Sagittarius Capital Corporation

November 11, 2010 14:01 ET

Sagittarius Announces Further Amendments to Its Agreement With Alpaca

TORONTO, ONTARIO--(Marketwire - Nov. 11, 2010) - Sagittarius Capital Corp. (TSX VENTURE:SCX.H) ("Sagittarius" or the "Corporation"), a capital pool company which entered a Letter of Intent September 1, 2010 (the "Letter of Intent") with Alpaca Resources Inc. ("Alpaca" or the "Company" and together with Sagittarius, the "Parties") to acquire all of the issued and outstanding securities of Alpaca (the "Qualifying Transaction" or "QT"), is pleased to announce that the Parties agree to further amend the Letter of Intent to extend the due diligence and certain other conditions provided for in paragraphs 13 to December 31, 2010.

More specifically, the Parties have agreed to extend the deadline from October 31, 2010 until December 31, 2010 to complete a financial and legal due diligence investigation of Alpaca, obtain from Sagittarius and the Company all director, shareholder, and Exchange approvals as required under applicable laws and regulatory policies, as well as negotiate, execute and deliver the formal amalgamation agreement. All other terms, conditions, and provisions of the Letter of Intent will remain in full force and effect.

About Alpaca

Alpaca is a mineral exploration and development company with advanced and early stage copper and gold exploration properties, primarily in the Western United States. Alpaca's copper portfolio consists of the Hill Copper and Troy Ranch projects in Arizona. Alpaca's gold portfolio consists of the Iron Butte project in Nevada and the Pataz project in the Peru.

Completion of the Qualifying Transaction is subject to a number of conditions including, but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the Qualifying Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Qualifying Transaction will be completed as proposed, or at all.

Investors are cautioned that, except as disclosed in the or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.

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