CALGARY, July 24 /CNW/ - Vital Resources Corp. ("Vital") (CNQ Exchange -
VITL; Frankfurt Stock Exchange - VZN) is pleased to announce that it has
concluded a formal memorandum of understanding agreement dated July 21, 2008
(the "MOU") with Camus Resources SA. A final agreement will give Vital and its
shareholders 100% ownership of one of the key bauxite deposits in Western
The concession is approximately 1000 square km in size and has had
extensive geological and exploration work completed to date.
"This is an incredible opportunity for Vital and our shareholders. We
know this diversification may have been unanticipated, but our shareholders
will gain full appreciation of the potential in the very near future once we
announce more specifics about the opportunity, said Michael Whitehead,
President and CEO. This bauxite deposit is world class. Cameroon as well as
this deposit contains some of the highest grade bauxite in the world. This
coupled with the growing demand for aluminum makes this opportunity
Vital will continue to work on closing the potential acquisition of Ramok
and Senabing oil and gas fields in Sumatra, Indonesia with their extended
team. Recently, encouraging drilling results and geological evaluations have
led the team to extend the potential closing.
Vital Resources is a Calgary based international resource development and
exploration company focused building and developing shareholder value.
The CNQ Exchange does not accept responsibility for the adequacy or
accuracy of this release.
For further information:
For further information: Michael Whitehead, President & CEO, Vital
Resources Corp., Kevin Worth, Investor Relations, Phone: (403) 668-1645,
Email: email@example.com, Website: www.vitalrescorp.com