Communicators
are winners!
News
18.11.2010
Zimtu Capital Corp. Options Carbo Rare Earth Properties to Arctic Star
Zimtu Capital Corp. Options Carbo Rare Earth Properties to Arctic Star
November 17, 2010 - Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1) (the “Company” or “Zimtu”) is pleased to announce that the Company and two of its prospecting partners have entered into option agreements with Arctic Star Diamond Corp. (“Arctic Star”) pursuant to which Arctic Star will acquire interests in several Rare Earth Element (“REE”) Projects located in the Carbo Area of northeastern British Columbia.
The Cap, Seebach and Javorsky Projects are all located in the Carbo REE Camp of northern British Columbia within the immediate vicinity of Spectrum Mining Corporation’s Wicheeda REE Discovery as well as the Carbo Project which is currently being drilled by Canadian International Minerals Inc. and Commerce Resources Corp. The claims are located 80 km northeast of Prince George and together comprise 9,129 hectares, making Arctic Star’s consolidated land position one of the largest in the camp.
The Company and its prospecting partner, 877384 Alberta Ltd. have entered into an option agreement with Arctic Star pursuant to which Arctic Star will acquire a 60% interest in the Cap and Seebach REE Projects. For its participation in the Cap and Seebach transaction, Zimtu will receive staged cash payments totaling $87,500 and 2,500,000 common shares on acceptance by the TSX Venture Exchange. 877384 Alberta Ltd. will receive cash and share consideration equal to that of Zimtu. Arctic Star will also be required to complete exploration expenditures totaling $5,000,000 over three years. The vendors will retain a 2% Net Smelter Royalty (“NSR”) on the properties and shall be operators until Arctic Star has earned its 60% interest.
The Company and its prospecting partner David Javorksy have entered into an option agreement with Arctic Star pursuant to which Arctic Star will acquire a 100% interest in the Javorksy Property also located in the Carbo Area. For its participation in the Javorsky transaction, Zimtu will receive staged cash payments totaling $25,000 and 1,000,000 common shares on acceptance by the TSX Venture Exchange. David Javorsky will receive cash and share consideration equal to that of Zimtu. The vendors will retain a 2% NSR on the property.
The REE Projects were acquired by the Company and its partners by staking and were acquired for project generation. The Company and its joint venture partners completed initial field programs over a number of the REE properties during the year and as part of the Company’s business, it will continue to evaluate and acquire prospective resource properties to make available for sale or joint venture. Zimtu provides mineral property advisory services and helps to connect companies with mineral properties of interest.
For additional information on our mineral property advisory services and available opportunities, contact Ryan Fletcher, Corporate Development and Director at 604.681.1568 or via email at rfletcher@zimtu.com.
About Zimtu Capital Corp.
Zimtu Capital Corp. invests in, creates and grows natural resource companies thereby providing a way for shareholders to indirectly participate and profit in the public company building process. The Company also provides mineral property advisory services helping to connect companies to properties of interest.
Zimtu Capital trades on the TSX Venture Exchange under the symbol “ZC” and the Frankfurt Stock Exchange under the symbol “ZCT1.” For more information please visit the corporate website at http://www.zimtu.com or contact:
Kevin Bottomley
Shareholder Services
Toll Free: 1.877.377.6222
Phone: 604.681.1568
Email: kevin@zimtu.com
On Behalf of the Board of Directors
ZIMTU CAPITAL CORP.
“David Hodge”
David Hodge
President & Director
Phone: 604.681.1568
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future.
Forward-looking statements in this news release include that Zimtu will receive staged cash payments totaling $25,000 and 1,000,000 common shares on acceptance by the TSX Venture Exchange for the Javorsky Property; that David Javorsky will receive cash and share consideration equal to that of Zimtu; that the vendors will retain a 2% NSR on the Javorsky Property; that Zimtu will receive staged cash payments totaling $87,500 and 2,500,000 common shares on acceptance by the TSX Venture Exchange of the Cap and Seebach transaction; that 877384 Alberta Ltd. will receive cash and share consideration equal to that of Zimtu; that Arctic Star will also be required to complete exploration expenditures totaling $5,000,000 over three years; that the vendors will retain a 2% NSR on the properties and shall be operators until Arctic Star has earned its 60% interest; that Zimtu will continue to evaluate and acquire prospective resource properties to make available for sale or joint venture; and that Zimtu provides mineral property advisory services and helps to connect companies with mineral properties of interest.
