CALGARY, April 15 /CNW/ - General Properties Ltd. (TSX Venture Exchange: GPL) (the "Corporation") announces the appointment of Mr. Louis Wolfin to the Board of Directors of the Corporation. Mr. Wolfin is involved in a number of listed resource companies as an Officer or Director and brings a wealth of mining and public company governance experience to the Corporation.
The Corporation is a mining exploration and development company with holdings in Northern Alberta totalling 831 square miles of permit area containing a confirmed Iron resource.
As previously announced in the Corporation's January 24, 2008 press release, the Corporation has entered into a letter of intent to acquire a 70% interest in a past producing gold mining property (the "Property") located approximately 70 miles from Phoenix. The Property consists of approximately 1,000 acres of patented and unpatented ground. The Property was last worked by BEMA Gold Corporation, who completed a feasibility study in 1998.
Management of the Corporation believe that the acquisition of the Property presents an opportunity to further develop the Corporation as an exploration and development company focused on precious and base metals.
The Corporation is currently preparing an information circular and the additional associated documentation to seek shareholder approval of the transaction.
Please note that the feasibility study referenced herein was not reported in present day National Instrument 43-101 standards.
There can be no assurance that the Corporation will be able to obtain the required approvals to complete the aforementioned transaction.
Information about the Corporation can be found at www.sedar.com.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this press release and has neither approved nor
disapproved the contents of this press release.