North Thunder Bay Mining Co. Ltd.
North Thunder Bay Mining Co. Ltd.: North Thunder Bay Mining Optimistic Based on Record Breaking Prices of Gold and Copper
North Thunder Bay Mining Co. Ltd. / Key word(s): Miscellaneous North Thunder Bay Mining Optimistic Based on Record Breaking Prices of Gold and Copper Toronto, Canada – (For immediate release) – March 3, 2011 North Thunder Bay Mining Co. Deutsche Börse symbol: 84N (www.norththunderbay.com), is expecting to see continued upward pressure on the price of copper and gold. Both Copper and gold have been reaching record high prices, further improving the economic feasibility of bringing its Lubo-Boneng prospect back into production. Gold reached an all time high of $1,434 per oz this week, and some experts are advising there is still significant upside potential for these prices to escalate further. Amid fears of turmoil in Libya, the Middle East and North Africa and soaring oil prices, investors are looking for a safe haven to protect their wealth. Once again, China seems to be a key factor driving the price of gold up, as the Country celebrates national holidays and as the wedding season begins, all of which are associated with gift giving – and gold products are the gift of choice. Additionally, Chinese investors are buying into the idea that gold has plenty more upside potential, even at the current elevated rates. Experts say the continual decline of your US dollar has triggered investors to choose risk-free haven goods such as gold and silver precious metals. And with higher consumption and purchasing demand, gold prices and silver prices will continue to go up. One expert has advised that he expects the price to rise for the remainder of the year, and reach as much as $1,900 per oz. by years-end. At the same time, copper is also reaching all time record highs, but for very different reasons. China is once again a leading factor, as demand remains strong for construction and electronics continues even in the face of recent Chinese economic policies to slow down the pace of growth and keep inflation under control. The Lubo-Boneng project is a past producer of copper, gold and silver. The plant produced 65,230 tonnes of copper, 3.70 tonnes of gold, and 1,507 tonnes of silver contained in concentrates, in the 1970s through to the early 1980s. The reason for closure came as a result of very weak metal prices encountered in the 1980s. However, with prices of these metals hitting historic highs, the economic viability of the mine is extremely promising once again. Disclaimer & Safe Harbor Statement: This release may contain certain ‘forward-looking statements’ with respect to certain of North Thunder Bay Mining Co.’s plans, goals and expectations regarding its future financial condition, performance, results, strategy and objectives. Words such as ‘anticipates’, ‘expects’, ‘intends’, ‘plans’, ‘believes’, ‘seeks’, ‘estimates’, ‘may’, ‘could’, ‘would’, ‘might’, ‘will’ and variations of these words or similar expressions are intended to identify forward-looking statements. In addition, any statements that refer to expectations, beliefs, plans, projections, objections, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements in this press release are not promises or guarantees of future performance and are subject to risks and uncertainties that could cause North Thunder Bay Mining Co.’s actual results to differ materially from those anticipated. North Thunder Bay Mining Co. cautions the reader not to place undue reliance upon any such forward-looking statements. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed herein as well as the following: (i) domestic and global economic and business conditions; (ii) market related risks and the performance of financial markets generally; (iii) the policies and actions of regulatory authorities; (iv) the impact of competitive factors; (v) risks and uncertainties associated with future acquisitions or combinations within relevant industries; and (vi) changes in capital, solvency or accounting standards as well as tax and other relevant legislation or regulations in the jurisdictions in which North Thunder Bay Mining Co. operates. The actual results that North Thunder Bay Mining Co. achieves may differ materially from any forward-looking statements which are based on management’s beliefs and opinions at the time the statements are made. North Thunder Bay Mining Co. does not undertake any obligation to update forward-looking statements should circumstances or management’s beliefs or opinions change.
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