Sultan Minerals Inc.: Altair Agreement Approved By TSX-Venture Exchange
03.04.2012 | The Newswire
Apr 3rd, 2012 - Sultan Minerals Inc. (SUL-TSX-Venture) ("Sultan") is pleased to announce that Altair Ventures Inc. ("Altair") has informed Sultan that its option agreement on Sultan's Kena Gold project has been accepted by the TSX Venture Exchange. Altair advises that it has raised $1.9 million for the project and is presently completing a review of all property data and an updated resource estimate in preparation for a summer drill program.Altair has an option to earn a 60% interest in Sultan's Kena Gold-Copper Property (the "Project") in British Columbia by completing $7,500,000 in Project related exploration expenditures over four years. The Altair Option has a term of 4 years commencing from December 30th 2011. (See News Release of January 3, 2012 for details).
Sultan's LOI with Tunxsten Resources on the Jersey Emerald Project has been extended and discussions regarding the Definitive Agreement are still on going.
Arthur G. Troup, P. Eng., Geological
President and CEO
For further information please contact:
Sultan Minerals Inc.
Marc Lee, Investor and Corporate Communications
Tel: (604) 628-0519 Fax: (604) 628-0446
Email: mlee@sultanminerals.com or info@sultanminerals.com
This release was prepared by Sultan's management. Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that Sultan expects are forward-looking statements. Although Sultan believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Sultan, investors should review Sultan's filings that are available at www.sedar.com or Sultan's website at www.sultanminerals.com.
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