Oct 08, 2008 Saturn Minerals and Swift Resources Receive Additional Coal Prospecting Permits Vancouver, Oct. 8, 2008 -- Saturn Minerals Inc. -- SMI: TSX.V ("Saturn") & Swift Resources Inc. -- SWR: TSX.V ("Swift") (the "Companies"), have received an additional 83 coal prospecting permits from the Saskatchewan Ministry of Energy & Resources. The Companies have now received a total of 108 coal prospecting permits covering a total of 82,320 hectares (823 sq. km.) for lands located south and northwest of the recent coal discovery made by Goldsource Mines Inc. (see attached map). The Companies have also received comfort letters giving priority sequence for an additional 149,248 hectares (news releases dated May, 12, June 25, July 17 & October 1)
The 108 coal prospecting permits received to date grant Saturn and Swift the exclusive right to explore for coal within an area of 82,320 hectares.
Barry Ryan, PhD, P.Geo and Krzysztof Mastalerz, PhD, P.Geo (the Companies' Qualified Persons as defined by NI 43-101) will develop an exploration program for the permitted ground. Saturn will be the operator of the exploration project and the costs of exploration will be divided on the basis of 60% Saturn and 40% Swift as per the Joint Venture Agreement entered into between the Companies (news release May 28, 2008).
For more information, please contact Stan Szary, Director T: (604) 685-6989 F: (604) 687-1327 www.SaturnMinerals.com www.Swiftres.com
SATURN MINERALS INC. SWIFT RESOURCES INC.
s/"Mike Elson"
President & Chief Executive Officer
| |||||
You can view the Next News Releases item: Tue Oct 28, 2008, Saturn Minerals and Swift Resources Receive 25 Additional Coal Prospecting Permits You can view the Previous News Releases item: Wed Oct 1, 2008, Saturn & Swift Receive Final Comfort Letter You can return to the main News Releases page, or press the Back button on your browser. |
