Business
ICS Acquires "Karukuruku Concession"
ABBOTSFORD, BC, March 31 /CNW/ - ICS Copper Systems Ltd (The company or ICS), (ICX:TSX.V) is plea...
About this update from Carlton Precious Inc
[{"type":"text","content":"\n\n\n\nABBOTSFORD, BC, March 31 /CNW/ - ICS Copper Systems Ltd (The company or\nICS), (ICX:TSX.V) is pleased to announce that it has signed a Joint Venture\nAgreement with Cooperative Miniere Maadini Kwa Kilimo (hereinafter referred to\nas "CCMK") to develop the "Karukuruku" concession located in the area of\nKipushi, Haut Katanga, in the Province of Katanga, DRC better described as\nArrete Ministeriel No. 383 CAB.MIN/MINES/01/04 OF 19/06/04.\n\n\nUnder the agreement ICS will earn a 70% equity position in a joint\nventure company to be called ICS Kipushi sprl by paying $80,000 to CCMK as\nfollows:\n\n\na) $10,000 against signature of the contract.\n\nb) $50,000 within 21 days of signature of the contract to allow CCMK to\n obtain a P.R. (Permis de Researche) over the property.\n\nc) $20,000 once it is confirmed that a Permis de Researche has been\n obtained over the "Karukuruku" concession.\n\n\nICS will have the option to increase their equity position from 75% to\n90% in the joint venture company at a future time and date still to be\ndetermined.\n\n\nMr. Graham Chisholm, President & CEO comments, "This adds to our\nportfolio of exploration properties in the DRC which we intend to develop in\nthe future with the assistance of a well funded Joint Venture partner."\n\n\nICS COPPER SYSTEMS LTD.\n\n\nSigned "Graham Chisholm"\n\n\nGraham Chisholm, President & CEO\n\n\nThis release includes certain statements that are "forward-looking\nstatements". All statements in this release, other than statements of\nhistorical facts that address future exploration, development and production\nactivities, and other circumstances, events and developments that the Company\nexpects, are forward-looking statements. Although management believes the\nexpectations expressed in such forward-looking statements are based on\nreasonable assumptions, such statements are not guarantees of future\nperformance, and actual results, events and developments may differ materially\nfrom those in the forward-looking statements. The occurrence of certain risk\nfactors, the probability of which is unknown, may also affect actual results,\nevents and developments expected by the Company.\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\n\n\nresponsibility for the adequacy or accurac...