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Old 04-02-2012, 08:54 PM
David123 David123 is offline
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Default Hud Bay & VMS - NEWS - Prefeasibilty Completed

REED COPPER PROJECT POSITIVE PRE-FEASIBILITY STUDY COMPLETED

http://tmx.quotemedia.com/article.ph...&qm_symbol=VMS


VANCOUVER, BRITISH COLUMBIA - VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS" or the "Company") is pleased to announce that Hudbay Minerals Inc. (TSX:HBM)(NYSE:HBM) ("Hudbay") has informed the Company that a NI 43-101 pre-feasibility study completed by Hudbay and Stantec Consulting Ltd. (North Bay, Ontario) outlined positive economics for the Reed Copper project. VMS owns 30% of the Reed Copper project joint venture, which is operated by Hudbay and is located 120 km from Flin Flon, Manitoba. According to Hudbay, first production is expected by Q3 - 2013.

Reed Copper Deposit Mineral Reserves(1) - March 30, 2012

Category Tonnes Au (g/t) Ag (g/t) Cu (%) Zn (%)
Probable 2,157,000 0.48 6.02 3.83 0.59

(1) Shown as 100% of the mineral reserves; VMS has a 30% interest in the
Reed Copper project joint venture.

VMS Ventures CEO,Rick Mark, remarked: "We are pleased with the results of the pre-feasibility study and how closely it compares to the PEA completed in December 2011. This demonstrates the robust nature of the Reed deposit. First production in Q3 - 2013 is good news for VMS shareholders. We will continue to add value to the project by evaluating trade-off studies, not included in the pre-feasibility, with Hudbay's mining team and remain optimistic about adding tonnage down dip at Reed. For those bullish on the copper price in 2014, and beyond, the cash flow projections are most encouraging."


A summary of the project's economic assessment follows (100% basis):


-- Initial production at Reed is expected by Q3 - 2013 and will ramp up to
full production of approximately 1,300 tonnes per day by Q1 - 2014.
-- Average expected reserve ore grades of 3.83% copper, 0.48 g/t gold and
6.02 g/t silver, slightly better than PEA due to the exclusion of the
inferred resources in the pre-feasibility study.
-- Assumed metal recoveries in Hudbay's Flin Flon Concentrator of 94%
copper, 58% gold and 62% silver.
-- Average production in concentrate of approximately 17,000 tonnes per
year of copper metal.
-- Total operating costs estimated to average approximately $90 per tonne
milled ($67 per tonne mining, $16 per tonne milling and $7 per tonne
administration) over a five year mine life.
-- Sustaining capital expenditures are expected to total approximately $52
million over the five year mine life.
-- Pre-Feasibility pre-tax NPV (8%) of $57.4 million using weighted average
metal prices of US$2.95/lb. for copper, US$1,269.09/oz. for gold and
US$24.78/oz. for silver.


The comparison of the pre-feasibility and the PEA value is shown below, these changes mainly reflect the 170,000 tonnes of inferred resources that were not included in this study.


---------------------------------------------------------------------------
Pre-Feasibility
Value PEA Value Difference Difference
(CDN$000s) (CDN$000s) (CDN$000s) %
---------------------------------------------------------------------------
Tonnes Milled 2,157,376 2,380,167 -222,791 -9.4%
---------------------------------------------------------------------------
NSR $423,212 $458,506 ($35,294) -7.7%
---------------------------------------------------------------------------
Royalty ($178) ($197) $19 -9.5%
---------------------------------------------------------------------------
Net Revenue $423,033 $458,309 ($35,276) -7.7%
Operating Costs:
Mining $143,891 $161,199 ($17,308) -10.7%
Milling $34,022 $37,535 ($3,513) -9.4%
Overhead $16,030 $18,899 ($2,869) -15.2%
---------------------------------------------------------------------------
Total Operating $193,943 $217,633 ($23,690) -10.9%
---------------------------------------------------------------------------
Operating Margin $229,090 $240,676 ($11,586) -4.8%
Initial Capital ($71,910) ($70,633) ($1,277) 1.8%
Sustaining Capital ($52,350) ($55,355) $3,005 -5.4%
Closure ($2,405) ($2,405) $0 0.0%
---------------------------------------------------------------------------
Pre-Tax Cash Flow $102,426 $112,283 ($9,857) -8.8%
NPV8 $57,443 $64,917 ($7,474) -11.5%
IRR 34.7% 36.7%
---------------------------------------------------------------------------

The pre-feasibility study prepared by Hudbay and Stantec in respect of the Reed deposit demonstrates that the indicated resources can be converted to reserves and economically viable for extraction by long-hole open stoping at a rate of 1300 TPD.


