CaiTerra International Energy Corporation
TSX VENTURE : CTI

CaiTerra International Energy Corporation

December 17, 2012 09:00 ET

CaiTerra International Energy Acquires Undeveloped Mineral Rights in Faust Area of Alberta From First Mountain Exploration

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 17, 2012) - CaiTerra International Energy Corporation ("CaiTerra" or the "Company") (TSX VENTURE:CTI) is pleased to announce that it has completed its previously announced acquisition of certain undeveloped mineral rights in the Faust area of Alberta (the "Faust Property") from First Mountain Exploration Ltd. ("First Mountain") (TSX VENTURE:FMX) for the purchase price of approximately of $2.5 million in cash.

The Faust Property is located just north of the prolific Swan Hills oil field and south of the Town of Slave Lake. The lands forming the Faust Property are Crown leases with varying expiry dates. The Faust Property comprises approximately 18,600 net acres (approximately 30 sections) of lands of interest that are not subject to expiry for the next 3 years and a further 3,840 net acres (6 sections) of lands of interest that have been continued through to the end of April 2013.

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

  • CaiTerra International Energy Corporation
    Craig Robson
    (778) 329-9629