TORONTO, June 20, 2012 /CNW/ - Strata Minerals Inc. (TSX-V: SMP) ("Strata" or the "Company") is pleased to announce that it has entered into a native title heritage agreement with the Yamatji Marlpa Aboriginal Corporation ("YMAC"). This agreement, part of the consultative process under Australian native title legislation, enables the Western Australian Department of Mines and Petroleum to grant the two exploration tenements applicable to the Phase 1 field work on the Company's 80% owned Cardabia Phosphate Project located near Exmouth in Western Australia (the "Cardabia Project").
Further to the agreement, the Company and YMAC, the designated representative for the Gnulli aboriginal community local to the land surrounding the Cardabia Project, will now conduct a joint site survey of the property to identify aboriginal areas of significance that are to be avoided during the Phase 1 field work. In parallel to this final phase of the aboriginal approval process, the Company is submitting its Permit of Work to the Department of Mines and Petroleum for approval. The Company is working to secure the earliest possible date for the site survey, so as to expedite receipt of final approvals.
South Boulder Mines Ltd. maintains a 20% interest in the Cardabia Project and executed the heritage agreement on behalf of the joint venture.
Peter Kozicz, President & CEO of Strata, stated, "We are pleased to reach this milestone, clearing the path for work to begin in earnest on the Cardabia Project. During this permitting period our team in Australia continues to analyze the historical exploration data available on the Cardabia Project. This effort has assisted our preparation for the Phase I field work on the property, increased our understanding of the geology and aided in the selection of our drill hole targets."
About Strata Minerals Inc.
Strata Minerals Inc., is an emerging, Australasia focused, agricultural nutrient company exploring for commercial scale phosphate rock mineralization deposits. Armed with the objectives of becoming a supplier to the global fertilizer industry and generating wealth for its shareholders, Strata is currently advancing its phosphate exploration projects in Western Australia and Queensland and intends to broaden its focus to other agricultural nutrients including potash and lime. All references to the Company in this release include the Company's wholly owned Australian subsidiary, Strata Minerals Limited. For further information, please refer to the Company's website at www.strataminerals.com.
Special Note Regarding Forward-Looking Statements
Certain statements included herein constitute forward-looking statements. The words "expect", "intend", "anticipate", "propose" and "may" and similar expressions identify forward-looking statements. Forward-looking statements include, among other things, statements regarding the permitting, development and operation of Strata's mineral properties. Forward-looking statements are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management teams of Strata, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks and accordingly may not occur as described herein or at all. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements.
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 news release.
For further information:
Peter Kozicz, President & CEO
Tel: 1 416 460-1159
Email: [email protected]
Brent Lokash, EVP & CFO
Tel: 1 604 862-5190
Email: [email protected]