Reed Copper Project Assumptions and Qualifications


Production at Reed is scheduled to begin at the 260 metre level from Zones 10 and 20 and in Zone 30 from the 135 metre level. Mining is expected to finish in Zone 30 from the 85 metre level, in Zone 20 from the 110 metre level and in Zone 10 on the 285 metre level.


Run of mine ore will be transported by truck directly to Flin Flon where it will be crushed to less than 150 millimeters. The Reed ore will be batched independently through the Flin Flon concentrator with assumed metal recoveries of 94% copper, 58% gold and 62% silver producing a copper concentrate.


Access to the underground mineral resources will be via a trench, portal and decline located near the center of the surface site. The decline will be excavated 6 metres wide and 5 metres high to a depth of 510 metres from surface and be able to accommodate a 60 tonne truck. Ore and development waste will be hauled to surface via the decline. Each mining level, spaced 25 metres vertically, will be accessed from the decline and will be 5.5 metres wide by 4.5 metres high to accommodate a 10 yard load, haul and dump scooptram.


The project will be powered by diesel generators and power distributed to surface buildings and underground.


Stantec provided capital estimates for: surface infrastructure, underground dewatering, indirect costs (contractor, construction management). Hudbay provided capital estimates for underground development and construction, mine equipment, all other indirect costs, operating costs, sustaining capital, production schedule and metal price forecast.


Proposed Construction schedule: March 2012 - site clearing of portal area, April 2012 - Portal grouting, June 2012 - Excavation of trench, August 2012 - start underground development, Jan 2014 - project complete.


Qualified Person


Neil W. Richardson, P.Geo., Chief Operating Officer of VMS Ventures Inc., a Qualified Person in accordance of Canadian Regulatory requirements as set out in NI 43-101, is responsible for the information in this release.


About VMS Ventures Inc.


VMS Ventures Inc. is focused primarily on acquiring, exploring and developing copper-zinc-gold-silver massive sulphide deposits in the Flin Flon-Snow Lake VMS Belt of Manitoba. The Company's VMS project property portfolio consists of the Reed Lake Project, Copper Project, McClarty Lake Project, Sails Lake Project, Puella Bay Project and Morton Lake Project. Outside of the Snow Lake camp, the Company holds massive sulphide prospective properties near the past producing Fox Lake and Ruttan copper-zinc mines, near the communities of Lynn Lake and Leaf Rapids in northern Manitoba. These properties are located in the mining friendly province of Manitoba, Canada. The Company also has optioned three properties in the Sudbury mining camp. They are Terra Incognita,Golden Pine and Black Creek.


ON BEHALF OF THE BOARD OF DIRECTORS

John Roozendaal, President

VMS Ventures Inc.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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  #2  
Old 04-24-2012, 08:35 PM
David123 David123 is offline
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Default VMS Ventures News - Update Mine & Drilling

VMS Ventures Inc.: Reed Copper Project and Reed North Area Exploration Update, Snow Lake, Manitoba

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 24, 2012) - VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS") announces results from the 2012 winter drilling program at the "Reed Copper project" and "Reed North". The operator of the projects is Hudbay Minerals Inc. (TSX:HBM)(NYSE:HBM) ("Hudbay").

At the Reed Copper project, one hole was completed and one hole was abandoned due to deteriorating ice conditions. A total of 1,632 metres were drilled. Near the Reed Copper deposit, hole RLE030 was drilled to a depth of 725 metres testing a Time-Domain Electromagnetic anomaly. In the Reed North area, two holes were completed and two other holes were abandoned. A total of 1,475 metres were drilled at Reed North.

Site preparation is now on-going for the underground development of the Reed Copper project. Trenching for the portal entrance has begun, an office trailer has been mobilized to the site and other surface infrastructure has been established.

Neil Richardson, VMS' Chief Operating Officer, states: "We were disappointed to lose the initial hole testing for the down plunge extension of copper rich Zone 10 at Reed, so we will have to wait until next winter to determine the presence of mineralization between the 500 and 800 metre levels. Drilling of the Reed North area continues to show interesting intersections, but no significant lenses have been discovered to date. The trenching of the portal entrance at Reed has begun and represents the first milestone in bringing this deposit to commercial production."

Two holes tested the down plunge continuation of the high grade copper lens (Zone10) below the current planned mining levels. The first hole, RLD040, was collared on an un-named lake just south of the deposit. This hole reached a depth of 526 metres before the drill was pulled off the collar site due to deteriorating ice conditions. Hole RLD041 was collared and intersected the projected Zone 10 horizon around the 1,000 metre level. No significant sulphides were noted in the core at that depth. Follow-up BHPEM survey failed to detect any significant sulphides. The 500 to 800 metre level of the projected Zone 10 horizon remains untested.

