TSXV : RBX
MONTREAL, Aug. 9 /CNW Telbec/ - Robex Resources Inc (TSX-V: RBX) is
pleased to announce that it has exercised its option to acquire a 51% interest
in the Sanoula property, West Mali, West Africa. Sanoula is located south of
the Yatela (reserve of 275Koz Au) and Sadiola (reserve of 1,7Moz Au) mines and
north of the Loulo mine (reserve of 7Moz Au), along the same Senegalo-Malian
shear zone. Drilling along this shear zone, within the Sanoula permit, yielded
promising gold results in mineralization typically found at the Loulo gold
Robex had the right to acquire this 51% interest after having filled its
- make an initial cash payment of US $75,000 (2005);
- spend US $725,000 in exploration work over a three-year period;
- make a payment of US $100,000, half in cash and the other half by the
issuing of 280 446 shares.
The Company can acquire the remaining 49% interest until February 28,
2008, by doing a cash payment of US $ 240,000.
Subject to the approval of regulatory authorities.
ON BEHALF OF THE BOARD
Richard Savard, Geologist, President and CEO
For further information:
For further information: Richard Savard, President and CEO, Montreal,
(514) 620-0850, firstname.lastname@example.org; M-C Poitras, Director Communications,
Quebec, (418) 870-1482, email@example.com; J. Stewart Robertson,
Director Business Development, Trenton, (613) 392-2646,