EagleRidge Minerals Ltd.

EagleRidge Minerals Ltd.

September 08, 2009 09:06 ET

EagleRidge Minerals Options Freeman and Bolger Claims in the Rice Lake Greenstone Belt of Southeast Manitoba

PINAWA, MANITOBA--(Marketwire - Sept. 8, 2009) - EagleRidge Minerals Ltd. ("ERM" or the "Company") is pleased to announce that it has finalized an option agreement with Central Consolidated Resources ("CCR") for two claim groups in the Rice Lake greenstone belt of southeast Manitoba.

The Freeman and Bolger mineral claims are located near Bissett, Manitoba. The mineral claims consist of the seven (7) contiguous Freeman claims covering an area of 1707 hectares. These claims are located 1,500 metres to the northeast of the active mineral lease and mining activities of the San Gold Corporation. The five (5) Bolger claims cover 468 hectares and are located 13 kilometres to the west-southwest of the above mentioned mineral lease. Both claim groups are in very active areas for gold exploration.

The agreement allows ERM the right to acquire 100% of the properties by completing $520,000 in exploration over the next two years and by providing CCR with $200,000 and 700,000 shares over the same time period. CCR will retain a 3% net smelter royalty and an area of interest royalty. ERM has the option to purchase half of the CCR royalty for $1,500,000.

At present ERM holds or has optioned a total of 18,000 hectares of mineral claims in the Rice Lake greenstone belt. This ground holds potential for new gold discoveries. The region is presently seeing a great deal of exploration activity and interest from numerous companies. The addition of the Freeman-Bolger claims has strengthened ERM's land holdings in belt.

Prospecting and geological exploration teams will soon be deployed on the new claims.

Carey Galeschuk, P.Geo, ERM President and COO, is the qualified person under the definition of NI 43-101 for these projects.

About EagleRidge Minerals Ltd.

ERM is presently a privately traded company. The Company is focused on gold and base metal mineral exploration in the provinces of Manitoba and Newfoundland. The company operates exploration office in both Manitoba and Newfoundland.

Caution Concerning Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable US and Canadian securities laws. Assumptions that have been made still require to be proven from field investigations. Management believes there is strong potential with regard to economic mineralization being found on their mineral exploration properties however this can only be proven through progressive field exploration and geological investigations. The statements in this release contain information that has known and unknown risks, uncertainties and other factors that may cause actual results to be different from those presented in this release. All investments carry a certain level of risk that cannot be considered to be under the control of EagleRidge Minerals Ltd.

Contact Information

  • For further information about the Company,
    technical questions or investments, please contact:
    EagleRidge Minerals
    Carey Galeschuk, P.Geo, President and COO
    cgaleschuk@eagleridgeminerals.com