Four holes were collared in the Reed North area. Two holes reached their target depth and two were abandoned due to drilling problems. Hole RLE031 intersected 1.12m of 12.63% zinc. Follow-up hole RLE034 targeted the up-dip projection of this Zn-rich lens, but failed to intersect any significant economic mineralization.

Hole RLE030 targeted a time-domain electromagnetic anomaly situated between the Reed Copper deposit and the Highway Zone. This hole intersected near-solid pyrrhotite that explained the EM anomaly, but no economic sulphides were observed.

REED COPPER AND OPTION PROPERTIES ASSAY DATA

Hole Number From (m) To (m) Length (m) Cu % Zn % Au (g/t) Ag (g/t)
RLE031 561.40 562.52 1.20 0.76 12.63 1.44 5.45

RLE030 No Significant Assays

RLE034 No Significant Assays

RLD041 No Significant Assays
True widths unknown

REED COPPER AND OPTION PROPERTIES COLLAR INFORMATION

Hole Number UTM East (1) UTM North (1) UTM Elevation (1) Azimuth (2) Dip Length (metres)
RLE030 393950 6049135 295 30 -55 725.00
RLE031 395191 6050361 292 360 -60 604.00
RLE032 395191 6050361 292 360 -52 81.00
RLE033 395191 6050361 292 360 -52 143.00
RLE034 395191 6050361 292 360 -52 630.00
RLD040 393600 6048550 290 335 -62 526.00
RLD041 393035 6048643 292 35 -68 1090.00

(1) Universal Transverse Mercator / North American Datum 1983 / Zone 14
(2) "Azimuth" is degrees from True North

REED COPPER PROJECT JOINT VENTURE UPDATE

On April 2, 2012, VMS and Hudbay announced a positive prefeasibility study on the Reed Copper project. For details see press release dated April 2, 2012 available at: http://www.vmsventures.com. Highlights include production commencing Q3 2013, average expected reserve grade of 3.83% copper with a 94% recovery rate.

On December 19, 2011 VMS and Hudbay announced a preliminary economic assessment and technical report on the Reed Copper deposit.

On July 6, 2010 VMS and HudBay announced they had entered into a joint venture agreement in which HudBay and VMS have 70% and 30% interests, respectively, in the Reed Copper project and two claims immediately south of the deposit. The parties have also entered into four option agreements which grant HudBay the right to earn a 70% interest in properties held by VMS and adjacent to the Reed Copper deposit property.

For additional details on the Reed Copper deposit, see VMS' NI 43-101 compliant technical report entitled "Technical Report Reed Deposit, Central Manitoba, Canada" dated March 31, 2011 available at www.sedar.com.

QUALIFIED PERSON

All technical information in this release has been reviewed by Dr. Mark Fedikow, P.Geo, who is the Qualified Person for the Company and Vice President of Exploration and Technical Services, VMS Ventures Inc.

QUALITY ASSURANCE AND QUALITY CONTROL

Exploration core drilling was NQ size. The core was logged and mineralized intersections were marked for sampling and assaying by geologists and geotechnicians employed by HudBay's Hudson Bay Exploration and Development Company Limited (HBED) subsidiary. The marked intersections or intervals were sawn in half by a diamond saw and one half of the core was placed in plastic bags and tagged with unique sample numbers, while the second half was returned to the core box and stored. Each bagged core sample was transported to HudBay's Hudson Bay Mining and Smelting Co., Limited (HBMS) subsidiary's assay laboratory in Flin Flon, Manitoba where it was dried, crushed and pulverized and a 250-gram sample was prepared for assaying at Acme Analytical Laboratories Ltd., an independent company in Vancouver, B.C., or the HBMS assay laboratory. From each 250 gram sample 0.25 grams was removed and leached in aqua regia and analyzed by ICP-AES for Ag, Cu, Zn, As, Pb, Ni and Fe. Also from the 250 gram sample, 30 grams were removed for gold determination by fire assaying with an ICP-AES or gravimetric finish at the Acme laboratory or an Atomic Absorption or gravimetric finish at the HBMS laboratory.

Assay integrity is monitored internally with a quality control program, which includes the use of standard reference materials, blanks, duplicates and repeats and externally through national and international programs. In addition, within each group of 20 core samples, one core sample has a second 250 gram split collected that was check assayed at a different laboratory, either the HBMS laboratory in Flin Flon or at the Acme laboratory in Vancouver, B.C. This news release provides core lengths and estimates of vertical thickness only. True widths are not provided. Where metal assays are provided for intersections they are either a single assay of a sample of the entire intersection length or a composite of assays calculated from interval weighted assays over the intersection length.

About VMS Ventures Inc.

