NEW YORK and MONTREAL, Feb. 21, 2012 /CNW Telbec/ - Canwealth Minerals
Corporation and partner ICBS Ltd., (OTCPK: ICBT), announced today that it has filed mineral claims on 6 new sites in the
James Bay area of Northern Quebec representing over 720 acres. The area
shows concentrations of Gold and Copper.
Canwealth Minerals Corporation - is an exploration and mining company
actively searching for gold and base metal ore deposits in Quebec. At
the present time the company holds 7 Mining properties (248 Claim
cells) in North Central Quebec's Abitibi region and South Western
Quebec for a total of 14,508 hectares or 35,850 acres under management
and is 100% owned by Canwealth Minerals Corp. The company's management
team is made up of professionals with extensive exploration and
production experience. The management is committed to building
Canwealth Minerals Corporation into a profitable resource company by
maximizing shareholder value through exploration of its high quality
properties in Quebec.
The main thrust of the exploration will to be focused on sites that have
a strong indication of precious minerals, such as Gold, Silver and
The company is now in the process of its phase 3 for the deep
exploration of holdings and other strategic locations in Northern
Quebec. Core drilling is expected to commence late April 2012, weather
permitting, with assay and geology reports expected by fall. Following
those reports, the company will outline the claim locations for further
development in early spring of 2013.
The company's current strategic direction is, to seek out
properties/claims known to have high value mineral targets which will
lead rapidly to the advanced exploration and development stages.
ICBS is providing management and project funding.
Legal Notice Regarding Forward-Looking Statements:
Safe Harbour: This press release contains forward-looking information
within the meaning of section 27A of the Securities Act of 1933 and
section 21E of the Securities Exchange Act of 1934 and is subject to
the Safe Harbour created by those sections. This material contains
statements about expected future events and/or financial results that
are forward-looking in nature and subject to risks and uncertainties.
Such forward-looking statements by definition involve risks,
uncertainties and other factors, which may cause the actual results,
performance or achievements of ICBS Limited, to be materially different
from the statements made herein.
SOURCE Canwealth Minerals Corporation
For further information:
SOURCE: Canwealth Minerals Corporation, ICBS Limited.
CONTACT: Kelly Taylor, President & CEO