Tiomin Resources Inc.
TSX : TIO

Tiomin Resources Inc.

September 01, 2005 11:34 ET

Tiomin Resources Inc. Escrow Agreement Amendment

TORONTO, ONTARIO--(CCNMatthews - Sept. 1, 2005) - Tiomin Resources Inc. (TSX:TIO) (the "Company") announces that effective as of June 8, 2005, the escrow agreement (the "Escrow Agreement") dated October 6, 1992 has been amended to replace the existing release from escrow provisions with the release from escrow provisions set out in National Policy 46-201 ("NP 46-201").

The amendment to the Escrow Agreement was approved by the Company's shareholders at the annual and special meeting of shareholders held on June 8, 2005 and by the directors of the Company by resolution dated as of June 8, 2005. In accordance with NP 46-201, the escrowed shareholders and their affiliates and associates did not vote on the resolution. Disclosure of the proposed amendment was provided in the Company's information circular posted on SEDAR and distributed to shareholders in advance of the June 8, 2005 annual and special meeting, which information circular is available under the Company's profile on www.sedar.com.

Under the amendment and in accordance with NP 46-201, the present 1,237,000 Common Shares of the Company remaining in escrow pursuant to the provisions of the Escrow Agreement will be automatically released as follows:



October 31, 2005 309,250 Escrowed
Securities, being 25% of the
Escrowed Securities

April 30, 2006 309,250 Escrowed
(6 months after Securities, being 25% of the
the first release) Escrowed Securities

October 31, 2006 309,250 Escrowed
(12 months after Securities, being 25% of the
the first release) Escrowed Securities

April 30, 2007 309,250 Escrowed
(18 months after Securities, being the balance
the first release) of the Escrowed Securities."



NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.

Contact Information

  • Tiomin Resources Inc.
    Jean-Charles Potvin
    President
    (416) 350-3776, ext. 227
    or
    Tiomin Resources Inc.
    Bruce Ramsden
    V-P Finance & CFO
    (416) 350-3776, ext. 232
    or
    Tiomin Resources Inc.
    Donna Yoshimatsu
    Investor Relations
    (416) 350-3776, ext. 222
    or visit our website: www.tiomin.com