VMS Ventures Inc. is focused primarily on acquiring, exploring and developing copper-zinc-gold-silver massive sulphide deposits in the Flin Flon-Snow Lake VMS Belt of Manitoba. The Company's VMS project property portfolio consists of the Reed Copper Project, McClarty Lake Project, Sails Lake Project, Puella Bay Project and Morton Lake Project. Outside of the Snow Lake camp, the Company holds massive sulphide prospective properties near the past producing Fox Lake and Ruttan copper-zinc mines, near the communities of Lynn Lake and Leaf Rapids in northern Manitoba. These properties are located in the mining friendly province of Manitoba, Canada. The Company also has optioned three properties in the Sudbury mining camp. They are Terra Incognita, Golden Pine and Black Creek.

VMS Ventures owns approximately 45% of North American Nickel Inc. (TSX VENTURE:NAN). For more information on North American Nickel Inc., please visit www.northamericannickel.com.

ON BEHALF OF THE BOARD OF DIRECTORS

John Roozendaal, President

VMS Ventures Inc.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Old 05-10-2012, 10:44 AM
David123 David123 is offline
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Default VMS (VMS.V) News - Mine Progress & Development

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 10, 2012) - VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS") is pleased to announce an update on the development of the Reed Copper deposit. The Reed Copper deposit is located 120 kilometres from Flin Flon, Manitoba and is the subject of a Joint Venture with Hudbay Minerals (TSX:HBM)(NYSE:HBM) ("Hudbay"). VMS owns 30% of the Reed Joint Venture.

Construction activity on-site at the Reed Copper deposit is advancing on schedule. Initial production is expected by third quarter of 2013, and is anticipated to ramp up to full production of approximately 1,300 tonnes per day by the first quarter of 2014.

The main access road to the project is now complete and clearing and leveling has begun for ore stockpiles, office and storage buildings, and settling ponds.

Grouting is on-going and progressing well in preparation for trenching of the portal entrance. Placement of limestone gravel fill for the warehouse and shop is in progress.

VMS Ventures COO Neil Richardson , states: "We are excited to see the development of the Reed Copper deposit take shape and it remains on schedule for full production. Equipment is on the ground opening up the mine site for surface infrastructure and we are confident that Hudbay will continue to develop Reed on schedule and within budget."

A status report is expected from Hudbay regularly. VMS shareholders will be kept informed throughout the Reed Copper deposit's development.

Details on the NI 43-101 geological resource or the Preliminary Economic Assessment of the Reed Lake Copper deposit are available at www.sedar.com.

Qualified Person

All technical information in this release has been reviewed by Dr. Mark Fedikow , P.Geo, who is the Qualified Person for the Company and Vice President of Exploration and Technical Services, VMS Ventures Inc.

About VMS Ventures Inc.

VMS Ventures Inc. is focused primarily on acquiring, exploring and developing copper-zinc-gold-silver massive sulphide deposits in the Flin Flon-Snow Lake VMS Belt of Manitoba. The Company's VMS project property portfolio consists of the Reed Lake Project, Copper Project, McClarty Lake Project, Sails Lake Project, Puella Bay Project and Morton Lake Project. Outside of the Snow Lake camp, the Company holds massive sulphide prospective properties near the past producing Fox Lake and Ruttan copper-zinc mines, near the communities of Lynn Lake and Leaf Rapids in northern Manitoba. These properties are located in the mining friendly province of Manitoba, Canada. The Company also has optioned three properties in the Sudbury mining camp. They are Terra Incognita, Golden Pine and Black Creek.

Forward-Looking Statements

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. VMS Ventures Inc. undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

ON BEHALF OF THE BOARD OF DIRECTORS

John Roozendaal , B.Sc., President

VMS Ventures Inc.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact: Evan Sleeman
Company Name: VMS Ventures Inc.
Contact Title: Director
Phone: (604) 986-2020 or Toll Free: 1-866-816-0118
Other1: www.vmsventures.com
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  #4  
Old 05-24-2012, 10:08 PM
David123 David123 is offline
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Default VMS Files Prefeasiblity Report with Hud Bay

VMS Files Prefeasibility Study for the Reed Lake Deposit, Near Snow Lake, Manitoba

05/16/2012

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 16, 2012) - VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS") is pleased to announce the Prefeasibility Study of the Reed Lake polymetallic deposit near Snow Lake, Manitoba with Joint Venture partner Hudbay Minerals Inc. (TSX:HBM)(NYSE:HBM) is available for viewing on www.sedar.com.



