased to announce that it has completed a brokered
private placement (the "Offering") in 2079537 Ontario Limited
("Cashco") of $2,015,900 to finance exploration work on the Back
Forty project in Michigan, currently held by Aquila Resources Corp. The
Offering is part of an agreed merger transaction ( the "Acquisition
Agreement ") in which JML will acquire 100% of the shares of Aquila
Resources Corp. (" The Agent received a commission equal to 8% of the subscription
proceeds payable at closing in cash and Units. The Agent was issued 932,500
agent compensation warrants (the "Broker Warrants") pursuant to the
transaction. Each Broker Warrant shall be exercisable at an exercise price of
$0.30 per share for a period of two years from the date of issuance. ABOUT THE BACK FORTY PROJECT The Back Forty Project is an advanced exploration project with an
identified inferred resource of 3.1 million tonnes grade 6.8% Zn, 0.25% copper,
32 g/t Ag, and 2.0 g/t Au. The resource estimate was prepared by The VMS deposit at Back Forty was discovered in February, 2002 when
three holes drilled from surface returned the following results: Discovery Drill Holes -
Section 35375 (RJ’S NOTE – THIS TABLE WAS REMOVED DUE TO FORMATTING
ISSUES HERE – SEE THE URL LINK ABOVE FOR THIS INFORMATION!!!)
Note: Intervals noted above are apparent and not true width. Au equals gold, Ag equals silver; Cu equals copper; Pb equals lead; Zn
equals zinc m equals meters Proceeds from the initial financing will be used to expand the known
massive sulfide zones, define peripheral gold zones in altered host rocks, test
new geophysical targets, and to conduct preliminary metallurgical assessment of
mineralization identified to date, as well as for general corporate purposes. Robin Dunbar CFO and Director of JML stated " We like zinc.
Through this transaction JML shareholders will gain exposure to an exciting
base and precious metal discovery. The Back Forty Project has excellent
potential for resource expansion and additional discoveries". Mr. Thomas
Quigley, CEO of Ken Lapierre P.Geo (ON) and President of JML is the Qualified Person
for JML Resources Ltd. for purposes of National Instrument 43-101. STATUS OF THE RTO In accordance with the TSXV policies, JML is preparing and finalizing
the documentation required to be filed according to Policy 5.2 of the TSXV,
including the Management Information Circular which provides full disclosure of
all the material facts relating to the RTO. Completion of the transaction is subject to a number of conditions
including but not limited to TSXV acceptance and approval by the shareholders
of JML and Investors are cautioned that except as disclosed in the Management
Information Circular to be prepared in connection with the transaction, any
information released or received with respect to the transaction may not be
accurate or complete and should not be relied upon. Trading in the securities
of JML should be considered highly speculative. For more information please visit JML's website at:
www.jmlresources.com Certain information regarding the Company contained herein may
constitute forward-looking statements under applicable securities laws. Such
statements are subject to known or unknown risks and uncertainties that may
cause actual results to differ materially from those anticipated or implied in
the forward-looking statements. The securities being offered have not and will not be registered in the
United States under the United States Securities Act of 1933, as amended (the
"1933 Act") or any state securities laws, and may not be offered or
sold within the United States or to or for the account or benefit of U.S.
persons absent U.S. registration or an applicable exemption from U.S.
registration requirements. This news release does not constitute an offer to
sell or a solicitation of an offer to purchase securities in the Shares Outstanding: 27,326,910 The TSX Venture Exchange has not reviewed and does not accept
responsibility for the contents of this release. CONTACT INFORMATION JML Resources Ltd. David Black Investor Relations 1-416-203-1404 1-416-368-1539 (FAX) investors@jmlresources.com ~Rita ><><><><><>><><><><> Rita Jack Water Sentinels Project Sierra Club Mackinac Chapter tel: 517-484-2372 www.michigan.sierraclub.org www.sierraclub.org/watersentinels Make all |