Marksmen Resources Ltd.

Marksmen Resources Ltd.

May 11, 2009 11:24 ET

Marksmen Reaches Agreement With Lending Group to Suspend Interest Payments

CALGARY, ALBERTA--(Marketwire - May 11, 2009) - Marksmen Resources Ltd. (TSX VENTURE:MA) ("Marksmen") announces that it has reached an agreement ("Amending Agreement") with its lending group ("Lenders") to suspend interest payments from April 1, 2009 to the Maturity Date of the original Loan Agreements of June 27, 2009.

Under the terms of the Amending Agreement, interest to the Lenders will continue to be calculated and added to and form part of the outstanding principal owing under the Loan Agreements. The Lenders have also agreed that the suspension of the interest payments does not constitute an Event of Default under the Security Agreements with the Lenders.

Except as stated above, all the rights and obligations of the Parties under the Security Agreements shall otherwise remain in full force and effect until the Maturity Date of June 27, 2009.

Marksmen is continuing to work toward a longer term solution with the Lenders.

On behalf of the Board of Directors

Peter Malenica, President & CEO

This News Release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein may be forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budgets", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects the Company's current beliefs and is based on information currently available to the Corporation and on assumptions the Company believes are reasonable. These assumptions include, but are not limited to, the actual results of drilling and exploration being equivalent to or better than anticipated or historical results and future costs and expenses being based on historical costs and expenses, adjusted for inflation. 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 Corporation to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the early stage development of the Corporation and its projects; general business, economic, competitive, political and social uncertainties; commodity prices; the actual results of current exploration and development or operational activities; competition; changes in project parameters as plans continue to be refined; accidents and other risks inherent in the natural resources industry; lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting the Corporation; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although the Corporation 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. Accordingly, readers should not place undue reliance on forward-looking information. The Corporation does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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

Contact Information