It is important to note that actual outcomes and the Company’s actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Readers should refer to the risk disclosures outlined in the Company’s Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA9895892052">http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA9895892052</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.
November 17, 2010 - Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1) (the “Company” or “Zimtu”) is pleased to announce that the Company and two of its prospecting partners have entered into option agreements with Arctic Star Diamond Corp. (“Arctic Star”) pursuant to which Arctic Star will acquire interests in several Rare Earth Element (“REE”) Projects located in the Carbo Area of northeastern British Columbia.
The Cap, Seebach and Javorsky Projects are all located in the Carbo REE Camp of northern British Columbia within the immediate vicinity of Spectrum Mining Corporation’s Wicheeda REE Discovery as well as the Carbo Project which is currently being drilled by Canadian International Minerals Inc. and Commerce Resources Corp. The claims are located 80 km northeast of Prince George and together comprise 9,129 hectares, making Arctic Star’s consolidated land position one of the largest in the camp.
The Company and its prospecting partner, 877384 Alberta Ltd. have entered into an option agreement with Arctic Star pursuant to which Arctic Star will acquire a 60% interest in the Cap and Seebach REE Projects. For its participation in the Cap and Seebach transaction, Zimtu will receive staged cash payments totaling $87,500 and 2,500,000 common shares on acceptance by the TSX Venture Exchange. 877384 Alberta Ltd. will receive cash and share consideration equal to that of Zimtu. Arctic Star will also be required to complete exploration expenditures totaling $5,000,000 over three years. The vendors will retain a 2% Net Smelter Royalty (“NSR”) on the properties and shall be operators until Arctic Star has earned its 60% interest.
The Company and its prospecting partner David Javorksy have entered into an option agreement with Arctic Star pursuant to which Arctic Star will acquire a 100% interest in the Javorksy Property also located in the Carbo Area. For its participation in the Javorsky transaction, Zimtu will receive staged cash payments totaling $25,000 and 1,000,000 common shares on acceptance by the TSX Venture Exchange. David Javorsky will receive cash and share consideration equal to that of Zimtu. The vendors will retain a 2% NSR on the property.
The REE Projects were acquired by the Company and its partners by staking and were acquired for project generation. The Company and its joint venture partners completed initial field programs over a number of the REE properties during the year and as part of the Company’s business, it will continue to evaluate and acquire prospective resource properties to make available for sale or joint venture. Zimtu provides mineral property advisory services and helps to connect companies with mineral properties of interest.
For additional information on our mineral property advisory services and available opportunities, contact Ryan Fletcher, Corporate Development and Director at 604.681.1568 or via email at rfletcher@zimtu.com.
About Zimtu Capital Corp.
Zimtu Capital Corp. invests in, creates and grows natural resource companies thereby providing a way for shareholders to indirectly participate and profit in the public company building process. The Company also provides mineral property advisory services helping to connect companies to properties of interest.
Zimtu Capital trades on the TSX Venture Exchange under the symbol “ZC” and the Frankfurt Stock Exchange under the symbol “ZCT1.” For more information please visit the corporate website at http://www.zimtu.com or contact:
Kevin Bottomley
Shareholder Services
Toll Free: 1.877.377.6222
Phone: 604.681.1568
Email: kevin@zimtu.com
On Behalf of the Board of Directors
ZIMTU CAPITAL CORP.
“David Hodge”
David Hodge
President & Director
Phone: 604.681.1568
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future.
Forward-looking statements in this news release include that Zimtu will receive staged cash payments totaling $25,000 and 1,000,000 common shares on acceptance by the TSX Venture Exchange for the Javorsky Property; that David Javorsky will receive cash and share consideration equal to that of Zimtu; that the vendors will retain a 2% NSR on the Javorsky Property; that Zimtu will receive staged cash payments totaling $87,500 and 2,500,000 common shares on acceptance by the TSX Venture Exchange of the Cap and Seebach transaction; that 877384 Alberta Ltd. will receive cash and share consideration equal to that of Zimtu; that Arctic Star will also be required to complete exploration expenditures totaling $5,000,000 over three years; that the vendors will retain a 2% NSR on the properties and shall be operators until Arctic Star has earned its 60% interest; that Zimtu will continue to evaluate and acquire prospective resource properties to make available for sale or joint venture; and that Zimtu provides mineral property advisory services and helps to connect companies with mineral properties of interest.
It is important to note that actual outcomes and the Company’s actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Readers should refer to the risk disclosures outlined in the Company’s Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA9895892052">http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA9895892052</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.