Cambridge Mineral Resources plc

Cambridge Mineral Resources plc

April 09, 2009 13:25 ET

Letter of Intent regarding sale of Spanish Subsidiary

9 April 2009

                      Cambridge Mineral Resources plc ('CMR' or 'the Company')
                       Letter of Intent regarding sale of Spanish Subsidiary

Cambridge Mineral Resources plc, the mining exploration and production company, announces that it has entered a
formal letter of intent in relation to the sale of its wholly-owned Spanish subsidiary, Recursos Metalicos SL
('Recursos').  The buyer will be Direct Response Media Inc. of Nevada, USA.  The consideration for the transaction
will be US$19,000,000 in a combination of shares and cash. By way of illustration, this equates to in excess of
£0.035p per share for CMR.

Recursos holds the Lomero-Poyatos mine and the Masa Valverde exploration permits.

The sale is subject to all normal reservations and preconditions including due diligence on the part of Direct
Response Media.

The Company will announce further details in due course.


For further information, visit or contact:

Michael Burton                 Cambridge Mineral Resources plc         Tel: +44 (0) 20 7663 5618

Colin Rowbury                  Religare  Hichens  Harrison plc         Tel: +44 (0) 20 7382 7771

Susie Callear                  St Brides Media & Finance Ltd           Tel: +44 (0) 20 7236 1177

Contact Information

  • Cambridge Mineral Resources Plc