Owner
Post by Franko10 ™ on Sept 11, 2004 14:43:05 GMT -5
News Release
September 19, 2003
Agreement Signed with Casavant Mining
Shane Resources Ltd. (TSX.H: SEI) is pleased to announce that the Company has entered into an agreement with Casavant Mining Kimberlite International (U-CMKM) whereby the Company, will have an option to earn a 10% interest in 82 claims in the Fort à la Corne area of Saskatchewan. The interest will be earned by the Company providing $100,000 in 2003 and $200,000 in 2004, to be spent on exploring the claims for diamonds. In addition, the Company has agreed to grant CMKM a right of first refusal to earn up to a 49% interest in any diamond properties the Company may hold and seek to joint venture.
To finance the Company’s investment, the Company will be undertaking a private placement totalling $200,000, subject to the acceptance of the TSX Venture Exchange. These funds will be raised by the Company issuing up to 2,000,000 units at a price of $0.10 per unit, each unit consisting of one common share and one share purchase warrant entitling the holder to purchase one additional common share for a period of one year at a price of $0.15. Of the 2,000,000 units to be issued, up to 1,000,000 units will be flow-through units. Any finders’ fees payable will be in accordance with Exchange guidelines. The proceeds from this private placement will be used for exploration of the option claims, and for working capital purposes.
The Company further announces the granting of incentive stock options to certain of its directors, officers and employees to purchase up to 500,000 shares at a price of $0.10 per share, exercisable for a period of five years. These options are being granted under the Company’s stock option plan.
ON BEHALF OF THE BOARD
Rick Walker,
President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY
FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
September 19, 2003
Agreement Signed with Casavant Mining
Shane Resources Ltd. (TSX.H: SEI) is pleased to announce that the Company has entered into an agreement with Casavant Mining Kimberlite International (U-CMKM) whereby the Company, will have an option to earn a 10% interest in 82 claims in the Fort à la Corne area of Saskatchewan. The interest will be earned by the Company providing $100,000 in 2003 and $200,000 in 2004, to be spent on exploring the claims for diamonds. In addition, the Company has agreed to grant CMKM a right of first refusal to earn up to a 49% interest in any diamond properties the Company may hold and seek to joint venture.
To finance the Company’s investment, the Company will be undertaking a private placement totalling $200,000, subject to the acceptance of the TSX Venture Exchange. These funds will be raised by the Company issuing up to 2,000,000 units at a price of $0.10 per unit, each unit consisting of one common share and one share purchase warrant entitling the holder to purchase one additional common share for a period of one year at a price of $0.15. Of the 2,000,000 units to be issued, up to 1,000,000 units will be flow-through units. Any finders’ fees payable will be in accordance with Exchange guidelines. The proceeds from this private placement will be used for exploration of the option claims, and for working capital purposes.
The Company further announces the granting of incentive stock options to certain of its directors, officers and employees to purchase up to 500,000 shares at a price of $0.10 per share, exercisable for a period of five years. These options are being granted under the Company’s stock option plan.
ON BEHALF OF THE BOARD
Rick Walker,
President
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY
FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
