Canterra and Shore Gold Buy Burnstone's Interest in Buffalo Hills Project
December 10 2009 - 1:01PM
Marketwired
Canterra Minerals Corporation (TSX VENTURE: CTM) (formerly
Diamondex Resources Ltd.) ("Canterra") and Shore Gold Inc. (TSX:
SGF) ("Shore") are pleased to announce that they have purchased,
each as to 50%, the joint venture interest of Burnstone Ventures
Inc. (formerly Pure Diamonds Exploration Inc.) ("Burnstone") in the
Buffalo Hills project in north central Alberta under a purchase and
sale agreement between Canterra, Shore and Burnstone. As
consideration for Burnstone's interest, Canterra and Shore each
paid $75,000 in cash to Burnstone, and Burnstone was granted a 1%
royalty interest in the Buffalo Hills project. The Buffalo Hills
project is presently a joint venture with Canterra, Shore, EnCana
Corporation ("EnCana") and Burnstone. As a result of the sale,
Canterra and Shore each hold a 28.5% interest in the Buffalo Hills
project, and EnCana holds the remaining 43% interest. The sale was
subject to a 30-day right of first refusal in favour of EnCana,
which was waived, as well as the receipt of EnCana's consent to the
transaction, which was obtained.
CANTERRA MINERALS CORPORATION
Randy C. Turner, President
SHORE GOLD INC.
Harvey J. Bay, Chief Financial Officer and Chief Operating
Officer
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this
news release.
Contacts: Canterra Minerals Corporation Randy C. Turner
President (604) 687-6644 diamonds@diamondex.net www.diamondex.net
Shore Gold Inc. Harvey J. Bay Chief Financial Officer and Chief
Operating Officer (306) 664-2202 shoregold@shoregold.com
www.shoregold.com
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