Reed Copper Deposit Mineral Reserves1 - March 30, 2012




Category

Tonnes

Au (g/t)

Ag (g/t)

Cu (%)

Zn (%)



Probable

2,157,000

0.48

6.02

3.83

0.59



1Shown as 100% of the mineral reserves; VMS has a 30% interest in the Reed Copper project joint venture


The pre-feasibility study prepared by Hudbay and Stantec in respect of the Reed deposit demonstrates that the indicated resources can be converted to reserves and economically viable for extraction by long-hole open stoping at a rate of 1300 TPD.

Reed Copper Project Assumptions and Qualifications

Production at Reed is scheduled to begin at the 260 metre level from Zones 10 and 20 and in Zone 30 from the 135 metre level. Mining is expected to finish in Zone 30 from the 85 metre level, in Zone 20 from the 110 metre level and in Zone 10 on the 285 metre level.

Run of mine ore will be transported by truck directly to Flin Flon where it will be crushed to less than 150 millimeters. The Reed ore will be batched independently through the Flin Flon concentrator with assumed metal recoveries of 94% copper, 58% gold and 62% silver producing a copper concentrate.

Access to the underground mineral resources will be via a trench, portal and decline located near the center of the surface site. The decline will be excavated 6 metres wide and 5 metres high to a depth of 510 metres from surface and be able to accommodate a 60 tonne truck. Ore and development waste will be hauled to surface via the decline. Each mining level, spaced 25 metres vertically, will be accessed from the decline and will be 5.5 metres wide by 4.5 metres high to accommodate a 10 yard load, haul and dump scooptram.

The project will be powered by diesel generators and power distributed to surface buildings and underground.

Stantec provided capital estimates for: surface infrastructure, underground dewatering, indirect costs (contractor, construction management). Hudbay provided capital estimates for underground development and construction, mine equipment, all other indirect costs, operating costs, sustaining capital, production schedule and metal price forecast.

Qualified Person

Neil W. Richardson, P.Geo, Chief Operating Officer of VMS Ventures Inc., a Qualified Person in accordance of Canadian Regulatory requirements as set out in NI 43-101, is responsible for the information in this release.

About VMS Ventures Inc.

VMS Ventures Inc. is focused primarily on acquiring, exploring and developing copper-zinc-gold-silver massive sulphide deposits in the Flin Flon-Snow Lake VMS Belt of Manitoba. The Company's VMS project property portfolio consists of the Reed Lake Project, Copper Project, McClarty Lake Project, Sails Lake Project, Puella Bay Project and Morton Lake Project. Outside of the Snow Lake camp, the Company holds massive sulphide prospective properties near the past producing Fox Lake and Ruttan copper-zinc mines, near the communities of Lynn Lake and Leaf Rapids in northern Manitoba. These properties are located in the mining friendly province of Manitoba, Canada. The Company also has optioned three properties in the Sudbury mining camp. They are Terra Incognita, Golden Pine and Black Creek.

Forward Looking Statement

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. VMS Ventures Inc. undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

ON BEHALF OF THE BOARD OF DIRECTORS

John Roozendaal, B.Sc., President

VMS Ventures Inc.


Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact: Evan Sleeman
Company Name: VMS Ventures Inc.
Contact Title: Director
Phone: (604) 986-2020 or Toll Free: 1-866-816-0118
Other1: www.vmsventures.com
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  #5  
Old 06-07-2012, 12:16 PM
David123 David123 is offline
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Default VMS.V - Metals News Article

fyi,

http://www.metalsnews.com/Metals+News/MetalsNews/Allen+Alper/FEATURED596276/VMS+Ventures+Inc+(TSXVVMS)+WellFinanced+to+Weather +Market+ups+and+downs.htm
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Old 06-21-2012, 10:12 AM
David123 David123 is offline
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Default VMS Ventures - News Acquires Land Next to Reed Mine

VMS ACQUIRES LARGE LAND PACKAGE ADJACENT TO THE REED COPPER MINE PROPERTY, SNOW LAKE MANITOBA


Vancouver, B.C., June 21, 2012. VMS Ventures Inc. (TSX-V:VMS) (“VMS” or the “Company”) is pleased to announce the acquisition of a land package comprising two separate groups of claims from Mantis Mineral Corp. (“Mantis”-CNSX: MYN). The new claims cover a prospective sequence of rocks over an area of 38.70 square kilometres. The claim groups are situated immediately to the east and west of the VMS/HudBay JV/Optioned claims where mine construction on the high grade Reed Copper Deposit has begun. The claim blocks will be called Reed East & Reed West and are owned 100% by the Company.

Neil Richardson, COO states: “We are very pleased to have acquired the Reed East and Reed West ground. It covers the same volcanic rocks that host VMS’ Reed discovery, our HudBay JV and Option properties and the Morton Lake, 9-7, and Cowan River projects. Exploration work undertaken to date, includes a VTEM airborne geophysical survey over the property that has produced several targets of interest. VMS will complete its review and follow up prospective anomalies with geophysical and geochemical surveying to assist us in confirming and prioritizing drill targets. We anticipate drill testing targets on this property in the upcoming winter drill season.”

