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Blue Note Mining Enters into Binding Agreement to Acquire X-Ore Resources; Both Boards Unanimously Support Transaction

^{Published on 2009-11-12 07:12:43 - Market Wire}
 

 - Near-term potential for an underground mining operation producing approximately 35,000 ounces of gold per year at a cash cost of US $492 per ounce (Canadian-US exchange rate of 1.2); with the acquisition of a 50% interest in the Croinor Gold deposit, with potential to supplement this with production from other nearby properties (see X-Ore news release of May 26, 2009 regarding the study prepared by Francois Chabot, P.Eng under engineering firm Golder Associates. Note that this preliminary assessment is preliminary in nature and includes mineral resources that are not mineral reserves and do not have demonstrated economic viability). - Excellent growth potential with significant mineral exploration and past producing properties in high profile mining areas in Canada in the Bathurst mining camp in New Brunswick, the Abitibi greenstone belt in Quebec and in Northern Ontario as well as four gold properties in the prolific Sierra Madre Gold belt in Mexico; - A clean balance sheet with minimal debt; - A strong management team with significant experience in mine workovers and mining production, and demonstrated abilities in the development, construction and management of successful producing operations. 

 Forward-Looking Statements -------------------------- 

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