Business
Comfort Letter Received for Coal Permit Applications
Comfort Letter Received for Coal Permit Applications
About this update from Saturn Oil & Gas Inc.
[{"type":"text","content":"Comfort Letter Received for Coal Permit Applications\n\n\n\nComfort Letter Received for Coal Permit Applications\n\nVancouver, British Columbia CANADA, May 28, 2008 /FSC/ - Saturn Minerals Inc. (SMI - TSX Venture), are pleased to announce that a ?Letter of Comfort? has been received from the Saskatchewan Ministry of Energy and Resources in regard to coal permit applications submitted on behalf of the Companies.\n\nFurther to news releases issued by Saturn and Swift on May 1, 2008, the Companies wish to update their activities in the area of Goldsource Mines Inc. recent coal discovery in East-Central Saskatchewan.\n\nArea & Location Applied For\n\nBetween April 28th and May 2nd the Companies submitted 165 coal permit applications totalling 125,952 hectares (1,259.52 sq. km.). The location of the coal permit applications are adjacent to, partially surrounding, and in proximity to the coal discovery made by Goldsource Mines Inc (Goldsource Mines Inc. news releases, April 22 and 28). The area of Saturn and Swift?s applications were selected to coincide with mapped subcrop of the Mannville Group sediments at shallow depth, relatively thin overburden of Quaternary deposits, structurally-controlled potentially sub-basin forming geological features, and road and/or railroad access.\n\nIn addition to the above noted applications, Saturn & Swift also wish to announce that based on an assessment of the area by geological personnel additional applications were submitted on May 14th and 15th covering a total of 50,444 hectares in east central Saskatchewan. These applications are still in the regulatory process and no ?Comfort Letter? has yet been received by Saturn and Swift for these applications.\n\nStatus of Applications\n\nThe ?Comfort Letter? received from the Saskatchewan Ministry of Energy and Resources pertains to the applications submitted on behalf of Saturn and Swift between April 28th and May 2nd. The ?Comfort Letter? includes a list of dispositions applied for, the dates of the submissions, land description, boundary plan, affirmation of fee payment and first year rent, the allocated Coal Prospecting Permit (CPP) numbers, and if the submission has priority over other applications.\n\nThe ?Comfort Letter? confirms that a majority of permits applied for are ?first in line? and will be given priority sequence.\n\nThe final granting...