Symbol: CNG - TSX.V
VANCOUVER, June 19 /CNW/ - Canadian Mining Company has assembled a large
property package surrounding the past producing Bullard mine and has begun a
program aimed at bringing this prospect from exploration to discovery. Early
in 2007, CNG began initial geophysical exploration work at Bullard Pass, which
has confirmed some of the historical data. Based on the new geological model
of detachment faults, CNG has added to its land package around the Bullard
Pass and has embarked on a serious exploration program aimed at gold
The Bullard Pass property is in the vicinity of the Harcuvar and
Harquahala Mountains in Arizona. In 1992, the Arizona Geological Survey
Open-File Report 92-1 stated, "the mineralogic and structural similarities of
the Bullard and Copperstone districts suggest that potential exists for a
major gold deposit in the area of the Bullard district."
CNG has been largely restructured over the past year. As the company
advances its exploration on the Bullard Pass gold property, cash flow
continues to be generated from production of its commercial grade zeolite.
Industry uses zeolite in a wide range of applications, a list can be found at
the following link: http://www.nationalzeolite.com.
With cash on hand and cash flow generation, CNG has enough funding to get
initial work underway. Lithogeochemical work conducted by the company in April
will provide a structure for exploration targeting. Combined with new
understanding of detachment fault structures, the company is aiming to
identify a gold deposit exceeding the scale of the geologically similar
Copperstone Mine, a 500,000 ounce plus producer.
On behalf of the Board
Please see our web site for additional details www.canadianmining.ca
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
All statements, other than statements of historical fact, in this news
release are forward-looking statements that involve various risks and
uncertainties, including, without limitation, statements regarding the
potential extent of mineralization and reserves, exploration results and
future plans and objectives of Canadian Mining Company Inc. These risks and
uncertainties include, but are not restricted to, the amount of geological
data available, the uncertain reliability of drilling results and geophysical
and geological data and the interpretation thereof and the need for adequate
financing for future exploration and development efforts. 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. These and all subsequent written and oral forward-looking
statements are based on the estimates and opinions of management on the dates
they are made and are expressly qualified in their entirety by this notice.
The Company assumes no obligation to update forward-looking statements should
circumstances or management's estimates or opinions change.
For further information:
For further information: Ray Paquette at (604) 684-3301