Takara Resources Inc.
TSX VENTURE : TKK

Takara Resources Inc.
St. Eugene Mining Corporation
TSX VENTURE : SEM

October 30, 2009 15:54 ET

St. Eugene Announces New Appointments and Stock Option Grant

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 30, 2009) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

ST. EUGENE MINING CORPORATION (TSX VENTURE:SEM). Jennifer Boyle, President and Chief Executive Officer, announces that the Company has begun to implement its business development objectives in respect of the Tartan Lake Mine, and other prospective assets that may be complimentary to the Company's current projects.

Pursuant to the recently announced transaction with Takara Resources (TSX VENTURE:TKK) on October 26, 2009, Mr. Gary Hawthorn has resigned as a member of the board of directors and Pamela Strand, P. Geol., has been appointed to fill the vacancy.

Julie Lassonde has been appointed as an advisor and consultant to the Company to focus on business development and corporate finance matters. Ms. Lassonde, President of Garson Gold Corp. (TSX VENTURE:GG), was instrumental in negotiating the recent offer to acquire all of the issued and outstanding shares of Garson Gold. On October 20, 2009 Garson Gold announced that there was a friendly take-over offer for its shares at a premium to the current market capitalization.

Additionally, Terry Tucker, P. Geo. has joined the Company as an advisor and consultant. Mr. Tucker is the former President and Chief Executive Officer of StrataGold Corporation before it was purchased by Victoria Gold Corp. on June 4, 2009. Mr. Tucker will be instrumental in several components of the Company's business, including corporate finance, marketing, and geological matters.

The Company has granted, subject to regulatory approval, the issuance of 1,950,000 incentive stock options to officers and directors, and 750,000 to consultants, pursuant to the Company's Stock Option Plan. The options will have an exercise price of $0.10 per share and will expire five years from the date of the grant.

This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding the business and financing plans of the Company, timing of future activities by the Company, future anticipated exploration program or mining results, the discovery and delineation of mineral deposits or resources, potential mining scenarios, the success of mineral processing procedures and, business trends and future operating costs. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to, the state of the market for gold or other minerals that may be produced generally, recent market volatility, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's ability to obtain any necessary permits, consents or authorizations required for its activities, to raise the necessary capital or to be fully able to implement its business strategies and other risks associated with the exploration and development of mineral properties. The reader is referred to the Company's most recent annual and interim Management's Discussion and Analysis for a more complete discussion of such risk factors and their potential effects, copies of which may be accessed through the Company's page on SEDAR at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Jennifer L. Boyle, B.A., LL.B.
    President and Chief Executive Officer
    (647) 430-0966 (work)
    416-904-2714 (cell)
    jennifer@capexgroupinc.com
    or
    Rolly Trenaman
    Chairman of the Board
    (604) 669-5775
    tms1@telus.net