St. Genevieve Resources Ltd.
CNQ : SGVL

St. Genevieve Resources Ltd.

March 27, 2008 16:22 ET

St. Genevieve Resources Ltd. Announces Completion of Acquisition by Ascendant Copper Corporation

MONTREAL, QUEBEC--(Marketwire - March 27, 2008) - St. Genevieve Resources Ltd. (CNQ:SGVL) today announced that Ascendant Copper Corporation (TSX:ACX) has completed the acquisition of all of St. Genevieve's issued and outstanding shares. As a result, St. Genevieve is now a wholly-owned subsidiary of Ascendant. The acquisition was effected by way of Plan of Arrangement, pursuant to a final order of the Quebec Superior Court granted on March 20, 2008.

In connection with the acquisition, St. Genevieve shareholders will receive one Ascendant share for each 6.5394054 St. Genevieve shares. In addition, each St. Genevieve warrant holder and option holder will receive one Ascendant replacement warrant or stock option, as the case may be, for each 5.5422556 St. Genevieve warrant or stock option of SGV held by them. The Ascendant replacement warrants and options have an exercise price per Ascendant common share equal to the exercise price per St. Genevieve shares of such St. Genevieve option or St. Genevieve warrant, as the case maybe, multiplied by 5.5422556. St. Genevieve expects that its share will be delisted from the Canadian Quotation System at the close of trading on March 27, 2008.

Subsequent to the closing of the Arrangement, Ascendant appointed St. Genevieve's Chairman of the Board, Donald J. Page, as an additional director of Ascendant.

Shares issued and outstanding: 206,858,201

The CNQ Exchange has not reviewed the contents of this press release nor has it passed upon the merits of the information presented herein. Furthermore, the CNQ Exchange does not accept responsibility for the adequacy or accuracy of this release nor has it approved or disapproved the contents contained herein.

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