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Trading Symbol CIN-TSX.V
VANCOUVER, Oct. 31, 2011 /CNW/ - Canadian International Minerals Inc. (CIN-TSX.V) is pleased to announce that it has optioned its 100% owned Treasure Mountain silver property (TMS) to Canadian Strategic Metals Corp. (CSM). CSM may earn 60% of the TMS property by paying $75,000 and expending $875,000 on exploration over 3 years.
The TMS property directly adjoins the Huldra Silver Inc. (HDA-TSX.V) Treasure Mountain silver, lead, zinc mine on three sides and hosts favourable silver, lead, zinc mineralization in a similar geological setting. HDA is currently preparing the Treasure Mountain Mine for production in early 2012
Current interest is centred on the Cedar Flats area, which was last explored by Noranda in 1980, evaluating known silver, zinc occurrences with copper and gold values 4 km NW of HDA's Treasure Mountain mine. The property also hosts several B.C. Minfile occurrences of silver, lead, zinc, copper, and gold mineralization, and has a history of placer mining.
The Treasure Mountain property comprises 33 claims covering 11439.11 hectares, and is accessed by well maintained forestry and mining roads. The central portion of the property is located approximately 27 km NE of Hope B.C. and 8 km from the Coquihalla Highway in southwestern B.C.
CSM has recently completed 200 line kilometres of airborne magnetic and EM survey, conducted by Fugro Surveys centered on the Cedar Flats area. Final reports are expected before the end of November.
The TMS land position was assembled principally by staking along with the the purchase of small claim holdings from local prospectors with modest cash payments for 100% interest. The claims have been grouped under an area of interest agreement. Through management's ability to generate quality exploration projects, costs to CIN as well as further exploration contributions are nil.
The company continues to capitalize on opportunities to expand its exploration portfolio by staking and private transactions with prospectors, especially in the current market downturn.
A map showing the location and of the claim group can be found on the company's website at http://www.cdnintlminerals.com/i/maps/TM_CLAIMS_111024_a.pdf
The Company also announces that upon the receipt of final reports for the exploration of the Prairie Lake project in Ontario it has relinquished its option and has returned the property to the vendors.
Michael E. Schuss
President and Chief Executive Officer
"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."