Symbol: CNG - TSX.V
VANCOUVER, May 7, 2012 /CNW/ - Canadian Mining Company Inc. (TSX.V: CNG), President and CEO, Ray Paquette is pleased to report a Joint Venture Agreement on the Company's Bullard Pass Gold Project is being finalized with Aureus Resources Inc.
This agreement is a win-win for both Canadian Mining and Aureus. Aureus is a privately held company going public which requires a project of merit. The 43-101 qualified Bullard Pass Gold Project represents a company building opportunity for Aureus. The 1992 Arizona geological Open-File Report 92-1 states "the mineralogic and structural similarities of the Bullard and Copperstone districts suggests that potential exists for a major gold deposit in the area of the Bullard district."
Canadian Mining benefits by Aureus investing money into further exploration at the Bullard while still retaining a position in the property. Furthermore, it will allow Canadian Mining's team to focus on the development of the Sun Group Zeolite Project which is garnering International attention.
Terms of the agreement will be made public upon completion of documentation.
On behalf of the Board
Ray Paquette CEO
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.
For further information:
Mr. Ray Paquette 604.684.3301