Coronation Minerals Inc.

March 24, 2006 17:59 ET

Coronation Minerals Inc.: Acquisition of Remaining 50% of Coppermine River Project

TORONTO, ONTARIO--(CCNMatthews - March 24, 2006) - Coronation Minerals Inc. (TSX VENTURE:CMV) (the "Company") announces that it has received shareholder and regulatory approval to issue 6,000,000 common shares (the "Shares") in the capital of the Company to Guyana Goldfields Inc. ("GGI") in connection with the acquisition of certain mining claims. The Shares are to be issued pursuant to a letter agreement made as of April 29, 2005 between the Company and Coppercorp Inc. (a wholly owned subsidiary of GGI) providing for the acquisition by the Company of the remaining 50% interest in and to certain claims and leases in the Coppermine River Project, Nunavut, a transaction that was originally disclosed to the market in a press release on May 11, 2005. The transaction will close upon confirmation of the registration of the transfer in the Nunavut Mining Recorder's Office which is expected to occur sometime in late April, 2006.

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

Contact Information

  • Coronation Minerals Inc.
    Peter W. Holmes
    (520) 240-5306
    Coronation Minerals Inc.
    141 Adelaide Street West Suite 301
    Toronto, Ontario M5H 3L5