General Properties Ltd. announces filing of a satisfactory National Instrument 43-101 report

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[{"type":"text","content":"\n\n\n\nCALGARY, June 6 /CNW/ - General Properties Ltd. (TSX Venture Exchange:\nGPL) (the "Corporation") is pleased to announce the filing on the System for\nElectronic Document Analysis and Retrieval (www.sedar.com) of a satisfactory\nNational Instrument 43-101 report in respect of a past producing gold mining\nproperty (the "Property") that the Corporation has entered into an agreement\nto acquire a 70% interest in.\n\n\nAs previously announced in the Corporation's January 24, 2008 press\nrelease, the Corporation has entered into a letter of intent to acquire a 70%\ninterest in the Property (the "Transaction"), which is located approximately\n70 miles from Phoenix. The Property consists of approximately 1,000 acres of\npatented and unpatented ground. The Property was last worked by BEMA Gold\nCorporation, who completed a feasibility study in 1998.\n\n\nManagement of the Corporation believe that the acquisition of the\nProperty presents an opportunity to further develop General Properties as an\nexploration and development company focused on precious and base metals.\n\n\nThe Corporation is currently preparing an information circular and the\nadditional associated documentation to request shareholder approval of the\nTransaction.\n\n\nThe feasibility study referenced herein was not reported in present day\nNational Instrument 43-101 standards.\n\n\nThere can be no assurance that the Corporation will be able to obtain the\nrequired approvals to complete the Transaction.\n\n\nThe Corporation is a mining exploration and development company with\nholdings in northern Alberta, Canada. Information about the Corporation can be\nfound at www.sedar.com.\n\n\nThe TSX Venture Exchange does not accept responsibility for the adequacy\nor accuracy of this press release and has neither approved nor disapproved the\ncontents of this press release.\n\n\n","length":1951,"tagName":"div"}]

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