American Bullion Minerals Ltd.

October 08, 2010 14:10 ET

American Bullion Minerals Announces Loan from Red Chris

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 8, 2010) - American Bullion Minerals Ltd. ("ABML" or the "Company") announces the Company entered into a loan agreement (the "Loan Agreement") with Red Chris Development Company Ltd. ("Red Chris") under which Red Chris has agreed to advance to the Company a loan of up to $200,000 (the "Loan") in tranches of $50,000 each. The Loan bears interest at the rate of 10% per year, calculated monthly, matures on December 31, 2010 and is secured by a general security agreement creating a charge over all of the Company's assets. ABML intends to use the proceeds from the Loan for working capital.

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  • American Bullion Minerals Ltd.
    Brian Kynoch