LAQ: TSX-V
VANCOUVER, June 26 /CNW Telbec/ - La Quinta Resources Corp. ("La Quinta" or, the "Company") (TSX-V: LAQ) of Vancouver, British Columbia is pleased to announce that the TSX Venture Exchange has now approved the completion of the Exploration and Option and Joint Venture agreements signed on April 23rd 2008 between the Company and Wa Balengela Kasai Investments (Congo) sprl (See Press Release No. 08-06 dated April 23rd, 2008.) The Exploration and Joint venture agreements between WBK and the Company cover a total of 32 Permis de Recherche granted to WBK by the Democratic Republic of Congo's Mining Registry, Cadastre Minier, on March 10th 2008. The 32 Permits cover a total of 7,010 square kilometers of gold exploration ground on the Maniema South Kivu Gold belt between and abutting the Lugushwa and Namoya multi million ounce properties of Banro Corporation (TSX:BAA)
Mr. Malcolm Swallow, the Company's Chairman and CEO commented, "We are delighted to finally complete theses Entry, Option and Joint Venture Agreements and to obtain TSXV approval for the transaction. We, and our partners Wa Balengela Kasai have been working on this transaction for almost two years, including, clearing the title and obtaining the final signed Permis de Recherche, before we could finally sign and complete the transaction. The highly prospective nature of the ground in a well known and readily identified gold belt with two major discoveries by others in the area, has lead to a highly competitive and difficult title exercise and makes it doubly satisfying to finally complete the acquisition for the Company.
We have an experienced and extensive set up in DRC led by Michel Cormier, P.Geo, the Company's President and COO, who is a known mine finder in Africa and an experienced explorationist and this means that we can get off to an early and rapid start to our exploration efforts, using our existing team of geologists and support personnel and aided by WBK. We look forward to a rapid and effective exploration program working on two fronts to explore this extensive gold belt."
About La Quinta Resources Corp.
La Quinta is a publicly held Canadian natural resource mining company focused on exploring for precious metals principally in Democratic Republic of the Congo and Mexico. The Company is led by a highly skilled, experienced Board and management team with significant successes in finding and developing early stage gold and base metals projects.
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements" for purposes of the safe harbor provided by Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
On Behalf of the Board
Malcolm J A Swallow
Chairman and CEO
The TSX - Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release, which
has been prepared by management.