Marksmen Resources Ltd.

Marksmen Resources Ltd.

October 04, 2005 13:38 ET

Marksmen Resources Ltd.: Proposed Date of Spinout

CALGARY, ALBERTA--(CCNMatthews - Oct. 4, 2005) - Further to a press release dated July 7, 2005, Marksmen Resources Ltd. (TSX VENTURE:MA.A) ("Marksmen") is pleased to report that the minerals property spinout and Plan of Arrangement between Marksmen and Signet Minerals Inc. ("Signet") is anticipated to close on or about October 6, 2005. Under terms of the arrangement, Marksmen's mineral properties will be transferred to Signet while Marksmen will continue to hold the oil and gas assets. At the closing of the spin-out, Signet will also close the financing first announced on June 16, 2005. Further details with respect to the closing of the spin-out and the financing will be issued in a press release issued on the closing date.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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

Contact Information

  • Regarding the oil and gas operations:
    Marksmen Resources Ltd.
    Peter Malenica
    (403) 969-9585
    Regarding the spinout or the mineral operations:
    Marksmen Resources Ltd.
    Kieran Downes
    (250) 729-0529