ABBOTSFORD, BC, March 31 /CNW/ - ICS Copper Systems Ltd (The company or
ICS), (ICX:TSX.V) is pleased to announce that it has signed a Joint Venture
Agreement with Cooperative Miniere Maadini Kwa Kilimo (hereinafter referred to
as "CCMK") to develop the "Karukuruku" concession located in the area of
Kipushi, Haut Katanga, in the Province of Katanga, DRC better described as
Arrete Ministeriel No. 383 CAB.MIN/MINES/01/04 OF 19/06/04.
Under the agreement ICS will earn a 70% equity position in a joint
venture company to be called ICS Kipushi sprl by paying $80,000 to CCMK as
a) $10,000 against signature of the contract.
b) $50,000 within 21 days of signature of the contract to allow CCMK to
obtain a P.R. (Permis de Researche) over the property.
c) $20,000 once it is confirmed that a Permis de Researche has been
obtained over the "Karukuruku" concession.
ICS will have the option to increase their equity position from 75% to
90% in the joint venture company at a future time and date still to be
Mr. Graham Chisholm, President & CEO comments, "This adds to our
portfolio of exploration properties in the DRC which we intend to develop in
the future with the assistance of a well funded Joint Venture partner."
ICS COPPER SYSTEMS LTD.
Signed "Graham Chisholm"
Graham Chisholm, President & CEO
This release includes certain statements that are "forward-looking
statements". All statements in this release, other than statements of
historical facts that address future exploration, development and production
activities, and other circumstances, events and developments that the Company
expects, are forward-looking statements. Although management believes the
expectations expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of future
performance, and actual results, events and developments may differ materially
from those in the forward-looking statements. The occurrence of certain risk
factors, the probability of which is unknown, may also affect actual results,
events and developments expected by the Company.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Graham Chisholm, firstname.lastname@example.org, Office:
(604) 859-3007, Cell: (604) 302-0746; For Investor Relations: Brett Whitelaw,
email@example.com, Tel: (604) 662-8633, Web Page: www.icscopper.com