Minera Autlan S. A. B. de C. V.

Minera Autlan S. A. B. de C. V.

July 09, 2007 10:00 ET

Minera Autlan Acquires Shares of GFM Resources Ltd.

SAN PEDRO GARZA GARCIA, MEXICO--(Marketwire - July 9, 2007) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Minera Autlan S. A. B. de C. V. ("Autlan") announces that it has acquired the majority of the shares of GFM Resources Limited ("the Company"), a Canadian company engaged in mineral exploration and listed on the NEX Board of the TSX Venture Exchange in Canada with the trading symbol GFM.H. The Company's majority shareholder before this transaction was Grupo Ferrominero, S.A. de C.V. ("Grupo"), also located Garza Garcia, NL, Mexico.

Pursuant to an agreement signed on June 27, 2007, Autlan acquired 9,672,390 Common shares of the Company from Grupo at a price of Cad. $0.35 per share, representing 75.96% of the total issued and outstanding shares of the Company. With this purchase, Autlan is now over securities reporting thresholds. Autlan did not previously own any shares of the Company.

No person has acted jointly or in concert with Autlan with respect to this acquisition.

With this transaction, Autlan diversifies its mining activities exploring for other minerals besides manganese.

On behalf of Compania Minera Autlan, S.A.B. de C.V.

Jose Madero, Chief Executive Officer

Contact Information

  • Minera Autlan S. A. B. de C. V.
    Jose Madero
    Chief Executive Officer
    +52 81 8152 1518
    Website: www.autlan.com.mx