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Coltstar Encouraged by Mackenzie Pipeline Decision
Coltstar Encouraged by Mackenzie Pipeline Decision
About this update from Metallis Resources Inc.
[{"type":"text","content":"\nColtstar Encouraged by Mackenzie Pipeline Decision\n\n\n Dec. 17, 2010 (Filing Services Canada) -- Coltstar Ventures Inc.  (CTR - TSX Venture), (\"Coltstar\") notes yesterday's conditional approval of the Mackenzie Valley natural gas pipeline project by the National Energy Board of Canada.  This positive decision, combined with ArcelorMittal's successful bid for Baffinland Iron Mines Corporation, shows that Canada's northern resources are an important part of the global resource sector.  Coltstar's BIGiron and BIGcopper project are in close proximity to the proposed Mackenzie pipeline route, estimated to cost over $16 billion to construct.  The pipeline could provide both logistics support and an energy source to projects near the corridor.  ArcelorMittal has bid $433 million for Baffinland, whose sole project is the Mary River iron deposit, located on Baffin Island, in Nunavut Territory, Canada.  A competing bid for Baffinland was increased December 16, to an equivalent $531 million on a whole-company basis.Damien Reynolds, Chairman, President and CEO noted, \"Such significant activity reinforces Coltstar's belief in the incredible value of Northern Canadian resource projects.  We are beginning to explore our iron, copper and lead-zinc projects at the same time that major investors such as Imperial Oil and ArcelorMittal are re-affirming the attractiveness of the region.  We look forward to working closely with local communities and governments in order to develop our projects for the benefit of both the North and our shareholders.\"About ColtstarColtstar Ventures Inc. is a mineral exploration company that is currently exploring for precious metals and iron in Europe and Canada. On behalf of the Board of Directors\"Damien Reynolds\"Chairman, President and CEO of Coltstar Ventures Inc.For further information please contact:\tGarry Stock\tTelephone:  (604) 683-8236Neither 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.Coltstar Ventures Inc.Suite 1680, 200 Burrard StreetVancouver, BCCanada V6C 3L6Source: Coltstar Ventures Inc. (TSXV - CTR)Maximum News Dissemination by Filing Services Canada Inc....