Owner
Post by Franko10 ™ on Sept 29, 2005 11:35:13 GMT -5
Morgain Minerals Options Cuatro Hermanos Property, Mexico
14:20 EDT Thursday, September 29, 2005
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 29, 2005) - Morgain Minerals Inc. ("Morgain") (TSX VENTURE:MGM) and C.H. Copper International Ltd. ("CH Copper"), through their respective Mexican subsidiaries, have entered into an option agreement whereby CH Copper can earn a 100% interest in Morgain's wholly-owned Cuatro Hermanos porphyry copper property located in Sonora, Mexico.
Under the terms of the agreement, CH Copper can earn a 100% interest by making annual payments to Morgain of US$150,000 per year and, provided CH Copper is up to date with respect to the annual payments, delivering a notice to Morgain containing its commitment to place the Cuatro Hermanos Property into commercial production. Upon exercise of the option, Morgain will be entitled to a royalty interest equal to the greater of US$150,000 per calendar year or 3% of net smelter returns.
About Morgain Minerals Inc.
Morgain Minerals is a resource exploration company with a number of precious and base metal properties in Mexico. Its corporate strategy is to explore and develop properties with known resources that can be further explored to a production status. Visit our website at www.morgainminerals.com for the latest corporate information.
FOR FURTHER INFORMATION PLEASE CONTACT:
Morgain Minerals Inc.
Chester F. Millar
Chairman, CEO and President
(604) 643-1727
(604) 643-1726 (FAX)
morgain@telus.net
www.morgainminerals.com
The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.
14:20 EDT Thursday, September 29, 2005
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 29, 2005) - Morgain Minerals Inc. ("Morgain") (TSX VENTURE:MGM) and C.H. Copper International Ltd. ("CH Copper"), through their respective Mexican subsidiaries, have entered into an option agreement whereby CH Copper can earn a 100% interest in Morgain's wholly-owned Cuatro Hermanos porphyry copper property located in Sonora, Mexico.
Under the terms of the agreement, CH Copper can earn a 100% interest by making annual payments to Morgain of US$150,000 per year and, provided CH Copper is up to date with respect to the annual payments, delivering a notice to Morgain containing its commitment to place the Cuatro Hermanos Property into commercial production. Upon exercise of the option, Morgain will be entitled to a royalty interest equal to the greater of US$150,000 per calendar year or 3% of net smelter returns.
About Morgain Minerals Inc.
Morgain Minerals is a resource exploration company with a number of precious and base metal properties in Mexico. Its corporate strategy is to explore and develop properties with known resources that can be further explored to a production status. Visit our website at www.morgainminerals.com for the latest corporate information.
FOR FURTHER INFORMATION PLEASE CONTACT:
Morgain Minerals Inc.
Chester F. Millar
Chairman, CEO and President
(604) 643-1727
(604) 643-1726 (FAX)
morgain@telus.net
www.morgainminerals.com
The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.
