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Century Iron, Shoreline, Microbix news briefs

Contributed by eResearch

Century Iron has published a summary of its 2012 exploration program and mineral resource estimates. This included drilling results from the Joyce Lake direct shipping ore (DSO) deposit at the Attikamagen project (Quebec/Newfoundland & Labrador); the Rainy Lake (“Full Moon”) iron deposit at Sunny Lake (Quebec).; and the Duncan Lake property (Quebec). In 2012, Century Iron announced initial mineral resource estimates on its Hayot Lake (Attikamagen) and Rainy Lake projects, and an updated mineral resource estimate for Duncan Lake.

Century Iron has filed on SEDAR its consolidated financial statements for its third fiscal quarter (ended December 31, 2012), and the related MD&A. The Company and its joint venture had, as at December 31, 2012, cash and cash equivalents of approximately $44 million. At the same date, the Company had exploration and evaluation assets of $46.7 million, and an investment in the Attikamagen joint venture of $59.3 million.

Shoreline has published an operational update, including results of its Peace River Arch (Western Canadian Sedimentary Basin) drilling program. The Company is in negotiations to increase its land holdings in this area, in order to expand its inventory of potential drilling locations.

Shoreline has entered into an engagement for a private placement of up to 1,428,571 common shares at a subscription price of $3.50 per common share, for gross proceeds of up to about $5 million.

Microbix has reported Q1/F2013 results, and has provided an update on its product pipeline - namely, Kinlytic™ (Urokinase), VIRUSMAX™, and LumiSort™. A joint project team from Microbix and partner Zydus Cadila will be meeting with the FDA in autumn 2013 to present a plan for returning the blood clot-busting drug Kinlytic™ to the U.S. market. Discussions continue with potential investors interested in locating Microbix’ VIRUSMAX™-based influenza vaccine manufacturing facility in a new country and region of the world. The Company is working to partner the next phase of the LumiSort™ (livestock sex selection technology) development program by building on the initial funding commitments already received.