CNR Capital Corporation announces final approval of its qualifying transaction with Argonaut Resources Inc.



    TORONTO, July 4 /CNW/ - CNR CAPITAL CORPORATION ("CNR" or the
"Corporation") (PY.P - TSX Venture) announced today that the TSX Venture
Exchange Inc. (the "Exchange") has issued its Final Exchange Bulletin
regarding the Corporation's acquisition of all of the issued and outstanding
shares of Argonaut Resources Inc. ("Argonaut"). This acquisition involved a
share exchange between Argonaut and the Corporation and was the Corporation's
arm's length qualifying transaction pursuant to the policies of the Exchange.
    The acquisition together with the details of the Corporation, Argonaut
and the resulting issuer are described in the Corporation's Filing Statement
dated June 2, 2008. A copy of the Filing Statement may be viewed on SEDAR at
www.sedar.com.
    Commencing on the opening of business on July 7, 2008, the Corporation
will be a Tier 2 mining issuer whose shares will be listed for trading on the
Exchange with the symbol TSXV: PY.

    The TSX Venture Exchange Inc. has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release. The TSX
    Venture Exchange Inc. has in no way passed upon the merits of the
    proposed transaction and has neither approved nor disapproved of the
    contents of this release.

    %SEDAR: 00023078E




For further information:

For further information: Charles Chebry, Chief Financial Officer and a
director of CNR by telephone at (403) 454-1297

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CNR CAPITAL CORPORATION

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