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Might it be possible that the 'house of choice used by ISM' may have changed?
Whaler,
IYO, do you think that these two trades are part of ISM's NCIB?
-B1-
Surething,
Would you happen to know if Dr.Stewart Jackson mentioned in this article is the same person connected with ISM?
TIA,
-B1-
Tantallon,
Perhaps this is what you were referring to:
CANADIAN ARROW MINES LTD.
P.O Box 1001 Timmins, ON, P4N 7H6 Ph: (705) 264-2296 Fx: (705) 267-7490 www.canadianarrowminesltd.com TSX-V: CRO and
Liberty Mineral Exploration Inc.
1340 Delnite Road
Timmins, ON, P4N 7C2
Ph: (705) 268-7659 (705) 268-7682
www.libertyminerals.com
TSX-V: LBE
January 19, 2005
N E W S R E L E A S E
PURCHASE AND SALE OF McWATTERS DEPOSIT
Canadian Arrow Mines Limited (CRO:TSXV) (“Arrow”) and Liberty Mineral
Exploration Inc. (LBE:TSXV) (“Liberty”) are pleased to announce that they have signed a
letter of intent pursuant to which Liberty has offered to sell the McWatters deposit located in
Ontario to Arrow in consideration for 3,000,000 shares of Arrow and $350,000 cash. Liberty
has agreed to pool the shares of Arrow that form part of the consideration such that no more
than 15% of these shares may be sold by Liberty in any given quarter. In addition, the
companies have agreed that any nickel sulphide deposits discovered within a 3 km radius
around the McWatters deposit that may be discovered on claims owned by Liberty may be
offered to Arrow on a first right of refusal based on the percentage formula of 5% of gross
economic nickel value at the time of sale.
Arrow is currently undergoing a 60 day due diligence period to review the property.
Completion of this acquisition is subject to the signature of a formal agreement and the approval
of the Board of Directors for each Company. In addition, this transaction is subject to the
approval of the TSX Venture Exchange.
The McWatters deposit is located 23 kilometres to the southeast of Timmins and was
discovered by McWatters Gold Mines in partnership with Quebec Manitou Mines Limited in
P.O Box 1001
Timmins, ON, P4N 7H6
Ph: (705) 264-2296 Fx: (705) 267-7490
www.canadianarrowminesltd.com
TSX-V: CRO
2
1961. Exploration completed on the McWatters Property since 1961 has identified a zone of
high grade nickel sulphides and a halo of lower grade nickel sulphide mineralization with a
historic resource calculation completed by McWatters Mining in 1964 that does not comply
with NI 43-101 standards with a lower zone of 144,165 tons of 2.17% Ni and an upper zone
of 415,450 tons of 0.85% Ni.
Canadian Arrow has acquired the property as part of its strategy to advance high grade nickel
projects within existing mining camps and this property will compliment Arrow’s property
position in the Shaw Dome area which includes both the McWatters West and Hart Nickel
Properties. As part of the due diligence process, Arrow will be completing additional diamond
drilling to test for the continuity of the nickel sulphide mineralization, re-logging of diamond drill
core completed by Liberty and re-assaying of sample intervals to verify metal contents and
metal tenors.
Liberty is focused on a near term production scenario for both its Redstone Mine Property and
McAra Lake Cobalt Project. Liberty has 100% interest in both projects, subject to vender
NSR’s.
Canadian Arrow Mines Limited
per:
“Singed”
Paul Davis, Director
Liberty Mineral Exploration Inc.
per:
“Signed”
Ed Ludwig, President/Director
Tantallon,
Where is your sourced information to back up your statement - otherwise it is conjecture on your part.
-B1-