Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (36496)	5/4/2009 10:35:49 AM
From: LoneClone	Read Replies (1) \| Respond to of 193043

Mantra Mining Inc. Completes Acquisition of Gnome Project in British Columbia, Canada Mon May 4, 9:25 AM ca.news.finance.yahoo.com VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 4, 2009) - Mantra Mining Inc. (the "Company") (TSX VENTURE: MAN.V). The Company is pleased to announce that it has completed the acquisition of 100% interest in and to approximately 5,428 Ha (hectares) of mineral claims (the "Gnome Claims") from Charles James Greig subject to a 1% NSR Royalty pursuant to a purchase agreement previously announced in a news release dated March 12, 2009. The Gnome Claims are located in the same belt NE of Williston Lake (the Kechika Trough) as the well known Cirque and Akie Sedex Zn-Pb-Ag properties in British Columbia, Canada. The Project is located immediately adjacent and contiguously south of the Elf mineral claims held by Teck Resources and Korea Zinc. The Elf mineral claims of Teck Resources are located contiguously south of the Akie mineral claims held by Mantle Resources Inc., which claims in turn are located south of the Cirque deposit/claims of Teck Resources and Korea Zinc. The consideration paid by the Company for the acquisition of the Gnome Claims consisted of $3,000 in cash and 15,000 common shares of the Company at a deemed price of $0.50 per share. The Company has the right to purchase the 1% NSR royalty retained by Mr. Greig for $2,000,000 up to the period ending on the 10th anniversary of the closing date. ON BEHALF OF THE BOARD OF DIRECTORS Raj I. Chowdhry, C.A., President & CEO Cautionary Notice: This release contains forward-looking statements regarding the Company's business or financial condition, including the possible completion of transactions. Actual results could differ materially from those described in this news release as a result of factors, including, but not limited to: the timing of and ability to obtain required financing and regulatory approvals and other factors. The Company cautions that these and similar statements involve risk and uncertainties and are qualified by important factors, including competitive pressures, unfavorable changes in regulatory structures, and general risks associated with business, which could cause actual results to differ materially from those in the forward looking statement. Forward-looking statements are made in the context of information available as of the date stated. The Company undertakes no obligations to update or revise such statements to reflect new circumstances or unanticipated events as they occur, unless required by applicable law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Contacts Kelsey Chin Mantra Mining Inc. Direct line: 604-628-1162 604-628-1163 (FAX) kchin@mantramining.com www.mantramining.com