Business
Animas Resources Inc. signs letter of intent to purchase the San Enrique property
VANCOUVER, Nov. 26 /CNW/ - MetalQuest Minerals Inc. ("MetalQuest" or the "Company") announces Min...
About this update from South Star Battery Metals Corp
[{"type":"text","content":"\n\n\n\nVANCOUVER, Nov. 26 /CNW/ - MetalQuest Minerals Inc. ("MetalQuest" or the\n"Company") announces Minera Teck Cominco S.A. de C.V. has dropped its option\nto earn into the San Enrique property located in Sonora, Mexico. Animas\nResources Inc. ("Animas") has provided a letter of intent to exercise its\noption and purchase the property subject to completing the appropriate due\ndiligence.\n\n\nMinimal exploratory work was undertaken at San Enrique this year. As\nsuch, the Company is pleased to monetize the asset and introduce Animas'\nexperienced exploration team to the project. Under the terms of the agreement,\nAnimas will issue US $450,000 in cash and or stock on closing for a 100%\ninterest in the property.\n\n\nOver the past two years, MetalQuest has been divesting itself of its\nMexican and non core Canadian assets after mixed exploration results on the\nproperties, having sold the Santa Gertrudis property and allowing the Tantalus\nMountain, British Columbia claims to lapse. Meanwhile, the Company has entered\nnegotiations to add a Peruvian copper-gold porphyry prospect to the portfolio.\nDetails will be limited until negotiations are complete; however, the property\ndoes boast appealing logistics, climate, grade and tonnage potential. The\nCompany is hoping for a successful conclusion to negotiations over the next\nfew weeks.\n\n\nABOUT METALQUEST MINERALS INC.\n\n\nMetalQuest Minerals Inc. is a copper-gold exploration company, based in\nVancouver, British Columbia, Canada with management possessing years of\nexperience in resource exploration, capital markets, mergers and acquisitions,\nand communications. The Company is looking to establish year round exploration\nprograms and currently owns the RHG copper-gold porphyry prospect in\nnorthwestern British Columbia, Canada, which features grab samples as high as\n30.6% copper and 0.48 oz/t gold. The Company has approximately $500,000 in\ncash, 1,500,000 shares of Animas Resources Inc. subject to an escrow release\nprogram, and cash and or stock payments of US $500,000 on the 1st, 2nd and 3rd\nanniversaries of the sale of the Santa Gertrudis properties starting in July\n2008. For more information, visit www.metalquest.ca.\n\n\nOn Behalf of the Board,\n\n\n(x)Dave McMillan(x)\n\n\nDave McMillan\n\n\nPresident & C.E.O.\n\n\nMetalQuest Min...