Gee-Ten Ventures Inc.
TSX VENTURE : GTV

Gee-Ten Ventures Inc.

September 16, 2008 14:16 ET

Gee Ten Ventures Options OX Claim Group From East West

TORONTO, ONTARIO--(Marketwire - Sept. 16, 2008) - Gee-Ten Ventures Inc. ("Gee-Ten" or the "Company") (TSX VENTURE:GTV) announced today that it has entered into a letter of intent with East West Resource Corp whereby Gee-Ten may earn the right to acquire up to 65% interest in the 16 claims (618 units) of the Ox Property in the Ox Lake area in the southern James Bay Lowlands.

Gee-Ten may earn a 50% interest by paying $150,000 in three installments, issuing 200,000 shares and spending $3.0 million over 3 years, an additional 10% by spending an additional $1.0 million and an additional 5% by completing a bankable feasibility study.

An initial $250,000 in-fill VTEM-Magnetic survey will be conducted immediately. Six strong EM conductors have been identified by a previous MKVI Input EM survey associated with magnetic bodies interpreted to be gabbro-pyroxenite, similar in setting to the Norton deposit (since the Gee Ten web site is under reconstruction please see East West's website for details, www.eastwestres.com).

The Agreement is subject to the approval of the TSX Venture Exchange.

ABOUT GEE-TEN VENTURES INC:

Gee-Ten Ventures Inc. is a Canadian exploration company, quoted for trading on tier 2 of the TSX Venture Exchange under the symbol GTV. The Company currently has 34,997,973 shares currently issued.

Forward Looking Statements

This news release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization, exploration results and future plans and objectives are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from expectations include our capacity to finance our operations, exploration risks, price of minerals and other commodities and other risks and factors detailed from time to time in our filings with securities regulators.

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

Contact Information

  • Gee-Ten Ventures Inc.
    Richard Hamelin CFO
    772-569-8388