Thursday, September 20, 2007
QUEBEC, QUEBEC, Sep. 20, 2007 (Marketwire delivered by Newstex) -- Virginia Mines Inc. ('Virginia') (TSX: VGQ), Canadian Royalties Inc. ('Canadian Royalties') (TSX: CZZ) and Azimut Exploration Inc. ('Azimut') (TSX VENTURE: AZM) are pleased to announce their participation in the Fonds Explor-Action Nunavik (FRAN), which was created to rehabilitate mineral exploration sites in Northern Quebec that have been abandoned for several decades.
The FRAN is a partnership between the Quebec Government, the mining industry and the Inuit community. The fund will allow, starting this year, the cleanup and rehabilitation of abandoned sites. According to previous studies, nearly 600 sites have been identified, of which 18 are considered a priority. Work has already started on several of the 18 priority sites.
Virginia, Canadian Royalties and Azimut are proud to have participated in the creation of FRAN and to make a financial contribution toward rehabilitating abandoned sites.
Following the creation of FRAN in March 2007, more than 30 companies from the mining sector confirmed their financial participation for a total of more than $1.5 million. Virginia, Canadian Royalties and Azimut have respectively contributed $100,000, $100,000 and $50,000. In addition, Canadian Royalties will continue clean up work of sites abandoned by previous explorers at their Nunavik nickel project.
Virginia, Canadian Royalties and Azimut consider mining exploration and exploitation to be economic activities that should be conducted in a socially and environmentally responsible manner.
Virginia Mines Inc.
Toll Free: 800-476-1853
Canadian Royalties Inc.
Glenn J. Mullan
Chairman of the board
Toll Free: 877-879-1688
Azimut Exploration Inc.
Newstex ID: MW-0001-19710582
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