Callinex Mines Inc. Proposes to Exercise Option to Acquire Gossan Hill Property
Pursuant to an amending agreement with the property's vendor, subject to regulatory approval, Callinex will issue 430,000 of its shares, deliver 70,000 shares of Callinan Royalties Corporation (currently held by Callinex for purposes of completing property transactions) and pay $100,000 to the vendor. Once these shares are issued / delivered, and the payment has been made, Callinex will hold a 100% interest in the Gossan Hill property, subject to a 2% NSR, (50% of which NSR can be purchased from the vendor by Callinan Royalties Corporation).
On Behalf of the Board of Directors,
"J.J. O'Donnell"
J.J. O'Donnell
All of Callinex's exploration programs are conducted under the direction of J.J. O'Donnell, P.Geo, a qualified person as defined by national instrument 43-101, who has reviewed and approved the contents of this release.
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 release.
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated work programs and the timing and amount of expenditures. Callinex does not assume the obligation to update any forward-looking statement.
For further information:
Braden Maccke
Investor Relations
Suite 1110 - 555 W. Hastings St., Vancouver, BC V6H 4V4
Telephone: 604-605-0885
Fax: 604-605-0886
Email: info@callinex.ca
Website: www.callinex.ca