Saturn Minerals Inc. Acquires 100% Interest in the Saskatoba Coal Project |
| Marketwire.com - Aug 16, 2011 |
NCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 16, 2011) - Saturn Minerals Inc. (TSX VENTURE:SMI) ("Saturn" or the "Company") is pleased to announce that it has acquired a 100% interest in all Saskatchewan and Manitoba coal properties (the "Saskatoba Project) as per a Purchase and Termination Agreement (the "P&T Agreement") with its Joint Venture partner, Swift Resources Inc. ("Swift"). As per the terms of the P&T Agreement, subject to regulatory approval, "Swift agreed to transfer and surrender to Saturn and Saturn has agreed to acquire all of Swift's Participating Interest and other rights and Interests in the Joint Venture and thereafter terminate the JV Agreement and the underlying Joint Venture" with respect to the Saskatoba Coal Project.
The Saskatoba Project comprises over 1,200 square kilometers of coal properties located in eastern Saskatchewan & western Manitoba. Saturn has made two coal discoveries on the Saskatoba Project since 2009, the Leif Coal Basin and the Karolina Coal Basin, the later of which returned one of the thickest coal intersections ever reported in Canada at 88.98 meters beginning at 44.65 meters depth.
About Saturn Minerals Inc.
Saturn Minerals Inc. (TSX VENTURE:SMI) is a junior Canadian energy & resources company advancing a portfolio of energy and resource assets in Saskatchewan, Manitoba and British Columbia. The Company has made two bituminous coal discoveries at its Saskatoba Project since 2009, including one of the thickest coal seams encountered in Canada at 88 metres thickness. The Company continues to build strategic relationships throughout eastern Saskatchewan to pursue new opportunities and advance current projects in the Saskatchewan share of the Western Canadian Sedimentary Basin.
SATURN MINERALS INC.
Stan Szary, President
Neither the 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 news release.
Contact Information
Saturn Minerals Inc.
Stan Szary
President
(604) 685-6989
www.saturnminerals.com
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- Posted: 2011-08-16 10:28:01
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