Thelon Acquires Jellico Coal Project
October 29 2010 - 9:41AM
Marketwired
Thelon Capital Ltd. (TSX VENTURE: THC)(FRANKFURT: TFHC) is pleased
to announce that the TSX Ventures has accepted for filing the
Letter of Agreement to lease or purchase the Jellico Coal Project
announced May 18, 2010.
The Jellico Coal Project consists of 6000 acres of fee simple
land in the Cambell and Claiborne counties in the State of
Tennessee. According to a report authored by A. R. Leamon in July
2009 the Jellico Project consists of a minimum 13 million Tons of
high quality Thermal and Metallurgical coal. This is a historic
report and is not 43-101 compliant and therefore cannot be relied
upon. The company intends to do a work program immediately to
confirm and expand the historic reserve and have a NI 43-101 report
completed.
Thelon and its Directors would like to welcome Geoff Watson to
the Board of Directors. Mr. Watson brings over 30 years of
experience in the financial industry.
The Company would also like to report it has set 1.1 million
employee stock options at a price of .25 for a period of 2
years.
THELON CAPITAL LTD.
On behalf of the Board of Directors
Jason Walsh, President
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this News
Release.
Contacts: Thelon Capital Ltd. Jason Walsh President (604)
682-1643 (604) 682-1666 (FAX) www.theloncapital.com
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