Carlaw Capital Corp.

July 11, 2007 13:50 ET

Carlaw Capital Corp. Announces Qualifying Transaction

TORONTO, ONTARIO--(Marketwire - July 11, 2007) - Carlaw Capital Corp. ("Carlaw" or the "Corporation") (TSX VENTURE:CLW.P) is pleased to announce that it has entered into a letter of intent with Nyah Resources Inc. ("Nyah Resources"), and certain of its principal shareholders pursuant to which Carlaw will complete a business combination to acquire Nyah Resources (the "Proposed Transaction"). When completed, the Proposed Transaction will constitute Carlaw's Qualifying Transaction pursuant to the policies of the TSX Venture Exchange (the "TSXV"), and is subject to compliance with all necessary regulatory approvals and certain other terms and conditions.

A comprehensive press release with further particulars relating to the Proposed Transaction will follow in accordance with the policies of the TSXV.


Nyah holds a 100% interest in the Agnew Lake Uranium Property (the "Property"), consisting of 7 unpatented mining claims (3,080 acres) located in Hyman and Porter Townships approximately 40 kilometers west of Sudbury, Ontario. The Property encompasses the past producing Agnew Lake Uranium Mine. The Agnew Lake Mine was operated by Kerr Addison Mines Ltd between 1977 and early 1983 and produced 1.9 million lbs of uranium from a combination of surface and in-situ leach. The Property has substantial underground infrastructure in place including a six compartment shaft to a depth of over 980 metres with development on several levels. A decline from surface to the 1,900 foot level was also developed.

At Agnew Lake, the uranium-rare earth mineralization is contained within a pyritic quartz-pebble conglomerate that conformably overlies granitic rocks and is similar to mineralization in the Elliot Lake area to the west of the Property. Nyah is currently drilling the Property to confirm uranium values and associated rare earth mineralization and expects to complete a NI 43-101 technical report on the Property within the next two months. In addition to the past producing uranium mine, the Property covers approximately 6 km of favourable uranium-mineralized horizon.

Nyah has 39,149,563 shares issued and outstanding and on a fully diluted basis 56,399,126 shares would be issued.


Carlaw Capital Corp. is a capital pool company ("CPC") formed under the TSXV CPC program.

Completion of the proposed transaction is subject to a number of conditions, including but not limited to, TSXV acceptance. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the information circular to be prepared in connection with the proposed transaction, any information released or received with respect to the proposed transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a CPC should be considered highly speculative.

Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Corporation assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Corporation. Additional information identifying risks and uncertainties is contained in the Corporation's filings with the Canadian securities regulators, which filings are available at

The TSXV has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. The TSXV does not accept responsibility for the adequacy or accuracy of this press release.

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