Stelmine Canada Ltd.
TSX VENTURE : STH

Stelmine Canada Ltd.

July 11, 2012 10:02 ET

Stelmine Announces the Signature of Agreements in Connection with the Acquisition of Mining Rights and Corporate Update

MONTRÉAL, QUÉBEC, CANADA--(Marketwire - July 11, 2012) - Stelmine Canada Ltd. ("Stelmine" or the "Corporation") (TSX VENTURE:STH) is pleased to announce, further to its news release dated June 19, 2012, the execution of agreements with respect to the acquisition of a 100% interest in 84 mining rights located in the region of Sainte-Irène-de-Matapédia and Val-Brillant in the Matapédia Valley, Québec.

To acquire this interest, Stelmine shall issue 85,000 common shares and pay $2,500. The sellers have retained a gross operating profit of 25%.

The completion of the transaction is subject to the prior approval by the TSX Venture Exchange

Stelmine is also pleased to announce the appointment of Mr. Jean-Pierre Heckmann as director of the Corporation. Mr. Heckmann is a businessman from the Québec city area and involved in his community since 1969. Having operated successfully several restaurants in the region and participated in the restaurant association, he has been acting as consultant in the sector since 2008. Mr. Heckmann develops and is involved in the business development in France and in the French Antilles.

Stelmine also granted a total of 350,000 stock options to directors of the Corporation at a price of $0.10 per share for a period of 5 years, the whole in accordance with the Stock Option Plan of the Corporation.

Stelmine Canada Ltd. is a junior exploration company listed on the TSX Venture Exchange under the symbol STH.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Norman Ross
    President and Chief Executive Officer
    514-866-6299
    514-866-8096 (FAX)