|December 08, 2010|
Zimtu Capital Corp. Announces Property Transaction
|Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1) (the "Company" or "Zimtu") is pleased to announce that the Company and one of its prospecting partners have signed an agreement with Upper Canyon Minerals Corp. (TSXv: UCM) ("Upper Canyon") whereby Upper Canyon can earn a 100% interest in two claim groups, the Sul and Sud, prospective for base and precious metals located 15 kilometres northeast of Creston, British Columbia.|
For its participation in the transaction, Zimtu will receive staged cash and share payments totaling $10,000 and 2,000,000 common shares over a 24 month period. Zimtu's partner, 877384 Alberta Ltd. will receive cash and share consideration equal to that of Zimtu. The vendors will retain a 2% Net Smelter Royalty ("NSR") on the properties. The transaction is subject to acceptance by the Toronto Venture Exchange ("TSXv"). A finders fee in accordance with TSXv policy will be payable for the transaction.
The two properties encompass 18 claims totaling 9,456 hectares and are adjacent to the Iron Range Project currently being explored by Providence Capital Corp. (TSXv: PV) and Eagle Plains Resources Ltd. (TSXv: EPL). The projects were acquired by the Company and its partner by staking and were acquired for project generation. Zimtu will continue to evaluate and acquire prospective resource properties to make available for sale or joint venture. As part of the Company's business, Zimtu provides mineral property advisory services and helps to connect companies with mineral properties of interest.
For additional information on our mineral property advisory services and available opportunities, contact Ryan Fletcher, Corporate Development and Director at 604.681.1568 or via email at firstname.lastname@example.org.
About Zimtu Capital Corp.
Zimtu Capital Corp. invests in, creates and grows natural resource companies thereby providing a way for shareholders to indirectly participate and profit in the public company building process. The Company also provides mineral property advisory services helping to connect companies to properties of interest.
On Behalf of the Board of Directors
ZIMTU CAPITAL CORP.
President & Director
Neither 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.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future.
Forward-looking statements in this news release include that Zimtu will receive staged cash and share payments totaling $10,000 and 2,000,000 common shares over a 24 month period on acceptance by the TSX Venture Exchange for the Sud and Sul Properties; that 877384 Alberta Ltd. will receive cash and share consideration equal to that of Zimtu; that the vendors will retain a 2% NSR on the properties; that Zimtu will continue to evaluate and acquire prospective resource properties to make available for sale or joint venture; and that Zimtu provides mineral property advisory services and helps to connect companies with mineral properties of interest.
It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.
You can view the Next News Releases item: Wed Dec 15, 2010, Zimtu Capital Corp. Options Package of Seven Rare Metal Projects in Southern British Columbia to First Gold Exploration Inc.
You can view the Previous News Releases item: Tue Dec 7, 2010, Zimtu Capital Corp. Acquires Securities Of Brixton Metals Corp.
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