Business & Finance
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Mon, December 14, 2009
Sun, December 13, 2009
Fri, December 11, 2009
Thu, December 10, 2009
Canterra and Shore Gold Buy Burnstone's Interest in Buffalo Hills Project
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 10, 2009) - Canterra Minerals Corporation (TSX VENTURE:CTM) (formerly Diamondex Resources Ltd.) ("Canterra") and Shore Gold Inc. (TSX:SGF) ("Shore") are pleased to announce that they have purchased, each as to 50%, the joint venture interest of Burnstone Ventures Inc. (formerly Pure Diamonds Exploration Inc.) ("Burnstone") in the Buffalo Hills project in north central Alberta under a purchase and sale agreement between Canterra, Shore and Burnstone. As consideration for Burnstone's interest, Canterra and Shore each paid $75,000 in cash to Burnstone, and Burnstone was granted a 1% royalty interest in the Buffalo Hills project. The Buffalo Hills project is presently a joint venture with Canterra, Shore, EnCana Corporation ("EnCana") and Burnstone. As a result of the sale, Canterra and Shore each hold a 28.5% interest in the Buffalo Hills project, and EnCana holds the remaining 43% interest. The sale was subject to a 30-day right of first refusal in favour of EnCana, which was waived, as well as the receipt of EnCana's consent to the transaction, which was obtained.
CANTERRA MINERALS CORPORATION
Randy C. Turner, President
SHORE GOLD INC.
Harvey J. Bay, Chief Financial Officer and Chief Operating Officer
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.