Turnberry Resources Ltd.
TSX VENTURE : TUR.P

February 21, 2012 12:22 ET

Turnberry Provides Update on Share Subdivision

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 21, 2012) - Turnberry Resources Ltd. (TSX VENTURE:TUR.P) ("Turnberry" or, the "Company"), a Vancouver based Capital Pool Company listed on the TSX Venture Exchange (the "Exchange"), is pleased to announce that it has received the conditional approval of the TSX Venture Exchange to complete the subdivision of its common shares. The proposed subdivision remains subject to final Exchange approval. The Company will also not be changing its name in conjunction with the subdivision.

The share subdivision was first announced by the Company in its news release dated September 1, 2011. The directors set a record date of February 15, 2012 for the subdivision. The Company's press release of February 20, 2012 incorrectly specified the record date as February 15, 2011. Within five business days following the record date, the Company's registrar and transfer agent will mail, to the shareholders of record, share certificates representing the additional shares they are entitled to as a result of the subdivision. Please refer to the Company's press release dated February 20, 2012 for details of the share subdivision.

ON BEHALF OF TURNBERRY RESOURCES LTD.

C. Warren Beil, Corporate Secretary

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the United States Securities Act of 1933 and applicable state securities laws or an exemption from such registration is available.

Forward-Looking Statements

This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking statements include, but are not limited to, statements with respect to the completion of the proposed share sub-division. Forward-looking statements are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Certain of the statements made herein by Turnberry Resources Ltd. are forward-looking and subject to various risks and uncertainties, both known and unknown, many of which are beyond the ability of Turnberry Resources Ltd. to control or predict. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Forward-looking information is subject to known and unknown risks and uncertainties that may cause Turnberry Resources Ltd.'s actual results, performance or achievements may be materially different from those expressed or implied by such forward-looking information, and are developed based on assumptions about such risks, uncertainties and other factors set out here in, including but not limited to the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drill results and other exploration data, the potential for delays in exploration or development activities, mine development and production costs, the projected life of the Company's mines, future production levels, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties with or interruptions in production and operations, fluctuating metal prices, unanticipated costs and expenses, uncertainties
relating to the availability and costs of financing needed in the future, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, regulatory restrictions, including environmental regulatory restrictions and liability, competition, loss of key employees, and other related risks and uncertainties. The Company undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

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

  • Turnberry Resources Ltd.
    C. Warren Beil
    Corporate Secretary
    (604) 628-1168
    (604) 688-0094 (FAX)