Kria Resources Ltd.
TSX VENTURE : KIA

Kria Resources Ltd.

July 24, 2009 08:08 ET

Kria Resources to Commence Trading on TSX Venture Exchange

TORONTO, ONTARIO--(Marketwire - July 24, 2009) - Kria Resources Ltd. (TSX VENTURE:KIA) ("Kria") is pleased to announce that following the closing of its business combination (the "Reverse Take-Over") with Beartooth Platinum Corporation ("Beartooth"), Kria common shares will commence trading on the TSX Venture Exchange under the stock symbol KIA at market open on Friday, July 24, 2009 and the common shares of Beartooth will be delisted.

In connection with the Reverse Take-Over, Beartooth consolidated its share capital on the basis of one new common share for every 20 old common shares and changed its name to Kria Resources Ltd.

About Kria Resources

Kria Resources is a base metal exploration and development company focused on high-quality, advanced-stage base metal assets. Kria's primary asset is the Halfmile Lake and Stratmat properties near Bathurst, New Brunswick. The Halfmile Lake property has a NI 43-101 compliant Indicated mineral resource estimate of 6.26 million tonnes grading 8.13% zinc, 2.58% lead, 0.22% copper and 30.78 g/t silver using a 5.0% capped zinc equivalent cut-off grade and an Inferred resource estimate of 6.08 million tonnes grading 6.69% zinc, 1.83% lead, 0.14% copper and 20.51 g/t silver using a 5.0% capped zinc equivalent cut-off grade. The Stratmat property has an Inferred Mineral Resource estimate of 5.52 million tonnes grading 6.11% zinc, 2.59% lead, 0.40% copper and 54.21 g/t silver using a 5.0% zinc equivalent cut-off grade. Results from the Preliminary Economic Assessment (PEA) on Halfmile are expected to be released shortly.

Kria also has the Ruttan copper-zinc sulphide project near Leaf Rapids, Manitoba that has NI 43-101 compliant mineral inferred resource estimate of 19.75 million tonnes grading 1.17% copper and 1.47% zinc using a 1.0% capped copper equivalent cut-off grade.

Through its recent combination with Beartooth Platinum, in Montana, USA, Kria controls 1,054 unpatented lode mineral claims over the exposed 50-km strike length of the Stillwater Intrusive Complex. As disclosed in a press release dated June 15, 2009, Kria has entered into a Letter of Intent with Nevoro Inc. regarding the proposed sale of the Stillwater Complex. The sale remains subject to, among other things, satisfactory due diligence and any required regulatory approvals.

Please visit our website at www.kriaresources.com for additional information.

Quality Control

The technical contents of this press release have been supervised and reviewed by Steve Davies, P. Eng., Vice President Operations of Kria and Dayle Rusk, P. Geo., Vice President Exploration of Kria, both of whom are Qualified Persons as defined under NI 43-101.

Cautionary Note Regarding Forward-Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the future financial or operating performance of Kria and its projects, statements regarding exploration prospects, statements regarding synergies and financial impact of the proposed transaction, the terms and conditions of the transaction, the benefits of the proposed transaction, the identification of mineral reserves and resources, costs of and capital for exploration projects, exploration expenditures, timing of future exploration, requirements for additional capital, government regulation of mining operations, environmental risks, reclamation expenses, title disputes or claims, limitations of insurance coverage and the timing and possible outcome of pending litigation and regulatory matters. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company (and the company resulting from the successful completion of the proposed transaction) to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, political and social uncertainties; the actual results of current exploration activities; delay or failure to receive board or regulatory approvals; timing and availability of external financing on acceptable terms; the business of Kria not being integrated successfully or such integration proving more difficult, time consuming or costly than expected; not realizing on the potential benefits of the proposed transaction; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of mineral prices; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and, delays in obtaining governmental approvals or required financing or in the completion of activities. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATORY SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE

Contact Information

  • Kria Resources Ltd.
    Mike Hoffman
    President and CEO
    416-861-2964
    or
    Kria Resources Ltd.
    Heather Colpitts
    Manager, Investor and Public Relations
    416-861-5803
    info@kriaresources.com