Sarissa Resources Shareholder Update
|Posted on Jan 13 2011|
|News >> Press Releases|
Oakville, ON, January 11, 2011 – Sarissa Resources, Inc. (“Sarissa” or “the Company”) (OTC Pinksheets: SRSR) is pleased to provide a general company update to inform shareholders of ongoing initiatives.
Recent activities have focused more on the corporate and strategic front as opposed to exploration. We have continued making progress on those activities, addressing capital markets, corporate and financial matters, as well as potential strategic initiatives, with the input of our professional advisors. Though we will continue ongoing exploration operations in furtherance of the development of our mineral properties, indeed we recently announced an expanded exploration program for our Shining Tree gold claims, it is the measured opinion of our management and professional advisors that enhancing the financial markets profile of our Nemegosenda project at this stage of our development will best suit the interests of our shareholders. Further, it is important to complete the professional analysis of the Nemegosenda project as we move forward in our review and negotiation of potential strategic opportunities.
The Company’s geological advisory firm prepared an updated 43-101 technical report in September of this year on the Nemegosenda property. This report has been filed at www.sedar.com. The next phase of the Company’s evaluation will be to complete a resource estimate covering the main Hawke (D) Zone of the property, which will likely be followed by a project scoping study. Additional exploration will focus on the South East Zone, and on identifying other potential areas of interest within the large land position we have accumulated in the area.
The properties comprising the Nemegosenda property are held in a wholly-owned Canadian subsidiary. We have recently changed the name of this subsidiary to Nio-Star Corp.
Diamond drilling is expected to commence early in 2011 to test further underground from the area covered by the initial drilling program that had returned encouraging results. An independent technical report will be prepared covering the property. We are also evaluating different scenarios that will allow us to have the potential value of this property recognized, including the possibility of spinning out the property into a separate gold company.
Capital Markets Matters
We have been working with our financial advisors and consultants with the goal of improving the Company’s presence in certain capital markets around the world. This and certain other initiatives are focused on improving our corporate and listing status.
All of the above referenced activities will enhance our ability to create or identify strategic opportunities that accelerate and intensify the realization of the value of our mineral properties. We have been engaged in various discussions regarding strategic initiatives that would help to optimize shareholder value. As Sarissa moves forward on these and other corporate fronts, please understand that the interests of your management team are aligned with the interests of our shareholders. We look forward to providing specific updates on our initiatives, as specific developments occur.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Sarissa Resources Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The Company does not undertake any obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
About Sarissa Resources Inc.
Sarissa Resources Inc. is a junior exploration company with interests in properties with base metal, precious metal, uranium, niobium and rare-earth prospects in Northern Ontario, Canada. The Company is specifically focused on the development of its Nemegosenda niobium project.