Post by Franko10 ™ on Jan 10, 2005 21:32:37 GMT -5
ANGLO MINERALS LTD.
February 20, 2004 TSXV Symbol: ALM
NEWS RELEASE
ANGLO MINERALS LTD. CORPORATE UPDATE
CALGARY, ALBERTA-Anglo Minerals (TSXV: ALM) Todd Montgomery, President of
Anglo Minerals Ltd., is pleased to announce that it has sold the Snowden Mineral Claims in the
Fort a la Corne kimberlite cluster of Saskatchewan. Pursuant to a letter agreement dated
effective December 31, 2003, Anglo's interest in these Claims has been sold to Rio Grande
Mines Corp., a private mining company, with the purchase price of $30,000 being due and
payable in full on or before February 28, 2004. Anglo is required to pay the sum of $7500 to a
prior owner of the Claims, who is arm's length to Anglo and who retains a 1% net smelter royalty
over the Claims.
Anglo also wishes to announce that it will be proceeding with an offering of up to 3,000,000
common shares by way of a non-brokered private placement at $0.05 per common share, for
gross proceeds to the corporation of up to $150,000. It is anticipated that insiders of Anglo may
subscribe for some or all of the private placement.
Anglo continues to maintain a 49% interest in the Firebag Coal Property and a 5% carried
working interest through to bankable feasibility in the Northern Lights Oilsands Project, both
operated by Synenco Energy Inc. Synenco has the exclusive right, exercisable until December
31, 2004, to acquire all of Anglo’s interest in both the aforementioned projects for $25 million
cash. Anglo continues to explore available alternatives with a view to generating positive cash
flow and maximizing shareholder value.
For further information contact:
Anglo Minerals Ltd.
Todd Montgomery
Phone (403) 510-5565
Fax (403) 284-4431
February 20, 2004 TSXV Symbol: ALM
NEWS RELEASE
ANGLO MINERALS LTD. CORPORATE UPDATE
CALGARY, ALBERTA-Anglo Minerals (TSXV: ALM) Todd Montgomery, President of
Anglo Minerals Ltd., is pleased to announce that it has sold the Snowden Mineral Claims in the
Fort a la Corne kimberlite cluster of Saskatchewan. Pursuant to a letter agreement dated
effective December 31, 2003, Anglo's interest in these Claims has been sold to Rio Grande
Mines Corp., a private mining company, with the purchase price of $30,000 being due and
payable in full on or before February 28, 2004. Anglo is required to pay the sum of $7500 to a
prior owner of the Claims, who is arm's length to Anglo and who retains a 1% net smelter royalty
over the Claims.
Anglo also wishes to announce that it will be proceeding with an offering of up to 3,000,000
common shares by way of a non-brokered private placement at $0.05 per common share, for
gross proceeds to the corporation of up to $150,000. It is anticipated that insiders of Anglo may
subscribe for some or all of the private placement.
Anglo continues to maintain a 49% interest in the Firebag Coal Property and a 5% carried
working interest through to bankable feasibility in the Northern Lights Oilsands Project, both
operated by Synenco Energy Inc. Synenco has the exclusive right, exercisable until December
31, 2004, to acquire all of Anglo’s interest in both the aforementioned projects for $25 million
cash. Anglo continues to explore available alternatives with a view to generating positive cash
flow and maximizing shareholder value.
For further information contact:
Anglo Minerals Ltd.
Todd Montgomery
Phone (403) 510-5565
Fax (403) 284-4431