Atikwa Minerals Corporation

Atikwa Minerals Corporation

July 16, 2008 10:57 ET

Atikwa Minerals Corporation-News Release

TORONTO, ONTARIO--(Marketwire - July 16, 2008) - Atikwa Minerals Corporation ("Atikwa" or the "Company") (TSX VENTURE:ATK) announces that it has entered into an option agreement with Howard J. Coates, an arm's-length party, to acquire mineral rights for two non-contiguous mineral claim blocks covering an area of approximately 500,000 hectares or 50 km2 known as the Burnt Stump and Black Hill Properties near Conception Bay, Newfoundland (the "Properties"). The main exploration target type on the Burnt Stump property is porphyry Cu-Mo-Ag-Au mineralization. The main exploration target type on the Black Hill property is unconformity-related uranium.

Atikwa can acquire a 100% interest in the Properties, subject to a 2.0% Net Smelter Return Royalty ("NSR"), by making the cash payments outlined below

a) $3,000 following receipt of TSX Venture Exchange approval.

b) $10,000 on or before July 15, 2009

c) $20,000 on or before July 15, 2010

d) $25,000 on or before July 15, 2011

Atikwa has the right to purchase 50% of the 2.0% NSR for the amount of $2,000,000. The Company has also signed a contract to complete a $50,000 Phase 1 work program on the Properties which will commence following receipt of TSX Venture Exchange approval of the option agreement.

Issued and Outstanding - 34,490,345 common shares.

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

Contact Information

  • Atikwa Minerals Corporation
    Bradley Kipp
    Chief Financial Officer
    (416) 847-4866