TSX Venture Exchange: MHI
Frankfurt Stock Exchange: N8Z/WKN: AODLHP
Pink Sheets: MHIFF
VANCOUVER, Sept. 21 /CNW/ - Mineral Hill Industries Ltd. ("MHI" or "Company") wishes to announce that it has entered into an agreement to acquire the "Athona Property" claims which represent additional lithium occurrences. These claims are only three kilometers east of MHI's "International Lithium Property" and approximately thirty five kilometers from MHI's "Chubb Lithium Property", announced on August 17th 2009.
The Athona Property is comprised of twenty nine mineral claims covering approximately 1,283.64 hectares. The property is located in the northwestern part of Quebec, approximately 40 kilometers northwest of the mining town of Val d'Or. MHI's third lithium property is also well positioned with respect to access roads and transportation and is only 10 kilometers west of the Quebec Lithium Mine deposit. (N.T.S map-sheet 32D/08 & 32C/05).
The Option Agreement (the "Agreement") to acquire 100% interest in and to all 29 registered and 4 pending contiguous mineral claims of the Athona Property is subject to board of directors and regulatory approvals and in consideration of MHI making cash payments in the amount of $60,000 and issuing 450,000 common shares to the Optionors over three years from the effective date of the regulatory approval of the Agreement.
Mr. Dieter Peter, Chairman and CEO of MHI said: "The regional area is well known to host rare element and lithium deposits where several major and small mines have been developed for lithium, gold and base metals."
Neither the 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 Mineral Hill Industries Ltd.
For further information: For further information: Dieter Peter, Chairman & CEO, Telephone: (604) 685-4170; John Punzo, Director, Telephone: (604) 685-4170