Jul. 8, 2010 (Canada NewsWire Group) --
(PRZCF.OTCBB)(PH0.FRANKFURT)(TSXV.PHE)PETRO HORIZON ENERGY CORP. (TSXV.PHE), is pleased to announce the commencement of an exploration program following up tellurium soil anomalies discovered in 2009. The program will consist of detailed soil sampling, geological mapping, prospecting and rock sampling to further define these anomalies. As previously announced the Company has signed a letter of intent on this property.
Tellurium is one of the rarest stable solid elements in the earth crust and is sometimes associated with gold, as well as a by product of copper refining. Tellurium is mainly used as an alloying additive in steel. One of the Key and relatively new applications is in the production of solar panels.
Petro Horizon Energy Corp. has granted options to buy 335,000 shares total to certain officers, consultants and directors of Petro Horizon Energy Corp. The options shall be exercisable at a price of
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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.
Forward-looking statements relating to future events or future performance and reflecting Petro Horizon's management's expectations or beliefs regarding future events include, but are not limited to, statements with respect to completion of the private placement and related matters. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative of these terms or comparable terminology. By nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Petro Horizon to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results of current exploration activities; changes in project parameters as plans continue to be refined; future prices of resources; possible variations in ore reserves, grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing or in the completion of development or construction activities; as well as those factors detailed from time to time in Petro Horizon's interim and annual financial statements and management's discussion and analysis of those statements, all of which are filed and available for review on SEDAR at www.sedar.com. Although Petro Horizon has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.Accordingly, readers should not place undue reliance on forward looking statements.
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