KWG Resources Inc.
TSX VENTURE : KWG

KWG Resources Inc.

October 05, 2005 16:48 ET

KWG Resources Inc.: Acquisition of Interest in Claims

MONTREAL, QUEBEC--(CCNMatthews - Oct. 5, 2005) - The KWG Resources Inc (TSX VENTURE:KWG) and Spider Resources Inc Joint Venture has agreed to acquire a 90% interest in three previously-staked claim blocks in the James Bay Lowlands. Under terms of the acquisition agreement KWG will issue 150,000 treasury shares and transfer 150,000 shares of Spider Resources, from its holding of marketable securities, to the vendor Greenstone Exploration Company Limited. Spider Resources will pay the vendor $18,000.

KWG also announces that Martin Nicolletti has been appointed its acting Chief Financial Officer, upon the recent resignation of Leonard Teoli.

Shares issued and outstanding: 118,587,408

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.

Contact Information

  • KWG Resources Inc.
    Frank C. Smeenk
    President and CEO
    (416) 642-3575
    (514) 866-6193 (FAX)
    or
    KWG Resources Inc.
    Michel Cote
    Director
    (514) 866-6001/# 266
    (514) 866-6193 (FAX)
    www.kwg-resources.com