Rocky Mountain Resources Corp.

Rocky Mountain Resources Corp.

October 09, 2009 17:00 ET

Rocky Mountain Announces Sale of Paris Hills Phosphate/Vanadium Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire – Oct. 9, 2009) - ROCKY MOUNTAIN RESOURCES CORP. (TSX VENTURE:RKY) is pleased to announce that its wholly-owned subsidiary, RMP Resources Corp. ("RMP"), has entered into an agreement with Stonegate Agricom Ltd. ("Stonegate") to sell a 100% interest in the Paris Hills Phosphate/Vanadium Property, located in Bear Lake County in Idaho, USA. As consideration for the acquisition, Stonegate will pay $1,000,000 in cash and issue 6,000,000 common shares of Stonegate valued at $0.50 per common share. Closing of the transaction, which is expected to occur on November 15, 2009, is subject to regulatory approval.

Stonegate is a private Canadian company engaged in the acquisition, exploration and development of agricultural nutrient projects. Stonegate's primary focus has been the development of the Mantaro Phosphate Project located in Peru. Stonegate's majority shareholder is Sprott Resource Corp. (TSX: SCP).


Brian J. McAlister, President

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