Crown Minerals Inc.

March 04, 2010 16:18 ET

Crown Minerals Closes Agreement to Acquire Gold Exploration Claims Adjacent to Trelawney's Chester Project Discovery

TORONTO, ONTARIO--(Marketwire - March 4, 2010) - Crown Minerals Inc. ("Crown" or the "Company") (TSX VENTURE:CWM) is pleased to announce that it has closed the agreement dated December 18, 2009 between Crown and Pierre C. Robert, Yvan Denis Veronneau and Steve Anderson to acquire a 100% interest in three (3) unpatented gold exploration claims (covering 14 claim units) in Yeo and Chester Townships near Timmins, Ontario. TSX Venture Exchange approval has also been received.

Crown paid $15,000 in cash and issued 150,000 shares to the vendors. The vendors will retain a 2% net smelter returns royalty, one half of which can be purchased for $1,000,000.

These claims are adjacent to the eastern border of the Chester Project owned by Trelawney Mining and Exploration Inc. Trelawney recently reported intersecting 107.1 meters of 8.2 grams per tonne of gold (uncut), including 313.5 grams per tonne of gold over 2.56 meters from drilling on its Chester Project (see Trelawney news release dated March 3, 2010).

Crown is currently drawing up exploration plans for this property and will be announcing these plans in the near future.

Crown is exploring for gold and base metals in both Ontario and Nevada. For more information please see the Crown website at

This release was prepared by management of the Company who take full responsibility for its contents.

Forward Looking Information: This news release may contain or refer to forward-looking information. All information other than statements of historical fact that address activities, events or developments that Crown Minerals believes, expects or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond Crown Minerals' ability to control or predict that may cause actual events or results to differ materially from those discussed in such forward-looking statements. Any forward-looking statement, speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Crown Minerals disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although Crown Minerals believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be placed on these forward-looking statements due to the inherent uncertainty therein.

The TSXV has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Crown Minerals Inc.
    Mr. Stephen Dunn
    President and CEO
    (416) 822-3343