VANCOUVER, Jan. 26 /CNW/ - Tri-River Ventures Inc. (TSX.V Symbol: TVR.V)
announces that it has entered into a share acquisition agreement with
Strong Rising International Limited ("Strong Rising"), to acquire a
100% interest in Strong Rising's wholly owned subsidiary Taiji
Resources Ltd. ("Taiji"). Taiji is a private resources exploration
company registered in the Province of Saskatchewan. In consideration
of the acquisition, the Company will issue common shares to Taiji's
shareholder, which will be determined following completion of the
Company's ongoing due diligence work. The acquisition is subject to
shareholder approvals and TSX Venture Exchange acceptance.
Taiji holds a 100% interest in three non-contiguous potash exploration
permits in the Province of Saskatchewan. The three separate permits,
KP460, KP461, and KP465 (the "Permits") are favorably located in
southern Saskatchewan and are at the preliminary exploration stage.
Permit KP460, consisting of 18,479 acres, is approximately 160
kilometers east of Regina on the TransCanada Highway. Permit KP 461,
consisting of 32,583 acres is approximately 40 kilometers west of
Regina near Moose Jaw, and Permit KP 465, consisting of 12,464 acres is
approximately 55 kilometers northeast from Saskatoon. The Permits cover
a total 1026 square kilometers. A sequence of Mid Devonian carbonates
and evaporites containing the target strata of interest for potash is
projected to pass under all three Permits. 2D seismic geophysical test
reports have been received on KP461 and KP460 consistent with this
Tri-River is a Canadian based exploration company focussed on
acquisition, exploration and development of mineral resource
properties. The Company is currently evaluating its 95% owned Lianlong
mineral property in Sichuan province, China. Tri-River's shares are
listed on the TSX Venture Exchange under the symbol TVR.
This press release contains forward-looking statements based on current
expectations. Forward-looking statements entail various risks and
uncertainties that could cause actual events or results to differ
materially from those reflected in forward-looking statements. Risks
and uncertainties about Tri-River's business are more fully discussed
in Tri-River's disclosure materials under the heading "Risk Factors"
and elsewhere in Tri-River's MD&A, Financial Statements and other
periodic filings with Canadian securities regulators and on SEDAR. The
Company does not assume any obligation to update forward-looking
statements except as required under applicable law.
SOURCE Tri-River Ventures Inc.
For further information:
Y.B. Ian He (604) 306-5867
Michael Woods (604) 925-0551