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Hemis Announces Joint Venture with Condor Gold Corporation at Anchor Point
LAS VEGAS (Business Wire EON) November 26, 2007 -- Hemis is pleased to announce it has entered into a mineral exploration joint-venture agreement with Condor Gold Corporation, on Hemis' Anchor Point Gold Project in the Cook Inlet area in Alaska.
Pursuant to the agreement, Condor Gold Corporation may earn a 49%-undivided interest in and to Hemis' rights and title to explore and commercialize the Anchor Point Gold Project by paying USD$2,000,000 to Hemis within 12 months of the agreement. Condor Gold Corporation may increase its interest to 60% in the Anchor Point Gold Project by paying a further USD$2,000,000 within 24 months of the agreement. Hemis will continue to be the operator of the joint-venture.
The Anchor Gold project is in the Cook Inlet of Alaska and is one of Hemis' premium exploration properties. It is believed that due to the size of the project area it could have great potential.
A preliminary oceanographic was conducted in June, 2007 on the Anchor Gold project. On board instrumentation included a high-precision cesium magnometer, a fathometer, side-scan sonar and a StrataBox(R). The StrataBox is an instrument capable of imaging through sediments up to 40 meters thick. The survey boat used a GPS control system and also had a bottom sampler on board. The oceanographic survey indicated that the water depth in the area of interest was less than 10 meters in many of the areas of interest. This is an ideal water depth from the standpoint of future exploration. The magnetometer survey confirmed the position and strength of airborne magnetic surveys taken twenty years ago by Aspen Exploration.
Exploration work is active at this time at the Anchor Point Gold Project.
Douglas Oliver, Hemis' Chief Geologist and COO states, "We are committed to developing the Anchor Point property in Alaska. The partnership with Condor Gold Corporation gives Hemis a strong financial partner that will help advance a highly prospective area in our portfolio of properties."
About Hemis Corporation
Hemis Corporation is a precious metals exploration company trading on the OTCBB under the symbol HMSO and listed on the Frankfurt stock exchange under the symbol XZA. Hemis is comprised of both a resource division and a resource investment unit. Hemis' high profile team is focused on evaluating gold projects with strong potential. The resource investment unit is actively reviewing other natural resource companies for joint ventures and investment.
Hemis is incorporated in Nevada, USA with its head office in Zurich, Switzerland and North American corporate communications representatives in Canada and the United States. Led by an experienced team of exploration geologists and financial professionals, the company has extensive international capital markets experience and a proven track record.
The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to commencement of drilling operations, concentration in mineral deposits, delays in testing and evaluation of ore samples, and other risks detailed from time to time in Hemis' filings with the Securities and Exchange Commission.
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