Conway Resources Inc.
TSX VENTURE : CWY

Conway Resources Inc.

February 08, 2010 07:00 ET

Conway Resources to Acquire Property North of First Gold Exploration Rare Metals and High Grade Lithium Discovery

QUEBEC CITY, QUEBEC--(Marketwire - Feb. 8, 2010) - Conway Resources Inc. (TSX VENTURE:CWY) is pleased to announce that it has signed an acquisition agreement under which the Company will acquire a 100% interest in 14 contiguous mining claims covering an area of 742 hectares in Eastmain township, just a few kilometers north of the First Gold property.

First Gold Exploration announced on January 21, 2010, the discovery of rare metals on its Pivert-Rose property in Quebec, along with up to 4.6 per cent lithium oxide. Following that new discovery, the company announced on January 25, 2010, the drill results on its hole LR-09-02 with 2,922 grams per ton of rubidium over 6.7 meters and on February 1, the drill result on its hole LR-09-10 with 3,558 g/t of rubidium over 13.5 meters.

The Company must pay to an arm's length party a total of $20,000 at the signing of the final agreement and an additional $20,000 and issue a total of 400,000 common shares at the transfer of the claims and approval of the regulatory authorities, including the TSX Venture Exchange. The Company will also pay a 5% finder's fee and issue an additional 20,000 common shares as part of the transaction.

The transaction is subject to approval from the TSX Venture Exchange.

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

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