Vancouver, BC / TheNewswire / January 11, 2016 - Durango Resources Inc. (the "Company" or "Durango") announced that LNG Canada, a consortium consisting of Shell Canada Energy (TSX-SHC) and affiliates of PetroChina, Korea Gas Corp., and Mitsibishi Corp. have been granted a 40-year export licence to ship up to 38 billion cubic feet of LNG per year as reported on www.globalnews.ca.
The scale of the project is comparable to a recently completed project located in Australia, Curtis Island LNG which can be viewed here http://www.bechtel.com/projects/curtis-island-lng/ which outlines the significant amount of materials required to construct an LNG export facility.
Globalnews.ca also reported that LNG Canada has not yet made a final investment decision about the project and Andy Calitz, CEO of LNG Canada stated, "If the LNG Canada project moves into construction, it will be one of the largest energy infrastructure projects ever built in Canada, and will make an important and lasting contribution to the local, provincial and national economy."
Durango has been in contact with a European LNG group, www.reganosa.com in relation to LNG project discussions and potential collaborations. Additional updates on the Mayner's Fortune and Smith Island Projects are expected in the upcoming weeks.
About the Mayner's Fortune Prospect
The Mayner's Fortune limestone property is located in the Skeena Mining Division approximately 7.5 kilometres south west of Terrace, BC and 4 kilometres west of Lakelse Lake on Lakelse River. The property is located adjacent to the CNR railway line running between Terrace and Kitimat, less than 50 kilometres away from the proposed LNG (liquefied natural gas) site at Kitimat, BC.
About Durango Resources Inc.
Durango is a natural resource company engaged in the acquisition and exploration of mineral properties. In addition to the Mayner's Fortune and Smith Island limestone projects, the Company holds a 100% interest in the Decouverte and Trove gold properties in the Abitibi Region of Quebec, and the Buckshot graphite property near the Miller Graphite mine in Quebec.
For further information on Durango, please refer to SEDAR at www.sedar.com.
Marcy Kiesman, Chief Executive Officer
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs, execution of a definitive agreement, raising of funds, obtaining regulatory approvals and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties relating to Durango, please refer to the Company's prospectus filed on its SEDAR profile at www.sedar.com.
Neither 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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(January 11, 2016 - 12:48 PM EST)
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