Reed East and Reed West cover the same favorable Four Mile Island volcanic rock package that hosts the Reed Copper deposit and other deposits in this part of the Flin Flon – Snow Lake Camp such as the Dickstone and Spruce Point Mines. A Geotech VTEM survey undertaken by the vendor has established target areas, so VMS considers this to be a grassroots project in a brown-field environment.

Under the terms of the Purchase Agreement, VMS will acquire the claims outright, subject to an underlying royalty agreement, for a one time issuance of 500,000 common shares of the Company. These shares will be restricted for a period of four months from the date of issuance. The Purchase Agreement remains subject to the approval of the TSX Venture Exchange.





http://tmx.quotemedia.com/article.ph...&qm_symbol=VMS
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Old 07-19-2012, 12:45 PM
David123 David123 is offline
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Default News - Reed Mine Progress & Update

VMS VENTURES UPDATES PROGRESS AT THE REED COPPER PROJECT NEAR SNOW LAKE, MANITOBA

Vancouver, B.C., July 19, 2012 - VMS Ventures Inc. (VMS: TSX-V) (“VMS”) is pleased to update shareholders on the ongoing developments at the Reed copper project. The Reed project is located 120 kilometres from Flin Flon, Manitoba and is the subject of a joint venture with Hudbay Minerals (TSX, NYSE:HBM) (“Hudbay”), which operates the project and has a 70% ownership interest while VMS owns the remaining 30%.

Construction activity on-site at the Reed copper project is advancing on schedule and highlights since the last update in May include:

• 84% of the grouting for the portal entrance area is now complete and this phase of the program is expected to be finished within the next week.
• Portal trench excavation has commenced with the first three metres of overburden now removed.
• Materials and equipment from the Trout Lake mine have begun arriving at the property.


VMS Ventures Chief Operating Officer Neil Richardson, states: “The progress report at our latest Joint Venture management meeting was encouraging and we are pleased with the progress our partners at Hudbay Minerals are making in the development of the Reed Copper project. The grouting program is almost complete and we expect to commence trenching the portal area later this month.”

In the previous project update dated May 10, 2011, it was reported that the main access road to the project was completed and clearing and leveling had begun for ore stockpiles, office and storage buildings, and settling ponds. Placement of limestone gravel fill for the warehouse and shop was in progress.

Initial production at the Reed copper project is expected by fourth quarter of 2013, and is anticipated to ramp up to full production of approximately 1,300 tonnes per day by the first quarter of 2014.

Hudbay provides a monthly status report to VMS and our shareholders will be kept informed throughout Reed’s development.

Further details of the Reed Copper deposit can be found in the National Instrument 43-101 Technical Report entitled “Pre-Feasibility Study Technical Report on the Reed Copper Deposit, Central Manitoba, Canada” dated April 2, 2012, available at www.sedar.com.



About VMS Ventures Inc. www.vmsventures.com


VMS Ventures Inc. is focused primarily on acquiring, exploring and developing copper-zinc-gold-silver massive sulphide deposits in the Flin Flon-Snow Lake VMS Belt of Manitoba. The Company’s VMS project property portfolio consists of the Reed Lake Project, Reed East/West Project, Copper Project, McClarty Lake Project, Sails Lake Project, Puella Bay Project and Morton Lake Project. Outside of the Snow Lake camp, the Company holds massive sulphide prospective properties near the past producing Fox Lake and Ruttan copper-zinc mines, near the communities of Lynn Lake and Leaf Rapids in northern Manitoba. These properties are located in the mining friendly province of Manitoba, Canada. The Company also has optioned three properties in the Sudbury mining camp. They are Terra Incognita, Golden Pine and Black Creek.

VMS Ventures owns approximately 26M shares of North American Nickel Inc. (TSX VENTURE: NAN). For more information on North American Nickel Inc., please visit www.northamericannickel.com.




Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Old 08-14-2012, 06:39 PM
David123 David123 is offline
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Default NEWS: HudBay & VMS Open Reed Copper Mine

VMS Ventures Inc. and Hudbay Break Ground at New Copper Mine in Manitoba


Vancouver, B.C., August 14, 2012 - VMS Ventures Inc. (VMS: TSX-V) (“VMS”) and its joint venture partner, Hudbay Minerals Inc. (TSX:HBM) (NYSE:HBM) (“Hudbay”) will be hosting a groundbreaking ceremony today at its Reed Lake property in Flin Flon, Manitoba, signaling their commitment to the new copper mine.

