Avrupa has received conditional approval from the TSX Venture Exchange to extend the term of certain warrants which would otherwise expire on April 27, 2012. 625,000 warrants granted on October 27, 2010 with the original expiry date of April 27, 2012, are now extended to expire on April 27, 2013, with each warrant entitling the holder to purchase one common share of the Company at $0.55 per share.
Avrupa is pleased to announce that drilling on the Alvalade JV Project in the Pyrite Belt of southern Portugal started this past week. Avrupa and joint venture partner Antofagasta Minerals plan a 6-hole Phase 1 core drilling program. The initial drilling is expected to total approximately 3000 meters, with a further Phase 2 program of up to another 3000 meters expected to begin in early August 2012.
Avrupa Minerals is pleased to report that the Portuguese government officially issued two new exploration licenses to the Company via a signing ceremony in the office of the Minister of the Economy on March 23, 2012. The two licenses, Arga and Alvito, were previously described as applications in an earlier Company news release, dated October 27, 2011.
Avrupa is pleased to announce that it has purchased the remaining 10% interest in MAEPA -- Empreendimentos Mineiros e Particpacoes from owner Eng. Adriano Barros, who is one of the leading and most respected exploration and mining advocates in Portugal. Avrupa now owns 100% interest in MAEPA. Eng. Barros will continue with MAEPA and Avrupa in his role as a senior exploration and business development advisor.
Avrupa is pleased to report that the financing announced on February 27, 2012 has been closed. Avrupa issued 4 million units (a "Unit") at $0.30 per Unit for gross proceeds of $1.2 million. Each Unit is comprised of one common share and one non-transferable common share purchase warrant. Each warrant entitles the holder to purchase one additional common share for a period of 24 months that expires on March 28, 2014 at a [...]
Avrupa is pleased to announce that the Government of Portugal has approved and signed a 1-year extension to the Covas W-Au exploration license. The permit will be valid until March 20, 2013, and requires a work investment of € 500,000 to fulfill all exploration commitments. At the end of the extension period, if continued exploration is warranted, the company may request a 3-year trial exploitation license, which is [...]
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