TSX-V Symbol: BCU
VANCOUVER, Aug. 31 /CNW Telbec/ - Bell Copper Corporation ("Bell
Copper" or the "Company") (TSX-V Symbol: BCU) announces that it has
signed a binding letter agreement ("Letter Agreement") with Castle
Resources ("Castle") to sell its 100% interest in the past producing
Granduc Copper Mine located near Stewart, B.C.
The 100% sale of the Granduc Mine to Castle supersedes the previously
announced option agreement between the Company and Castle (see press
release dated July 19, 2010). Upon closing of the formal agreement
to sell a 100% interest in the Granduc Property, the prior option
agreement will be considered null and void. To complete the purchase of
the Granduc, Castle agrees to pay to Bell Copper a further $2 million
(for a total of $4.5 million) and issue a further 2,750,000 Castle
common shares (for a total of 3.0 million common shares) on or before
December 1, 2010.
About Bell Copper
Bell Copper is a public company with a focus on copper exploration,
development and production in North America. The Company has an
extensive portfolio of exploration and development projects located in
some of North America's premier copper producing regions including
Mexico, the Southwestern US and Northwestern British Columbia.
More information on Bell Copper: href="http://www.bellcopper.net/">www.bellcopper.net
On behalf of the Board of Directors of
Bell Copper Corporation
Michael Werner, CEO & Director
"Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release."
SOURCE Bell Copper Corporation
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