Coniagas Resources Limited

Coniagas Resources Limited

April 27, 2009 10:43 ET

Coniagas Resources Limited Enters into Consulting Agreement

TORONTO, ONTARIO--(Marketwire - April 27, 2009) - Coniagas Resources Limited (the "Company") (TSX VENTURE:CNY) is pleased to announce that the Company has entered into a geological consulting services agreement with Bedrock Capital Corporation (the "Consultant"), subject to acceptance for filing by the TSX Venture Exchange. Under the terms of the agreement, the Consultant will provide consulting services to the Company for a monthly fee of $7,000. The agreement has a three month term which renews every three months subject to termination by either party with two weeks written notice.

The Company has granted 500,000 stock options, pursuant to the terms and conditions of the agreement and the Company's stock option plan, exercisable until April 27, 2011, at an exercise price of $0.44 per share. The options vest as to one third every six months and the shares issuable upon exercise of the options are subject to a four month hold from the date of grant.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

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