SOURCE: Longview Capital Partners Incorporated

November 26, 2007 14:00 ET

Longview Capital Partners Congratulates Macarthur on $110 Million Deal

VANCOUVER, BC--(Marketwire - November 26, 2007) - Longview Capital Partners Incorporated (TSX: LV) (FRANKFURT: L6V) congratulates Macarthur Minerals Ltd (TSX-V: MMS) on the heads of agreement signed with LPD Holdings (Aust) Pty Ltd. potentially worth $110 million on the Lake Giles magnetite iron ore project in Western Australia. The agreement could result in LPD acquiring an 80% interest in the project for $110 million, with Macarthur retaining a 20% free-carried/non-dilutive interest. The Lake Giles project covers 1,155 square kilometres and hosts an initial inferred-mineral resource of 82.5 million tonnes at a grade of 24.6 percent Fe, representing magnetic concentrate of 18.46 million tonnes at a grade of 63.1 percent Fe. Highlights of the agreement include:

* $1 million non-refundable deposit for a 4-month due diligence period, including a 6-tonne sample to be sent to China for testwork

* $9 million to purchase 30% of the Lake Giles project

* $8.5 million of this $10 million is to be directed to drill-out/exploration of the iron deposits at Lake Giles

* Once 500 million tonnes of iron ore is delineated, LPD can pay $100m for another 50%

* Macarthur has proposed to distribute at least 80 percent of these funds to shareholders.

Longview Capital Partners was an early investor in Macarthur starting in November 2005, and has assisted Macarthur with both investor relations and strategic advice. As of September 30, 2007, Longview Capital Partners held 13.1% of Macarthur's issued shares. Macarthur's strategy is one of many potential outcomes for junior resources companies and one that Longview Capital Partners wholeheartedly supports. "Macarthur has continued the steady development of Lake Giles iron-ore potential for 3 years which is a tribute to the management team there," says Damien Reynolds, Chairman and CEO of Longview Capital Partners. "The market capitalization of Macarthur is less than $20 million, but they have now established a valuation of $137.5 million for the entire Lake Giles project -- a multiple of 7 times the current market price for the Company."

About Longview Capital Partners

Longview Capital Partners is a global resource group which selectively invests in private or undervalued assets, augment management teams with our expertise and assist in the going public process. Once public, Longview Capital Partners continues to invest and brings an awareness of each opportunity to our network of retail and institutional investors. Longview Capital Partners was recently named to both the Top 50 Fastest Growing Companies and the Top 50 Strongest Companies by the Vancouver Sun.

For more information on Longview Capital Partners Incorporated, please contact Mr. Spiro Kletas, Investor Relations, at (604) 681-5755 or visit our website at

Statements in this news release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. Such statements are based on numerous assumptions and are subject to all the risks and uncertainties inherent in the Company's business, including risks related to mineral exploration and development. Consequently, actual results may vary materially from those described in the forward-looking statements.

The TSX Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • For more information on Longview Capital Partners Incorporated, please

    Mr. Spiro Kletas
    Investor Relations
    (604) 681-5755