Tarsis Capital Corp.

Tarsis Capital Corp.

December 23, 2008 16:30 ET

Tarsis Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 23, 2008) - Tarsis Capital Corp. (TSX VENTURE:TCC) ("Tarsis" and "the Company") provides the following update regarding recent cost cutting steps management has taken, the focus of the Company's exploration and project generation, the date of the Annual General Meeting and a grant of stock options.

Cost Savings

The Company is pleased to announce that its 2008 exploration programs on the MOR and Goz Creek properties in Yukon, Canada were completed under budget. Archer Cathro and Associates (1981) Limited carried out the exploration programs and savings of approximately $300,000 or 15% were realized through prudent management and synergies with other nearby projects.

Tarsis management has also recently conducted a thorough budget review and has concluded that the Company has adequate funds to carry out its operations beyond 2009. Tarsis shares facilities with another company and operates with very low general and administrative costs. The Company may consider raising additional funds in early 2009 to fund early stage exploration on its mineral properties and it continues to prepare its exploration projects to be ready to option out to new partners.

Precious Metals

The Company wishes to remind its shareholders that both the Erika (Mexico) and Prospector Mountain (Yukon) property are highly prospective for gold and silver. While the Company's primary focus is on zinc and copper, Tarsis intends to carry out early stage exploration for gold and silver on at least one of these properties during 2009.

Annual General Meeting

The Annual General Meeting for Tarsis will be held on April 16, 2009 at 10 am PDT in the Company's offices, located at 1103 - 750 W Pender St, Vancouver.

Incentive Stock Options

Tarsis has granted, pursuant to the terms of the Company's Stock Option Plan, incentive stock options to certain directors, officers, consultants and employees of the Company aggregating 315,000 shares. Each option has an exercise price of $0.10 per share and is exercisable for a period of 5 years.

Tarsis is an exploration company following the prospect generator business model, with seven mineral properties in Yukon, Canada and one in Mexico. The Company is currently exploring Goz Creek and MOR and seeking joint venture partners for Erika (Mexico), Meister and Prospector Mountain and its other properties.

The Company currently has 12,367,970 shares issued and outstanding.

Tarsis Capital Corp.

Marc G. Blythe, P.Eng., MBA., President and Chief Executive Officer

The TSX Venture Exchange does not Accept Responsibility for the Adequacy or Accuracy of this Release.

Contact Information

  • Tarsis Capital Corp.
    Marc G. Blythe, P.Eng., MBA.
    President and Chief Executive Officer
    (604) 689-7644
    Tarsis Capital Corp.
    Mark T. Brown, C.A.
    Chief Financial Officer
    (604) 687-3520
    Email: info@tarsis.ca
    Website: www.tarsis.ca