March 14, 2012 08:15 ET
MDN Acquires Ground at the Ikungu Gold Project in Tanzania
MONTREAL, QUEBEC–(Marketwire – March 14, 2012) – MDN Inc. (“MDN”) (TSX:MDN) is pleased to announce that it has acquired the entire control of a 133.33 km2 area to the east of its Ikungu property in Tanzania. The request for the prospecting licences was been granted to MDN by the United Republic of Tanzania Ministry of Energy and Minerals.
MDN’s geological compilation of available information and interpretation of data suggests that the Ikungu gold-bearing structure continues towards the east. The new ground acquisition will enable MDN to explore an additional 15 km along the interpreted eastern extension of the Ikungu structure.
This new property covers a large portion of the area between Ikungu and the active artisanal gold mine at the Magarombe site, located on trend with the Buhemba colonial high-grade gold mine which produced 393,000 tonnes at 12 g/t Au.
“This new acquisition allows MDN to take control of the area around the Ikungu advanced drill program, making MDN one of the most important mining titles owner in that sector of the Tanzania.” said Marc Boisvert, Ing., MDN’s Vice President of Exploration.
MDN Inc. (TSX:MDN) is a mining exploration and development company exploring and developing projects in Quebec and Tanzania. The company is also active in the search for new business opportunities that can increase shareholder value. As well as holding a 30% participating interest in the Tulawaka gold mine, MDN has also discovered gold in Tanzania at the Ikungu property, where four high-grade gold zones have been identified. MDN Inc. also owns a 72.5% interest in Crevier Minerals Inc., which owns an NI 43-101 niobium-tantalum resource in the Lac-Saint-Jean area of Quebec. MDN has an option to increase its interest in Crevier Minerals Inc. to 87.5%. Additional information is available on MDN’s website at www.niobaymetals.com
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Forward-Looking Statements Other than statements of historical fact. all statements in this release that address events or developments that the Company expects to occur are forward-looking statements. Although the Company believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions. such statements are not guarantees of future performance. and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements are discussed in greater detail in the Company’s most recent Annual Information Form filed on SEDAR. which also provides additional general assumptions in connection with these statements. Investors and others who base themselves on the Company’s forward-looking statements should carefully consider the factors mentioned in the Annual Information Form as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in those forward-looking statements are reasonable. but no assurance can be given that these expectations will prove to be correct. and as such. the forward-looking statements in this press release should not be unduly relied upon. These statements speak only as of the date of this press release.
Serge Bureau. Ing.
President and Chief Executive Officer
514 866-6500. Ext. 221
514 866-6500. Ext. 228
Marc Boisvert. Ing.
Vice President. Exploration
514 866-6500. Ext. 227