TRADING SYMBOL: EAM-TSXVenture 12G EXEMPTION No. 82-2647
VANCOUVER, Jan. 2 /CNW/ - Ecstall Mining Corporation (TSX Venture: EAM) ("Ecstall" or the "Company") confirms that Mantle Resources Inc. ("Mantle") has commenced a hostile takeover bid for all of the issued and outstanding common shares of the Company. Under the terms of the offer Ecstall shareholders would receive 0.40 of a common share of Mantle for each Ecstall share.
The Board of Directors of Ecstall will thoroughly review, consider and evaluate the offer from Mantle in consultation with its financial and legal advisors. During this evaluation, the Ecstall Board will consider and review all available strategic alternatives, including remaining as a stand-alone company.
Following the review process, Ecstall will file a Directors' Circular with the applicable securities commissions in Canada, which will outline the Company's response to the hostile bid and will contain important new material information for shareholders. Ecstall shareholders are urged not to tender their shares to the hostile Mantle offer prior to reviewing this important information.
Shareholders who have already tendered to the Mantle offer and wish to withdraw their shares are encouraged to contact Kingsdale Shareholder Services Inc. at toll-free 1-866-833-6980.
Ecstall is a Vancouver based mineral exploration and development company that has been listed on the TSX-Venture Exchange since 1989 and trades under the symbol "EAM". Ecstall's exploration and property acquisition efforts are focused on polymetallic massive sulphide targets (VMS copper-zinc-gold and Sedex zinc-lead-silver) in British Columbia and Alberta, as well as four advanced gold projects in the Eskay Creek and South Okanagan areas of British Columbia. Ecstall has an extensive portfolio of mineral properties, including the Akie sedex zinc deposit, the adjacent Pie and Yuen sedex zinc projects and about 60 km of other claims located along the prospective Gunsteel shale within the Kechika Trough Zinc District of northern British Columbia.
ON BEHALF OF THE BOARD OF DIRECTORS
ECSTALL MINING CORPORATION
"CHRIS GRAF"
CHRIS GRAF P.Eng., President
The TSX Venture Exchange has neither approved nor disapproved the
contents of this press release.