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Georox Resources Inc. appeals four concession cancellations in Ecuador
NELSON, BC, Nov. 20 /CNW/ - Georox Resources Inc. ("Georox" or the "Company") (GXR:TSX-V; OF6A:FR...
About this update from Prospera Energy Inc.
[{"type":"text","content":"\n\n\n\nNELSON, BC, Nov. 20 /CNW/ - Georox Resources Inc. ("Georox" or the\n"Company") (GXR:TSX-V; OF6A:FRA) announces that on November 18, 2008, the\nCompany received notice from its legal counsel in Ecuador that the Government\nof Ecuador, under the authority of the April 18, 2008 Mining Mandate, has\ncancelled four of the Company's Pangui concessions totaling 16,380.70\nhectares. The Company has instructed its legal counsel to appeal the\nconcession cancellations based upon administrative errors.\n\n\nEcuador's new mining law, now undergoing public review, is expected to be\nestablished in early 2009. It is anticipated the current Mining Moratorium\nwill end at that time.\n\n\nAbout Georox\n\n\nGeorox Resources Inc. is a mineral exploration company engaged in the\nacquisition, development and exploration of mining properties. The Company has\nacquired mining concessions in Ecuador and mining claims in the West Kootenay\nRegion of British Columbia, Canada. The Company trades its common shares on\nthe TSX Venture Exchange under the symbol GXR and on the Frankfurt Stock\nExchange under the symbol OF6A.\n\n\nFor further information you can visit the Company's website at:\nwww.georoxresources.com or view the Company's records on SEDAR at:\nwww.sedar.com\n\n\nCautionary Statement:\n\nThe TSX Venture Exchange has not reviewed, and does not accept\nresponsibility for the adequacy or accuracy of this release.\n\n\nNo stock exchange, securities commission or other regulatory authority\nhas approved nor disapproved the information contained herein. The News\nRelease includes certain "forward looking statements". All statements other\nthan statements of historical fact, included in this release, including,\nwithout limitation, statements regarding potential mineralization and\nreserves, exploration results, and future plans and objectives of the Company,\nare forward looking statements that involve risks and uncertainties. There can\nbe no assurance that such statements will prove to be accurate and actual\nresults and future events could differ materially from those anticipated in\nsuch statements. Important factors that could cause actual results to differ\nmaterially from the Company's expectations are exploration risks detailed from\ntime to time in the filings made by the Company with securities regulat...