TSX Venture Exchange: MHI
Frankfurt Stock Exchange: N8Z/WKN: AODLHP
Pink Sheets: MHIFF
VANCOUVER, Dec. 22 /CNW/ - Further to previous announcements made
regarding talks with respect to a possible business transaction between
Mineral Hill Industries Ltd. (the Company) and Ascot Mining Plc, the
Company wishes to announce that both companies have agreed not to
proceed further with that business transaction.
Mineral Hill's immediate focus is on the development of its Liberty Hill
Gold Mine project, it announced on October 12th. The Company expects to receive early next year the renewal of the
permit, which had expired in December 2009. Once the permit is renewed,
the Company will upgrade the existing mining equipment and proceed, as
the operator, with the processing of a previously stockpiled bulk
sample of about 40,000 cubic yards of gravel and the preparation for
processing of a further 1.4 million cubic yards of previously exposed
material within the gold-bearing channel. The Company has completed the
winterization of the mine site, plant, equipment, exposed soil and the
material to be processed.
About Mineral Hill Industries Ltd.
Mineral Hill Industries Ltd. is a Canadian based mineral exploration
company trading on the TSX Venture Exchange (MHI), the Frankfurt
Exchange (N8Z/WKN: AODLHP), and the OTC Pink Sheets (MHIFF). Mineral
Hill has accumulated a diversified portfolio of lithium and precious
metal properties. Although the Company's determination to develop its
promising lithium exploration projects will remain a focal point,
Mineral Hill's acceleration of its new gold exploration and production
opportunities in Canada and the United States respectively, and
attracting a strong management team will be the main focus for the
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this news release.
SOURCE Mineral Hill Industries Ltd.
For further information: For further information:
on Mineral Hill Industries Ltd. and its projects, please visit the Company's website at www.mineralhill.com, or contact:
|Dieter Peter |
President and CEO
Mineral Hill Industries Ltd.
Telephone: (604) 685-4170