TORONTO, May 19 /CNW/ - GUYANA PRECIOUS METALS INC. (TSX-V:GPM) ("GPM") announces that Takara Resources Inc. ("Takara") (TSX-V:TKK) has elected by notice received by GPM on May 18, 2011, to
purchase the 70.1% interest held by Guyana Goldfields Inc. in the
Arakaka Property located in Guyana as per the terms previously noted in
a press release dated April 26, 2011.
Completion of the Arakaka Property purchase by GPM was subject to the
expiry or waiver of 30 day rights to acquire the Arakaka Property in
favour of the former and current venture partners in the Arakaka
Property, including Takara.
About Guyana Precious Metals Inc.
GPM is a Canadian based exploration and development company. GPM
presently controls and holds the Coppermine River Project, Nunavut
Territory and the Rory Claims, Yukon Territory. Both of these projects
are described as Copper-Nickel-Platinum-Palladium prospects.
Forward Looking Statements - Certain information set forth in this news
release may contain forward-looking statements that involve substantial
known and unknown risks and uncertainties. These forward-looking
statements are subject to numerous risks and uncertainties, certain of
which are beyond the control of GPM, including, but not limited to the
impact of general economic conditions, industry conditions, volatility
of commodity prices, risks associated with the uncertainty of resource
and reserve estimates, currency fluctuations, dependence upon
regulatory approvals, the availability of future financing and
exploration risk. Readers are cautioned that the assumptions used in
the preparation of such information, although considered reasonable at
the time of preparation, may prove to be imprecise and, as such, undue
reliance should not be placed on forward-looking statements.
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.
SOURCE Guyana Precious Metals Inc.
For further information:
Guyana Precious Metals Inc.
141 Adelaide Street West
Toronto, Ontario M5H 3L5
Attn: John Patrick Sheridan
Tel: (416) 628 5936
Fax: (416) 628 5935