Business
Joint Press Release - Coronation Minerals Inc./Guyana Goldfields Inc. acquisition of remaining 50% of Coppermine River Project
TORONTO, Aug. 29 /CNW/ - Coronation Minerals Inc. (TSX-V: CMV) ("Coronation") and Guyana Goldfiel...
About this update from Gpm Metals Inc.
[{"type":"text","content":"\n\n\n\nTORONTO, Aug. 29 /CNW/ - Coronation Minerals Inc. (TSX-V: CMV)\n("Coronation") and Guyana Goldfields Inc. (TSX: GUY) ("Guyana") are pleased to\nannounce that Coronation has received the approval of the TSX Venture Exchange\nto complete the acquisition of the remaining 50% interest of the Coppermine\nRiver Project (the "Coppermine Agreement") from Coppercorp Inc. ("CCI"), a\nwholly owned subsidiary of Guyana. Coronation acquired its initial 50% in the\nCoppermine River Project in 2002. Terms of the Coppermine Agreement require\nCoronation to: (i) issue 5,000,000 common shares to CCI; (ii) grant to CCI a\n1.5% net smelter return royalty over the unpatented claims comprising the\nCoppermine River Project; and (iii) grant to CCI a right of first refusal to\nparticipate in future financings of Coronation. It is anticipated that the\nclosing of the transactions contemplated by the Coppermine Agreement and the\nissuance of the 5,000,000 common shares is expected to occur in late September\n2008. Further details in respect of this transaction were disclosed in a joint\npress release issued by Coronation and Guyana on June 26, 2008.\n\n\nAbout Coronation Minerals Inc.\n\n\nCoronation Minerals Inc. is a Canadian based resource company whose focus\nis to explore for and develop mineral deposits throughout the Coronation Gulf\nRegion, Nunavut Territory, Canada and on the Wellgreen Property in the Yukon\nTerritory, Canada.\n\n\nAbout Guyana Goldfields Inc.\n\n\nGuyana Goldfields Inc. is a Canadian based mineral exploration company\nprimarily focused on the exploration and development of gold deposits in the\nGuiana Shield of South America. The Guiana Shield is in the northern part of\nthe Amazon Craton and covers parts of Guyana, Venezuela, Suriname, French\nGuyana and northern Brazil. Guyana holds advanced exploration projects in\nvarious stages of development and has been operating in Guyana continuously\nsince 1996.\n\n\nAdditional Information\n\n\nInformation is available on Guyana's website at www.guygold.com and on\nwww.sedar.com, and through Guyana's offices by contacting:\n\n\nJ. Patrick Sheridan, President and Chief Executive Officer\n141 Adelaide Street West, Suite 1205\nToronto, ON M5H 3L5\nTel: (416) 628-5936\nFax: (416) 628-5935\nE-mail: [email protected]\n\nThe TSX Venture Exc...