TSXV: BOW $0.06  | Gold price: $1,286.60 + 0.70  | Silver Price: $18.09 + 0.03
Bowmore Exploration Ltd. (BOW-TSXV) is a Canadian emerging exploration company focused on the acquisitions, exploration and development of gold mineral properties in Canada and Mexico. Our objective is to position ourselves in proven mineral jurisdictions with favorable geology, friendly regulatory structure and political stability. In mid 2009 the Company development a strategic alliance with Osisko Mining Corporation whereas Osisko acquired approximately 33% of Bowmore Exploration through a private placement and named two of their top executives Mr. Robert Wares and Sean Roosen to the board of directors of Bowmore.
Our goal is to develop underexplored properties, benefit from deal flow generated by our strategic partnership and growth opportunities from grass-root mineral properties.
In June 2009 the Company signed a strategic alliance with Osisko Mining Corporation Ltd., whereas Osisko acquired approximately 33% of Bowmore Exploration through a private placement and named two of their top executives Mr. Robert Wares and Sean Roosen to the board of directors of Bowmore. The parties believe that their strategic alliance should create shareholder value for both Osisko and Bowmore, as Osisko intends to involve Bowmore in exploration projects that would not be suitable for Osisko given its focus on the Canadian Malartic gold deposit, and thereby reduce Osisko's exploration risk, and Bowmore will benefit from deal flow generated by Osisko.
As Osisko's strategic partner in future grass-roots exploration projects, Bowmore will be able to move quickly to evaluate opportunities of merit. This will allow Osisko to participate in grassroots exploration as a significant shareholder. Our goal is to enhance value for our shareholders by providing a solid pathway for the Company's future growth".
Osisko Mining Corporation, a mid-tier gold producer based in Montreal, Quebec, is a mining company focused on acquiring, exploring, developing and mining gold properties. Osisko operates the Canadian Malartic gold mine in Malartic, Quebec, and continues its exploration work on the Hammond Reef Project in Northern Ontario, the Kirkland Lake Project in Northeastern Ontario, as well as other projects elsewhere in Canada and around the world. Osisko has completed its construction of the Canadian Malartic gold mine in the heart of the Abitibi mining district. The first gold bar was poured on April 13 2011, and commercial production began in May 2011. The Canadian Malartic deposit currently represents one of the biggest gold reserves in production in Canada with Proven and Probable Reserves of 10.1 million ounces of gold, and is still growing through ongoing drilling on adjacent mineralized zones.
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