VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 23, 2014) - Sanatana Resources Inc. ("Sanatana" or the "Company") (TSX VENTURE:STA) announces that the Ontario Mining and Lands Commissioner has agreed to hear the Company's preliminary motion requesting that the easement application filed by Trelawney Mining and Exploration Inc. ("Trelawney") be dismissed on the basis that Trelawney has not met the requirements under subsection 175(4) of the Mining Act (Ontario). The preliminary motion is scheduled to be heard on March 11, 2014. For further details on Trelawney's easement application, see the Company's news releases dated: April 29, 2013, July 4, 2013 and November 5, 2013 (copies of which are available under the Company's SEDAR profile at www.sedar.com).
Sanatana objects to the proposed easements on a number of grounds and looks forward to presenting its position to the Commissioner. Sanatana will keep its shareholders up to date on any new developments related to the easement application.
About the Company
Sanatana Resources Inc. is a Canadian mineral exploration and development company focused on its Watershed property in Ontario. Sanatana entered into an option and joint venture agreement with Trelawney Augen Acquisition Corp. (formerly Augen Gold Corp.) ("TAAC") which grants Sanatana an option to acquire up to 51% of the Watershed Property. As at November 28, 2012, Sanatana exercised its first option and is the legal and beneficial owner of 50% of the Watershed Property. Sanatana has until March 23, 2016, to decide whether to exercise its right to acquire a further 1% in the Watershed Property.
In June 2012 IAMGOLD Corporation completed its acquisition of Trelawney Mining and Exploration Inc. and became the sole indirect shareholders of TAAC. In 2013, Sanatana expanded the Watershed Property by acquiring, for the sole benefit of Sanatana and TAAC, a 20% interest in three additional mining claims located in Yeo and Chester Townships, Ontario. With an experienced management team and board of directors, the Company has the ability required to identify, develop and fund economic mineral properties. Sanatana is based in Vancouver and is listed on the TSX Venture Exchange (TSX VENTURE:STA).
SANATANA RESOURCES INC.
Peter Miles, President and Chief Executive Officer
Cautionary Statement Regarding "Forward-Looking" Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "plans", "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond Sanatana's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
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