Symbol: CNG - TSX.V
VANCOUVER, Aug. 30 /CNW/ - Canadian Mining (the "Company") announces it has granted an extension on the Option to Purchase to Heemskirk Canada Limited on the Company's Bromley Creek zeolite mine. The maturity date of the Agreement is June 30, 2015.
As activity increases in the Alberta oil patch and other zeolite markets open up the demand for the Company's Bromley Creek zeolite will grow. Under the terms of the agreement, Heemskirk Canada will pay Canadian Mining a royalty of $7.50 per tonne on zeolite sold from the mine. This royalty payment will be deducted from the purchase price of $1,450,000.00.
Heemskirk will be responsible for all mining, loading areas, road access, reclamation reports and insurance during the term of the agreement. Canadian Mining is extremely pleased to continue their working relationship with Heemskirk Canada Limited.
In other news, Canadian Mining is planning to advance several of its Canadian industrial and precious metal properties located in British Columbia. News will be issued as it becomes available.
Canadian Mining is a well diversified company with advanced projects in Mexico, Arizona and British Columbia, Canada.
On Behalf of the Board
Ray Paquette CEO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
SOURCE Canadian Mining Company Inc.
For further information: For further information: Mr. Ray Paquette, 604.684.3301; Please see our web site for additional details: www.canadianmining.ca