Cartier Resources Inc.
TSX VENTURE : ECR

Cartier Resources Inc.

May 28, 2009 15:21 ET

Cartier Resources Announces Amendment of Manneville-Villemontel Option Agreement

VAL-D'OR, QUEBEC--(Marketwire - May 28, 2009) - Cartier Resources Inc. ("Cartier")(TSX VENTURE:ECR) is pleased to announce that Xstrata Canada Corporation - Xstrata Zinc Canada Division ("Xstrata Zinc") and Cartier have amended the agreement signed on February 7th, 2008 and summarized in its February 11th, 2008 press release. The agreement entitles Cartier an option to acquire a 100% interest in five blocks of map designated claims totalling 50 units and covering approximately 2,088 hectares (the "Xstrata-Option Property"). In order to acquire a 100% interest in the Xstrata-Option Property, the original agreement stipulated that Cartier must incur work expenditures thereon totalling $1,000,000 on or before December 31, 2010. The amendment adds one full year to the remaining exploration work requirements. All other provisions of the original agreement remain in full force and effect.

The amended agreement requires Cartier to have incurred exploration expenses pursuant to the following revised schedule:

- an aggregate amount of at least $100,000 on or before December 31, 2008;

- an aggregate amount of at least $400,000 on or before December 31, 2010;

- an aggregate amount of at least $1,000,000 on or before December 31, 2011.

As at December 31, 2008, the Company had carried out $121,844 of exploration work on the Xstrata-Option Property.

The Xstrata-Option Property is also located in the Abitibi, in the north-western region of Quebec. All blocks of this property are contiguous to Cartier's Kinojevis project. Three blocks to the west lie along strike of Cartier's recent gold discovery in the MacCormack area. The Zone (refer to November 11th, 2008 press release and project summary on Cartier's website) was discovered within a corridor of carbonate-talc-chlorite and fuchsite altered schistose mafic rocks and hosts wide-low grade intersections including local higher grade sections. The shear zone varies from 100 to 300 meters in width and is now seen to outcrop over 8 kilometers. It is believed to be the extension of the prolific Porcupine-Destor fault. The shear is bounded to the north by an ankerite-albite altered syenitic dyke ensemble strewn with gold-bearing quartz-pyrite veins and veinlets.

This press release was prepared by Mr. Philippe Berthelot, P. Geo. The Xstrata-Option Property exploration program is conducted under the supervision of Mr. Berthelot, qualified person as defined by National Instrument 43-101.

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

Contact Information

  • Cartier Resources Inc.
    Philippe Cloutier
    President and CEO
    819-874-1331
    819-874-3113 (FAX)
    Toll free: 877-874-1331