Macarthur Minerals Limited
TSX VENTURE : MMS

Macarthur Minerals Limited

January 10, 2006 20:07 ET

Macarthur Announces the Acquisition of Lake Giles, Western Australia; Grants Stock Options

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 10, 2006) - Macarthur Minerals Limited (TSX VENTURE:MMS) (the "Company") is pleased to announce it has acquired 100% of the Lake Giles project located in Western Australia by acquiring all of the outstanding common shares in Internickel Australia Pty Ltd from Troy Dalla-Costa. The acquisition was effected by the payment of AUD$1,000,000 and the issuance of 1,000,000 common shares of the Company to Mr. Dalla-Costa. The common shares issued in connection with the acquisition are subject to a hold period expiring on May 5, 2006 pursuant to applicable Canadian securities laws and the policies of the TSX Venture Exchange.

A total of 500,000 incentive stock options have been granted to directors, employees and consultants of the Company. The options are exercisable for a five year period at a price of CAD$0.30 per share, subject to regulatory approval. The options will bear a four month hold period.

On behalf of the Board of Directors,

MACARTHUR MINERALS LIMITED

David K. Barwick, Director

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

Contact Information

  • Macarthur Minerals Limited
    James Tuer
    (604) 628-5002
    (604) 688-3452 (FAX)