December 23, 2016 13:17 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 23, 2016) - Southern Arc Minerals Inc. (TSX VENTURE:SA) ("Southern Arc") announces that further to its news release dated November 22, 2016 it has completed the purchase of an additional 12.5 million new ordinary shares in Tethyan Resources PLC (AIM:TETH) ("Tethyan") at a price of C$0.036 per share. Tethyan received shareholder approval for Southern Arc's subscription at a meeting of its shareholders held on December 12th, 2016. As a result of the foregoing acquisition, Southern Arc currently owns 29.9% of Tethyan's issued and outstanding ordinary shares.
On behalf of the Board of Southern Arc Minerals Inc.
John Proust, Chairman & CEO
About Southern Arc
Southern Arc Minerals Inc. is a Canadian mineral exploration company focused on gold and copper-gold exploration. The Company holds an interest in the West Lombok project in Indonesia, a resource-stage property with several gold-rich copper porphyry and epithermal gold vein prospects. Southern Arc holds a 42.9% interest in Japan Gold Corp., which has applied for 80 prospecting rights licenses in Japan in an area with known gold occurrences and a history of mining. Southern Arc also holds an investment in Osisko Mining Inc. (TSX:OSK), which is advancing a number of gold projects in Canada's Abitibi Gold Belt, including the high-grade Windfall Lake Gold Project in Quebec, Canada. More information is available at www.southernarcminerals.com or by email at email@example.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Southern Arc Minerals Inc.John ProustChairman & CEO604firstname.lastname@example.org
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