Confederation Minerals Ltd. Announces Amendment to Mitchell Belanger Option and Full Exercise of Matless Lake Option
April 07 2010 - 5:08PM
Marketwired Canada
Confederation Minerals Ltd. (the "Company") (TSX VENTURE:CFM) is pleased to
report that the Company has obtained the agreement of the optionor of its
Mitchell Belanger property to accept $2,000 and 310,000 shares on or before May
31, 2010 in satisfaction of the $40,000 final payment for the property. Upon
completion of the payment and the share issuance, the Company will own 100% of
the claims, subject only to a 2.0% net smelter return (half of which may be
purchased for $1,000,000). The share issuance is subject to regulatory approval.
The Company has also made the final payment to the optionor of the Matless Lake
property and now owns 100% of those claims, subject only to a 2.0% net smelter
return (half of which may be purchased for $1,000,000). As previously announced,
Shoreham Resources Ltd. has an option to earn a 70% interest in the Matless
property and is actively exploring the property .
CONFEDERATION MINERALS LTD.
Peter Bryant, CFO
Confederation Minerals (TSXV:CFM)
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