Tallahassee, FL 2/6/12 (StreetBeat) -- Toron Inc. (OTCBB: TRON) is pleased to announce that on January 25, it signed an agreement to acquire an additional 193 claims with an area of 25,730 acres which are adjacent to our 62 claims in the Tiblemont Gold Property Region for total consideration $40,000 and 8,500,000 shares of the company's common stock. Upon closing of the agreement, our total holdings in the area (including the 3 Blocks announced previously) will be a total of 255 claims encompassing 33,894 acres.The new claims are located in the southern-east part of the Abitibi Greenstone Belt of the Canadian Shield's Superior Province. The property is located approximately 40 km northeast of the mining centre of Val D'Or, Quebec. The property is located mainly in Tiblemont and Senneterre townships, with some claims in Courville and Pascalis townships.
Micheal Whitehead, CEO of the Company, states, "we are excited about being able to acquire these claims as it will give us a presence in the west, central and the south eastern part of the Abitibi Greenstone Belt. Once we close on this latest agreement, we will be poised to begin an exploration program on claims that have the right geology, history, and characteristics of finding mineralization."
To the west of, and immediate neighbor to the Tiblemont Gold Property, is the large mining property (Courville Gold Project) held by Pershimco Resources Inc. On 28 October 2011 Pershimco Resources Inc. and Osisko Mining Corporation (T-OSK) announced that they received final approval from the TSX Venture Exchange in connection with a previously announced (October 11, 2011) option and joint venture agreement on the Courville Gold Project. Under the terms of the Agreement Osisko Mining Corporation can earn a 51% interest in the joint venture by investing $20 million in exploration over a 5-year period. Pershimco Resources Inc. also grants to Osisko a second option to earn an additional 19% interest on or before the seventh anniversary of the Agreement, either by spending an additional $19.0 million Canadian dollars in exploration expenditures or by funding a feasibility study.
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