VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 30, 2014) - Super Nova Minerals Corp. (CSE:SNP)(PINKSHEETS:SNOVF) (the "Company" or "Super Nova") announces that the Company has entered into an agreement with Glen Landry to acquire a 100% working interest and 80% net revenue interest in oil and gas leases covering 6,000 acres of property (the "Property"). The Property is contiguous to the east and south of the 10,000 acres that the Company has an option to acquire an 80% working interest in, as previously announced by the Company on January 16, 2014 (the "Farmout Lands").
In exchange for the 100% working interest and 80% net revenue interest in the Property, the Company will issue 1,500,000 common shares and 1,500,000 warrants to Glen Landry. The warrants will be exercisable at a price of $0.075 per share until the first anniversary of the agreement, $0.10 until the second anniversary of the agreement, and $0.125 until the expiration of the warrants on the third anniversary of the agreement. If commercially viable resources are discovered on the property, the Company must issue an additional 3,500,000 common shares to Glen Landry. There are no work commitment requirements on the Property.
Collectively, the Property and the Farmout Lands cover 16,000 contiguous acres located in Lewis and Clark County on the Alberta Bakken Fairway, 60 km southwest of the city of Great Falls in Northwest Montana.
The Company has commissioned Chapman Petroleum Engineering Ltd. of Calgary, Alberta to author a National Instrument 51-101 report on the Millford Bakken property. This news release has been reviewed and approved by Charlie Chapman, P. Eng., of Chapman Petroleum Engineering Ltd., a Qualified Person as defined by N.I. 51-101.
There is no certainty that any portion of the resources will be discovered on the Property or the Farmout Lands. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources.
The Company is also pleased to announce that David B. Jackson has consented to act as Chief Executive Officer and as a director of the Company. Mr. Jackson has over 35 years of business experience with private and public corporations, focused on land development, natural resources and industrial machinery. He has broad experience in the initiation, negotiation, planning and launching of projects in Canada and internationally. In addition, Mr. Jackson has experience providing advisory services related to development, marketing, fundraising and corporate finance. He serves on the board of two public companies, Mineral Hill Industries and Ascot Mining and two private companies, Veritas Mining SA, and Veritas Resources SA. He has an extensive network of business contacts internationally.
Wolf Wiese has resigned as Chief Executive Officer, but will retain his positions as President and as a director of the Company.
On behalf of the Board of Directors:
SUPER NOVA MINERALS CORP.
Wolf Wiese, President
THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. NEITHER CSE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. THIS DOCUMENT CONTAINS CERTAIN FORWARD LOOKING STATEMENTS WHICH INVOLVE KNOWN AND UNKNOWN RISKS, DELAYS, AND UNCERTAINTIES NOT UNDER THE COMPANY'S CONTROL WHICH MAY CAUSE ACTUAL RESULTS, PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM THE RESULTS, PERFORMANCE, OR ACHIEVEMENTS IMPLIED BY THESE FORWARD LOOKING STATEMENTS. WE SEEK SAFE HARBOR.