SUDBURY, ON, Aug. 28 /CNW/ - Canadian Arrow Mines, Ltd. (CRO: TSX-V) The
Company has acquired a 100% interest in the Glatz Property located 35 km south
of Dryden, Ontario in the vicinity of the Kenbridge Deposit. Previous
exploration efforts identified nickel-copper sulphide mineralization in twelve
trenches along a 700 metre trend. The zone, discovered in 1965 by local
prospector A. Glatz, is up to 40 metres wide and is open along strike and at
depth. Historical grab samples were reported to contain up to 1.95% Ni. More
recent samples collected by the MNDM, (2001, Open File Report 6079), returned
values up to 1.01% Ni. The mineralization varies from disseminated sulphides
to narrow semi-massive sulphide bands.
The Glatz property is situated in an area of excellent infrastructure on
one unpatented claim consisting of 15 claim units. The property option
requires payments from the company totaling $50,000 and 150,000 shares over a
three-year period and the Company has to spend $100,000 in exploration
expenditures over a four-year term. Once the Company exercises the option, the
vendors will retain a 2% net smelter return royalty on these properties. The
transaction is subject to regulatory approval.
Todd Keast, the Vice President of Exploration stated "The Glatz showing
fits the exploration mandate and complements the company's larger objective of
developing the Kenbridge Deposit into an operating mine with a central milling
facility. Delineating a nickel resource at Glatz or one of our other grass
roots properties will enhance the long term viability of the Kenbridge
The exploration program is being carried out under the direction of The
Company's Vice President of Exploration, Todd Keast; P. Geo., a qualified
person as defined by National Instrument 43-101. The information in this
release was prepared under the direction of Kim Tyler; P. Geo., President of
the Company, a qualified person as defined by National Instrument 43-101.
About Canadian Arrow Mines, Ltd.
Canadian Arrow Mines, Ltd. is an established Canadian exploration and
development Company committed to developing and advancing base metal deposits
close to existing infrastructure through exploration, development and
acquisition. Shares of Canadian Arrow Mines trade on the TSX Venture Exchange
under the symbol "CRO".
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This news release may contain certain "Forward-Looking Statements" within
the meaning of Section 21E of the United States Securities Exchange Act of
1934, as amended. All statements, other than statements of historical fact,
included herein are forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such statements. Important factors that could cause
actual results to differ materially from the Company's expectations are
disclosed in the Company's documents filed from time to time with The TSX
Venture Exchange, Canadian Securities Commissions, and the United States
Securities & Exchange Commission. Not to be construed as an offer to buy or
sell securities of this company.
For further information:
For further information: visit the website at www.canadianarrowmines.ca;
or call toll free, 1-877-262-6354, or contact: Canadian Arrow Mines, Ltd., R.
Kim Tyler, P. Geo, President, Tel: (705) 673-8259, E-mail:
firstname.lastname@example.org; CHF Investor Relations, Barry Leung, Tel: (416)
868-1079 x247, E-mail: email@example.com or Cathy Hume, CEO, Tel: (416) 868-1079
x231, E-mail: firstname.lastname@example.org