Fidelity Minerals (TSXV:FMN)

Fidelity Minerals  has assembled a strong portfolio of high development potential copper/gold porphyry  projects  in Peru and Canada to underpin the development of a successful resource company. Lions Bay owns 50 million shares in FMN or 45 per cent..

Fidelity Minerals Projects include;

A large-scale epithermal Au-Ag system with a  historical resource of 450,000 ozs of gold at the  Las Huaquillas Project in Peru.

• Targeting a  +1 million ounce gold resource expansion at Las Huaquillas down to 400 metres.

Two large porphyry orebodies have been confirmed adjacent to the epithermal resource with ore grade intercepts in the 1990s.

• Very large scale Cu-Au-Ag with Zn-Pb at Sunsets in B.C

FMN is planning to start  a high grade small scale mining from existing underground workings at Las Huaquillas in the next 3 months.

The plan is to reopen all the old exploration adits and drives and prove sufficient ore to support a 350 tonne a day mine and mill.

FMN is planning a placement of ordinary shares over the next 2 months. The funding will support newsflow in the coming months including:

• Test adits for gold assays – previous results were greater than 70g/t
• Mapping and trenching – Peru and BC
• Set up of small scale mining operation