Reservoir Acquires Land for Brodarevo-2 Dam Site Construction
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/13/11 -- Reservoir Capital Corp. (TSX VENTURE: REO)(FRANKFURT: ROC)(BERLIN: ROC) ('Reservoir' or the 'Company') is pleased to report that it has acquired an option to purchase surface rights required for the permitting and development of the Brodarevo-2 Hydroelectric Project ('Project'). The land package optioned covers approximately five hectares and includes several houses and a meat-processing facility, on the banks of the River Lim, where the Company plans to locate the Brodarevo-2 dam and power plant.
Completion of this purchase allows the Company to move forward with its planned geotechnical drilling program for the dam foundations, to complete Feasibility Studies and is an important element in the issue of building permits for the project.
Miljana Vidovic, President and CEO of Reservoir commented: 'This has been a lengthy and delicate process involving multiple sellers from the Muslim and Serb communities surrounding our projects. We are very pleased with the support and cooperation we have received and very proud to have the opportunity to work with the local communities to develop Brodarevo to the benefit of all parties.'
About Reservoir
Reservoir is a renewable energy company that is engaged in the development of a 58.4 MW hydroelectric project at Brodarevo in southwest Serbia. Reservoir holds four geothermal exploration licenses in Serbia and has applied for three hydroelectric licenses on the Cehotina River in Bosnia (17.75 MW) and one to develop a 32 MW project from an existing reservoir dam at Vrutci in Serbia. The Company also holds 8 precious and base metal exploration properties in Serbia that, subject to approvals, are to be spun-out into a separately listed company via dividend (see March 25, 2011 Press Release 'Reservoir Capital Announces Spin-Out of Mineral Exploration Assets'). Reservoir's common shares trade on the TSX Venture Exchange (symbol 'REO') and on the Frankfurt and Berlin Exchanges (symbol 'ROC').
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Contacts:
Reservoir Capital Corp.
Chris MacIntyre
VP Corporate Development
381 (11) 397 8453 or 1 416 703 0010
info@reservoircapitalcorp.com
www.reservoircapitalcorp.com