LiteWave Corp.
OTC Bulletin Board : LTWV

May 04, 2010 10:32 ET

LiteWave Corp and Innus Historic Mining Exploration Agreement

BAIE-COMEAU, QUEBEC--(Marketwire - May 4, 2010) - LITEWAVE CORP. (OTCBB:LTWV) is pleased to report that is has signed an historic mining exploration agreement with the Innus of Pessamit in the Province of Québec.

The agreement provides Litewave with the consent of the Innus to carry out its mining exploration campaigns on the ancestral lands of the Innus of Pessamit. Recognizing the benefits of working together, Litewave and the Innus have agreed to put in place a definitive agreement detailing their collaboration in the development of the economic potential of the mining resources located on the ancestral lands, pursuant to which Litewave will undertake to communicate its exploration plans and results to the Innus in a timely manner.

"This agreement will be beneficial to the communities along the North Shore of Quebec, the Innus of Pessamit, the population of the port town of Baie-Comeau and to all Litewave shareholders," stated Mark Billings, Litewave's CFO.

Chief Raphaël Picard of the Innus of Pessamit added, "This agreement will allow the Innus of Pessamit to participate in the economic benefits of Litewave' projects, to participate directly in the investment opportunities and to offer to Litewave's the possibility of eventually constructing production infrastructures on our territory." The Pessamit territory is either near or encompass Litewave's Manicouagan group of properties on the North Shore of Quebec. It covers an area of 145,000 km2 and is inhabited by 4,000 members of the Innu Nation.

The company would also like to inform its shareholders that the audited financials for FY 2009 are being completed and delays were mostly due to the efforts needed in the final transition between the new and old management. Future plan of actions, corporate actions and updates on the on-going exploration campaigns will be communicated to the public during the month of May.

ON BEHALF OF THE BOARD OF DIRECTORS

Mark Billings, Director & CFO

About Litewave Corp

Litewave is a junior Platinum, Palladium, Rhodium, Copper, Cobalt and Nickel explorer with projects in Quebec, Canada. Headquartered in Vancouver, Canada, the company's stock is traded Over the Counter in the United States (US OTC) under the symbol LTWV. It owns jointly with St-Georges Platinum (CNSX: SX) the Villebon property in Abitibi Quebec and optioned from the same company eight North Shore properties that constitute the Manicouagan constellation near the deep sea port town of Baie-Comeau. 

Forward looking Statement:

This document contains certain forward looking statements which involve known and unknown risks, delays, and uncertainties not under the Company's control which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or expectation implied by these forward looking statements.

Neither CNSX nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.

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