Owner
Post by Franko10 ™ on Oct 13, 2004 8:54:55 GMT -5
--(BUSINESS WIRE)--March 29, 2004--U.S. Canadian Minerals Inc. (UCAD - news) today announced that it has signed an Option Agreement with United Carina Resources Corp. (UCA - news) , Consolidated Pine Channel Gold Corp. (KPG - news) , and CMKM Diamonds Inc. (Pink Sheets: CMKX).
U.S. Canadian Minerals has the right to acquire an option to purchase a 25% interest in 27 mineral claims, which are comprised of approximately 22,447 acres. These claims are located in the province of Saskatchewan, Canada and were named the Smeaton Property by the optionor. The property is located in central Saskatchewan north of Fort a la Corne and situated within the boundaries of NTS 73-H-07. The grant of option shall be made in consideration of the total payment of $50,000USD. U.S. Canadian must spend or cause to be spent, an aggregate of $200,000 Cdn. on a program of exploration and development work on the property, on or before March 31, 2005 to complete the purchase. United Carina Resources Corp. shall retain 25% interest; Consolidated Pine Channel Gold Corp. will also retain 25%, and CMKM Diamonds will retain the remainder 25% interest.
There is no guarantee that further exploration or drilling will produce any economic benefit to the company or the shareholders of the company.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Statements contained in this document which are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements.
Company Web site: www.uscanadian.net
U.S. Canadian Minerals has the right to acquire an option to purchase a 25% interest in 27 mineral claims, which are comprised of approximately 22,447 acres. These claims are located in the province of Saskatchewan, Canada and were named the Smeaton Property by the optionor. The property is located in central Saskatchewan north of Fort a la Corne and situated within the boundaries of NTS 73-H-07. The grant of option shall be made in consideration of the total payment of $50,000USD. U.S. Canadian must spend or cause to be spent, an aggregate of $200,000 Cdn. on a program of exploration and development work on the property, on or before March 31, 2005 to complete the purchase. United Carina Resources Corp. shall retain 25% interest; Consolidated Pine Channel Gold Corp. will also retain 25%, and CMKM Diamonds will retain the remainder 25% interest.
There is no guarantee that further exploration or drilling will produce any economic benefit to the company or the shareholders of the company.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Statements contained in this document which are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements.
Company Web site: www.uscanadian.net
