Amerpro signs property option agreement to acquire the SV Lithium Mineral Claims



    VANCOUVER, Aug. 31 /CNW Telbec/ - AMERPRO RE

SOURCES INC. (TSX-V: AMP.A) (the "Company"). Donald Gee, President is pleased to announce that the Company has signed a definitive Mineral Option Agreement(the "Agreement") with GeoXplor Corp.,(the " Optionor"), a private company, to acquire 100% of seventy mineral claims located in Esmeralda County, Nevada, USA. The Company announced on July 20, 2009 that it had signed a Binding Letter of Intent with the Optionor to enter into the Option Agreement to acquire the SV Lithium Mineral Claims. The property comprises 11,200 acres in the Big Smokey Valley which is adjacent to the Clayton Valley, location of the only Lithium brine operation in the United States, the Chemetall-Foote Silver Peak operation. The property was acquired due to the proximal location of a gravity low as defined by the US Geological Survey and its potential as a trap for lithium rich brines. A National Instrument 43-101 geological report has been commissioned and will be completed shortly. In order to acquire 100% ownership, the Company must, over a four year period, pay a total of $285,000 US to the Optionor, issue 1 Million common shares of the Company and spend a minimum of $1.2 M US in exploration costs. In the event the Company obtains a favourable bankable feasibility study, the Company must issue an additional 250,000 common shares to the Optionor. The Optionor retains a 2 % Net Smelter Return which may be purchased for $1 M US for each one percent. The Company has paid $20,000 US to the Optionor upon signing the Agreement in accordance to the terms contained therein. The Mineral Option Agreement is subject to TSX Venture Exchange approval. Donald Gee, President said "The signing of the Definitive SV Option Agreement together with the closing of the $3M brokered private placement (announced August 21, 2009) will enable the Company to accelerate the implementation of its strategy to become a leader in Lithium development and production. The Company is aggressively seeking other opportunities globally." ON BEHALF OF THE BOARD "Donald Gee" ------------- Donald Gee President, CEO and Director FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: results of exploration activities and development of mineral properties, fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing, currency fluctuations, general market and industry conditions and other risks disclosed in the Company's filings with Canadian Securities Regulators. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, 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. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Neither 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. We seek Safe Harbor.

For further information:

For further information: Mr. Donald Gee B.Sc.(Geology), C.A., President,
(604) 618-3433; Investor Relations: Renmark Financial Communications Inc.:
Henri Perron: hperron@renmarkfinancial.com; John Boidman:
jboidman@renmarkfinancial.com; Media: François Trépanier:
ftrepanier@renmarkfinancial.com; Montreal: (514) 939-3989, Fax: (514)
939-3717, Toronto: (416) 644-2020, Fax: (416) 644-2021;
www.renmarkfinancial.com

Organization Profile

AMERPRO RESOURCES INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890