Conway Resources Inc.

Conway Resources Inc.

July 12, 2010 06:00 ET

Conway Resources Becomes the Owner of the Belleterre Mine

QUEBEC CITY, QUEBEC--(Marketwire - July 12, 2010) - Conway Resources Inc. ("Conway" or the "Company")(TSX VENTURE:CWY) is pleased to announce that it has merged with Belleterre Mining Resources Inc. following the purchase of all the issued and outstanding shares of the latter on June 30. Conway has also transferred mining concessions 315 and 395 in Guillet Township, known and designated as the Belleterre Mine with the claims registry of Quebec's Ministère des Ressources naturelles et de la Faune, to become the sole owner of the mine.

In the coming weeks, the Company will compile the results of work it has done on the property over the last two years. This work consists of 62 km of line cutting and induced polarization geophysical surveys, as well as more than 5,500 metres of drilling. This compilation will enable Conway to update the results obtained and the property's gold potential, and will be used to plan the next phase of work.

Discovered in 1930 by McIntyre Porcupine Mines, the Belleterre mine was in production from 1936 to 1959. During this period, the mine produced 2.18 million tonnes of ore at an average grade of 9.95 g/t Au. Approximately 95% of the ore was mined from Vein 12. Previous reports indicate the existance of at least 21 other veins on the property.

The geological information is taken from the NI 43-101 technical report for the Belleterre mine property authored by Alain-Jean Beauregard and Daniel Gaudreault, Ing., of Géologica Groupe-Conseil Inc. of Val-d'Or. Jean-Louis Robert, D.Sc. Geol., Vice President, Exploration of Conway and a qualified person under National Instrument 43-101, has reviewed the contents of this press release.

Forward-Looking Statements

This press release contains certain forward-looking statements that might involve uncertainty, time frames, and/or known and unknown risks beyond the Company's control. The Company's actual results, performance and achievements may differ materially from the results, performance and achievements implied by such forward-looking statements. Factors that could cause actual results to differ from those implied by forward-looking statements include, in particular, changes in the market gold price, the value of the Canadian dollar or the grade of the ore mined and unanticipated difficulties in mining activities that could have an impact on operating revenues and costs, as well as uncertainty regarding government regulations.

Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.

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