Business
ZEPHYR MINERALS LTD. ANNOUNCES PROPOSED QUALIFYING TRANSACTION
Jun. 8, 2011 (Canada NewsWire Group) -- HALIFAX, June 8, 2011 /CNW/ - Zephyr Minerals Ltd. (&...
About this update from Zephyr Minerals Ltd.
[{"type":"text","content":"\n\n\n Jun. 8, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nHALIFAX, June 8, 2011 /CNW/ - Zephyr Minerals Ltd. ("Zephyr" or the\n "Company") (TSXV:ZFR.P) is pleased to announce that it has entered into\n an arm's length binding letter of intent with SLAM Exploration Ltd.\n (TSX-V: SXL) (US-OTC:SLMXF) ("SLAM") dated June 7th, 2011 (the "Letter of Intent") for the right to earn up to a 70%\n interest in the Keezhik Lake gold project in Ontario, Canada, (the\n "Transaction") located approximately 115 kilometers east-northeast of\n the town of Pickle Lake on NTS Map Sheet 52P/15SE&16SW and consisting\n of 12 contiguous claims covering approximately 2,704 hectares (the\n "Keezhik Claims").\n\n\nThe Company is a Capital Pool Company ("CPC") and intends the\n Transaction to constitute its Qualifying Transaction under the policies\n of the TSX Venture Exchange (the "Exchange").  Following completion of\n the Transaction, the resulting issuer will be a Tier 2 mining\n exploration company.\n\n\nTrading of the common shares of Zephyr has been halted at Zephyr's\n request and will remain halted pending the Exchange's receipt of\n satisfactory documentation and the issuance of a comprehensive press\n release.\n\n\nThe Transaction\n\n\nUnder the terms of the Letter of Intent, Zephyr has the exclusive right\n to earn up to a 70% interest in the Keezhik Claims by making cash\n payments, issuing common share...