Amerpro Resources Inc.
TSX VENTURE : AMP.A

July 20, 2009 20:47 ET

CORRECTION: Amerpro Announces Lithium Property Acquisition

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 20, 2009) - A correction is issued with respect to the news release that was disseminated for Amerpro Resources Inc. (TSX VENTURE:AMP.A) today at 8:06 PM ET. There have been changes to the release. The corrected release follows:

AMERPRO RESOURCES INC. (TSX VENTURE:AMP.A) (the "Company") - Donald Gee, President is pleased to announce that the Company has signed a Binding Letter Agreement to option, from GeoXplor Corp. (the "Optionor"), a private company, 100% of seventy mineral claims located in Esmeralda County, Nevada, USA. The property comprises 11,200 acres in the Big Smokey Valley which is adjacent to the Clayton Valley, location of the only Lithium brine operation in the United States, the Chemetall-Foote Silver Peak operation. The property was acquired due to the proximal location of a gravity low as defined by the US Geological Survey and its potential as a trap for lithium rich brines.

In order to acquire 100% ownership, the Company must, over a four year period, pay a total of $285,000 US to the Optionor, issue 1.25 Million common shares of the Company and spend a minimum of $1.2 M US in exploration costs. The Optionor retains a 2% Net Smelter Return which may be purchased for $1 M US for each one percent.

The Option is subject to the execution of a Definitive Option Agreement within 30 days, TSX Venture Exchange approval and due diligence by the Company. A finders' fee is payable subject to regulatory approval.

Donald Gee, President said, "This Lithium project is the first step towards moving the Company's business towards being a resource issuer focused solely on the development of Lithium, which is in high demand globally."

ON BEHALF OF THE BOARD

Donald Gee, President, CEO and Director

Neither 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

  • Amerpro Resources Inc.
    Mr. Donald Gee, B.Sc. (Geology), C.A.
    President
    604-618-3433
    604-646-0640 (FAX)