Dave Chomiak, Minister of Innovation, Energy and Mines, David Garofalo, President and CEO of Hudbay, and Rick Mark, CEO of VMS Ventures will be attending and are scheduled to speak at today’s ceremony.

“We are delighted to be a part of today’s Reed Copper Mine opening ceremony. Reed has advanced towards production very quickly. We made the discovery in 2007 and signed a Joint Venture with Hudbay on July 5, 2010,” said Rick Mark, VMS’ chief executive officer and chairman. “HudBay is on schedule and on budget and VMS is pleased to be working with such an experienced partner.”

Mining at the Reed copper project is expected to begin by Q4 2013, and is anticipated to ramp up to full production of approximately 1,300 tonnes per day by Q1 2014.

VMS Ventures announced a high-grade copper discovery at Reed grading 10.50 m of 11.19% copper within 43.05 m of 4.38% copper on October 4, 2007 (http://vmsventures.com/Newsroom/Pres...a/default.aspx) .

About VMS Ventures Inc.

VMS Ventures Inc. is focused primarily on acquiring, exploring and developing copper-zinc-gold-silver massive sulphide deposits in the Flin Flon-Snow Lake VMS Belt of Manitoba. The Company’s VMS project property portfolio consists of the Reed Copper Project, Reed East/West Project, McClarty Lake Project, Sails Lake Project, Puella Bay Project and Morton Lake Project. Outside of the Snow Lake camp, the Company holds massive sulphide prospective properties near the past producing Fox Lake and Ruttan copper-zinc mines, near the communities of Lynn Lake and Leaf Rapids in northern Manitoba. These properties are located in the mining friendly province of Manitoba, Canada. The Company also has optioned three properties in the Sudbury mining camp. They are Terra Incognita, Golden Pine and Black Creek.

VMS Ventures owns approximately 26M shares of North American Nickel Inc. (TSX VENTURE:NAN). For more information on North American Nickel Inc., please visit www.northamericannickel.com.


About Hudbay

Hudbay (TSX, NYSE: HBM) is a Canadian integrated mining company with assets in North and South America principally focused on the discovery, production and marketing of base and precious metals. Hudbay's objective is to maximize shareholder value through efficient operations, organic growth and accretive acquisitions, while maintaining its financial strength. A member of the S&P/TSX Composite Index and the S&P/TSX Global Mining Index, Hudbay is committed to high standards of corporate governance and sustainability. Further information about Hudbay can be found on www.hudbayminerals.com.

Forward Looking Statement

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and
resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various risks. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future
events may differ materially from those anticipated in such statements. VMS Ventures Inc. undertakes no obligation to update such forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.


ON BEHALF OF THE BOARD OF DIRECTORS

John Roozendaal, B.Sc.
President
VMS Ventures Inc.

For further information contact:

Evan Sleeman, Director
Telephone: (604) 986-2020
Toll Free: 1-866-816-0118

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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  #9  
Old 09-13-2012, 12:24 PM
David123 David123 is offline
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Default VMS & HudBay - News - Reed Copper Mine

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 13, 2012) - VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS") is pleased to provide an update on the Reed Copper Project near Flin Flon, Manitoba. VMS owns 30% of the project and its joint venture partner, Hudbay Minerals Inc. (TSX:HBM)(NYSE:HBM) ("Hudbay") owns 70%.

Development activities continue to be on-track and on budget. The trench excavation is complete and ground supporting of the walls is underway with the first development round at the portal expected before the end of September. Grouting of the portal, ventilation raise and escape raise areas is all complete. Office and dry facilities are assembled and water, power and sewage services will be completed this month. The shop and warehouse building is scheduled for completion in December.

VMS Ventures COO Neil Richardson, states: "The Reed Copper Project is going very well. We expect to be at the 60 metre level before winter. Hudbay crews and contactors continue to do an excellent job in getting this deposit to the mining stage and we look forward to seeing the operation advance towards full production."

Mining at the Reed Copper Project is expected to begin by Q4 2013, and is anticipated to ramp up to full production of approximately 1,300 tonnes per day by Q1 2014.

VMS Ventures announced a high-grade copper discovery at Reed grading 10.50 m of 11.19% copper within 43.05 m of 4.38% copper on October 4, 2007 (http://vmsventures.com/Newsroom/Pres.../default.aspx).

About VMS Ventures Inc.

VMS Ventures Inc. is focused primarily on acquiring, exploring and developing copper-zinc-gold-silver massive sulphide deposits in the Flin Flon-Snow Lake VMS Belt of Manitoba. The Company's VMS project property portfolio consists of the Reed Copper Project, Reed East/West Project, McClarty Lake Project, Sails Lake Project, Puella Bay Project and Morton Lake Project. Outside of the Snow Lake camp, the Company holds massive sulphide prospective properties near the past producing Fox Lake and Ruttan copper-zinc mines, near the communities of Lynn Lake and Leaf Rapids in northern Manitoba. These properties are located in the mining friendly province of Manitoba, Canada. The Company also has optioned three properties in the Sudbury mining camp. They are Terra Incognita, Golden Pine and Black Creek.

