MONTREAL, Jan. 26 /CNW Telbec/ - Cancor Mines Inc. (TSX- KCR) (the
The Company has been advised by the Toronto Stock Exchange (the "TSX")
that the TSX is reviewing the eligibility for continued listing on the TSX of
the common shares of the Company. It is the Company's understanding that the
TSX is primarily concerned with the Company's market capitalization, which is
currently below the minimum required level of Cdn$3 million. The Company has
been granted 210 days in which to regain compliance with these requirements,
pursuant to the TSX's Remedial Review Process.
Cancor board and executives are taking all the necessary actions to
comply with all the requirements and to address the situation in the current
Cancor Mines Inc. is a Canadian mining company that is engaged in the
exploration and development of properties with gold and base metal potential
in established mining camps.
In Quebec, Cancor has two properties at advanced stages of development:
- Kistabiche Property: The Explo-Zinc deposit is located on Cancor's
Kistabiche property. Further exploration is on-going in order to locate
other mineral Resources.
- Gemini-Turgeon property: On-going exploration aims to confirm more gold
and base metal resources.
In Algeria, Cancor has commenced geological evaluation of four major
properties located in the southern Hoggar region. All of the projects have
compelling gold potential.
- The Tan Chaffao properties (Tan Chaffao East and West) are for gold and
copper exploration in a massive sulfide environment in which
indications are extremely favorable for a deposit.
- Cancor's two Gold projects (In Ouzzal North and Tirek North) encompass
100 kilometers of a gold bearing structure which currently host two
gold deposits. One deposit (Amessmessa) has already been placed in
All Cancor Mines Inc. press releases are available on the company's
website at www.cancor.ca. This press release has been read and approved by Mr.
Khobzi, engineer and qualified person within the meaning of NI-43-101.
Caution concerning forward-looking statements
This press release contains certain "forward-looking statements",
including. but not limited to, the statement regarding exploration work and
the emphasis on looking for a certain type of deposit. Forward-looking
statements involve a number of risks and uncertainties. There can be no
assurance that such statements will prove to be accurate. Actual results and
future events could differ materially from those anticipated in such
statements. Risks and uncertainties that could cause results or future events
to differ materially from current expectations expressed or implied by the
forward-looking statements include, among other things, those set forth in
Cancor's 2008 Annual Information Form, a copy of which can be obtained on the
SEDAR website at www.sedar.com.
For further information:
For further information: Mr. Khobzi, President, (514) 849-3013