Takara Resources Inc.

Takara Resources Inc.

September 17, 2008 11:10 ET

Takara Resources Inc.: Update-South African Coal Applications and Other Projects

TORONTO, ONTARIO--(Marketwire - Sept. 17, 2008) - Takara Resources Inc. (TSX VENTURE:TKK) ("Takara") announces that it has been actively addressing the criteria required by the South African Department of Minerals and Energy, in order to obtain prospecting rights on 5 projects prospective for coal, all of which are located in a region that is active in coal exploration and production.

Over the summer, Takara has, together with its South African partner, undertaken the completion of environmental management plans, consultations with affected third parties, and has taken steps for the posting of reclamation guarantees. The company will continue to provide updates as other matters transpire in respect of these applications.

Additionally, Takara announces that it has fulfilled its obligations in respect of a Uranium project that it has been evaluating, and accordingly, Takara shall, subject to the approval of the TSX Venture Exchange, issue 100,000 common shares to an arms-length vendor, in consideration for a 100% interest in 373 mineral claims located in the Noble Pond region of Baie Verte, Newfoundland and Labrador. This project is unaffected by the moratorium on uranium mining within the Nunatsiavut's self-governed Labrador Inuit Lands.

Certain information contained in this press release, including information and statements which may contain words such as "could", "plans", "should", "anticipates", "expect", "believe", "will", and similar expressions and statements relating to matters that are not historical facts are forward-looking information. All of the forward-looking information contained in this press release is qualified by this cautionary statement. There can be no assurance that the actual results or developments anticipated by Takara, as expressed or implied by the forward-looking information, will be realized or, even if substantially realized, that they will have the expected consequences to or effects on Takara or its business operations except as required by law, Takara disclaims any intention or obligation to update or revise any forward-looking information as a result of new information or future events.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Takara Resources Inc.
    Jennifer L. Boyle
    (647) 430-0966 (work)
    Takara Resources Inc.
    Pamela Strand
    Chairperson of the board
    (780) 435-0045 (work)