VMS Ventures owns approximately 27M shares of North American Nickel Inc. (TSX VENTURE:NAN). For more information on North American Nickel Inc., please visit www.northamericannickel.com.

About Hudbay

Hudbay (TSX:HBM)(NYSE:HBM) is a Canadian integrated mining company with assets in North and South America principally focused on the discovery, production and marketing of base and precious metals. Hudbay's objective is to maximize shareholder value through efficient operations, organic growth and accretive acquisitions, while maintaining its financial strength. A member of the S&P/TSX Composite Index and the S&P/TSX Global Mining Index, Hudbay is committed to high standards of corporate governance and sustainability. Further information about Hudbay can be found on www.hudbayminerals.com.

Forward Looking Statement

Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward-looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. VMS Ventures Inc. undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.

ON BEHALF OF THE BOARD OF DIRECTORS
John Roozendaal, B.Sc., President
VMS Ventures Inc.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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  #10  
Old 09-18-2012, 04:29 PM
David123 David123 is offline
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Default VMS Ventures - News - trenches 12gm gold

VMS Ventures Announces Trenching Results and Surface TDEM Survey on Its Sudbury Properties

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 18, 2012) - VMS Ventures Inc. (TSX VENTURE:VMS) ("VMS" or the "Company") is pleased to announce the results of a surface time-domain electromagnetic (TDEM) survey on its 100% owned Terra Incognita project and the first phase of trenching on its 100% owned Golden Pine project. Both projects are located north of the Sudbury basin and approximately 40 kilometres northeast of Sudbury, Ontario.

Neil Richardson, COO states: "We are pleased with the TDEM survey over the Terra Incognita project, which has provided at least three significant targets for our planned 2013 winter drilling program. As well, the first phase of our trenching program at Golden Pine shows that the MMI soil geochemistry survey is outlining bedrock-hosted gold mineralization, which we will now follow-up with trenching and channel sampling."

The surface time-domain electromagnetic survey at Terra Incognita completed late last winter has now been incorporated into the company's GIS database ( Image 1: http://media3.marketwire.com/docs/VMSimage1.pdf ).

The TDEM survey was completed by Crone Geophysics Ltd. of Mississauga, Ontario on a grid cut by a crew from the Wahnapitae First Nations. The survey covered approximately 20 line kilometres with station readings taken every 25 metres and line spacing of 100 metres. Six TDEM anomalies were outlined from this survey, with three ranked as high priority targets. Two of the high priority targets have coincident Mobile Metal Ion (MMI) geochemical anomalies and VLF geophysical conductor anomalies. Drilling is planned to test these targets in the upcoming 2013 winter drilling program.

The first phase of trenching has been completed on the Golden Pine project where two separate areas were mechanically stripped to expose the bedrock; a total area of 400m2 was excavated. These trenches focused on a coincident Induced Polarization geophysical anomaly and a Mobile Metal Ion geochemical anomaly over an inferred contact between granite and intermediate volcanic rocks. A second trench focused on a MMI anomaly near historical zone B. Results from the first phase of channel sampling yielded assay results of up to 12.00 g/t gold over 0.50 metres. Two continuous samples averaged 11.68 g/t gold over 1.00 metre in an intermediate volcanic rock in the first trench area (Image 2: http://media3.marketwire.com/docs/VMSimage2.pdf).

About VMS Ventures Inc:

VMS Ventures Inc. is focused primarily on acquiring, exploring and developing copper-zinc-gold-silver massive sulphide deposits in the Flin Flon-Snow Lake VMS Belt of Manitoba. The Company's VMS project property portfolio consists of the Reed Lake Mine, which is subject to a 70-30 JV with HudBay Minerals and is scheduled for production in Q3- 2013, Copper Project, McClarty Lake Project, Sails Lake Project, Puella Bay Project and Morton Lake Project. Outside of the Snow Lake camp, the Company holds massive sulphide prospective properties near the past producing Fox Lake and Ruttan copper-zinc mines, near the communities of Lynn Lake and Leaf Rapids in northern Manitoba. These properties are located in the mining friendly province of Manitoba, Canada. The Company also has optioned three properties in the Sudbury mining camp. They are Terra Incognita, Golden Pine and Black Creek.

VMS Ventures owns approximately 27M shares of North American Nickel Inc. (TSX VENTURE:NAN).

For more information on North American Nickel Inc., please visit www.northamericannickel.com.
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