Coronation Minerals Provides Strategy Update

About this update from Gpm Metals Inc.

[{"type":"text","content":"\n\n\n\nTORONTO, June 18 /CNW/ - Coronation Minerals Inc. (TSX-V: CMV)\n("Coronation" or the "Corporation") is pleased to announce that it has adopted\na new corporate strategy focusing upon the potential acquisition of early\nstage properties which are prospective for mineralization in Guyana, South\nAmerica, and surrounding regions. The Corporation will consider acquiring\nproperties that it considers prospective based on criteria such as the\nexploration history of the properties, the location of the properties, or a\ncombination of these and other relevant factors. This proposed strategy\ninvolves the potential for growth through the acquisition of additional\nproperty interests coupled with the implementation of recommended programs\nwith respect to such properties, all while leveraging the experience of its\nmanagement team in acquiring, exploring and developing properties in the\ntargeted regions of South America. In the event that the Corporation is\nsuccessful in identifying and acquiring additional interests in such mineral\nproperties in the future, it is anticipated that there will be a greater\nemphasis placed on the exploration of such interests, with the long-term goal\nof developing the properties and achieving production.\n\n\nGuyana Goldfields Inc. (TSX: GUY) ("GGI") owns 17,113,500 common shares\nof Coronation, (representing approximately 17% of all issued and outstanding\nshares of Coronation as of June 18, 2009) and has agreed to provide\nestablished logistical and geological support to Coronation in connection with\nCoronation's new strategic direction. GGI and Coronation have signed an "Area\nof Influence" agreement which restricts Coronation from participating in\nproperty acquisition and development within a defined area of GGI's\nexploration and development activities in Guyana. In addition, GGI will have a\n"Right of First Opportunity" to acquire advanced stage properties in which\nthere is a defined resource.\n\n\nIn connection with the above-noted strategy, shareholders will be invited\nat the upcoming annual and special shareholders meeting of the Corporation\nscheduled to be held on June 18, 2009, to consider and, if thought fit,\napprove the change of name of the Corporation to "Guyana Precious Metals\nInc.", which management believes bet...

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