Jan 12, 2012
Saturn Minerals Inc. Announces Saskatoba 2012 Winter Exploration Program
January 12, 2012, Vancouver -- Saturn Minerals Inc. (TSX.V: SMI) (FSE: SMK) ("Saturn" or the "Company") announces that it has retained North Rim Exploration Ltd. of Saskatoon, Saskatchewan to provide logistics and operational support services in Saskatchewan and Manitoba for the Company's winter drilling program which will constitute both early-stage and advanced-stage exploration for coal, oil & gas.
Advanced-stage and early-stage coal exploration will be carried out in Manitoba on the Overflowing property as well as two new properties acquired in 2011 after the identification of geophysical anomalies via airborne gravity survey. Advanced-stage and early-stage coal exploration will also be carried out in Saskatchewan on the Armit property as well as the Red Earth property, the latter of which Saturn will be acting as operator for Jameson Resource Ltd. (JAL -- ASX) (see Saturn news release, Nov 10, 2011).
Early-stage oil & gas exploration will also be carried out in Saskatchewan on two new properties acquired in 2011.
As part of the Company's incentive and retention program, the Board of Directors of the Company has approved the grant of 1,969,000 incentive stock options to directors, officers and consultants exercisable at $0.20 per option. The options granted were priced at the 5-day volume weighted average trading price of the Company's common shares on the TSX Venture Exchange for the five trading days prior to the grant date. The options have a five year term, and vest over a period of 18 months from the grant date and are subject to approval by the TSX Venture Exchange.
About Saturn Minerals Inc.
Saturn Minerals Inc. (TSX.V: SMI) (FSE: SMK) is a junior Canadian energy & resource company advancing a portfolio of energy and resource assets in Saskatchewan, Manitoba and British Columbia. The Company has made two bituminous coal discoveries at its Saskatoba Project since 2009, including one of the thickest coal seams encountered in Canada at 89 metres thickness. The Company also has a strategic ownership in Inowending Exploration & Development Corp., a First Nations owned exploration & development company active in Canada's prairie provinces.
To learn more, please contact the Company at (604) 685-6989 or visit: www.saturnminerals.com
On Behalf of the Board of Directors
SATURN MINERALS INC.
s/ "Stan Szary"
Chief Executive Officer
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
You can view the Next News Releases item: Wed Jan 18, 2012, Saturn Minerals Inc. Signs MOU for Coal Supply Agreement
You can view the Previous News Releases item: Fri Dec 30, 2011, Saturn Minerals Inc. Completes Private Placement
You can return to the main News Releases page, or press the Back button on your browser.