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Saturn Minerals and Swift Resources Receive Additional Comfort Letter for Coal Permit Applications
Saturn Minerals and Swift Resources Receive Additional Comfort Letter for Coal Permit Applications
About this update from Saturn Oil & Gas Inc.
[{"type":"text","content":"Saturn Minerals and Swift Resources Receive Additional Comfort Letter for Coal Permit Applications\n\n\n\nSaturn Minerals and Swift Resources Receive Additional Comfort Letter for Coal Permit Applications\n\nVancouver, British Columbia CANADA, June 25, 2008 /FSC/ - Saturn Minerals Inc. (SMI - TSX Venture), are pleased to announce that a \"Comfort Letter\" has been received from the Saskatchewan Ministry of Energy and Resources in regard to 59 coal permit applications submitted on behalf of the Companies on May 14th and May 15th covering a total of 44,544 hectares of which 43,776 hectares have been given \"priority status\" (58 of 59 applications). With the receipt of this \"Comfort Letter\" the total area of coal dispositions applied for by Saturn & Swift for which \"Comfort Letters\" have been received is 170,496 hectares (1,704.96 sq. km.)\n\n\"Comfort Letters\" include a list of dispositions applied for, the dates of the submissions, land descriptions, boundary plans, affirmation of fee payments and first year rent, the allocated Coal Prospecting Permit (CPP) numbers, and whether the submissions have priority over other applications. The \"Comfort Letter\" confirms that a majority of permits applied for are \"first in line\" and will be given priority sequence. The final granting of the coal permits is dependent upon government regulatory approval and time required to process the applications, which is at the discretion of the Government of Saskatchewan. Granting of coal permits is subject to a final review of \"each application indicating the nature of the work and money to be expended\". The \"Comfort Letter\" is not a guarantee that all or any of the permits will be issued to the Companies, only that the Companies are first in line for the permits.\n\nDr. Krzysztof Mastalerz, P.Geo, Qualified Person for Saturn and Swift, as defined by NI 43-101 standards, is currently coordinating research of the Lower Cretaceous sedimentary basin development in east-central Saskatchewan, in regards to the Mannville Group which hosts the discovery reported by Goldsource Mines Inc. Subject to final permitting and in sequential order the Companies are scheduling a preliminary exploration program for the 2008 summer field season.\n\nThe Companies will provide additional information when it becomes available.\n\nSATURN MINERALS INC. \t\t\t\tSW...