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VVC Exploration Disposes of Interest in Beaver Brook Mine

^{Published on 2009-12-29 12:00:21 - Market Wire}
 

TORONTO, ONTARIO--(Marketwire - Dec. 29, 2009) - VVC EXPLORATION CORPORATION (TSX VENTURE:VVC)(FRANKFURT:V7S)(BERLIN:V7S) ("VVC" or the "Company") reports that Canadian Antimony Mine Inc. ("CAMI"), a private company, recently closed a transaction whereby all the shares of Beaver Brook Antimony Mines Inc. (BBAM") were sold to a third party. The said BBAM shares which were sold by CAMI, represent substantially all of the assets of CAMI. BBAM is the sole owner of the Beaver Brook Antimony Mines in Newfoundland and became a subsidiary of CAMI following a re-organization in March 2008.

Following the closing of the sale of BBAM, CAMI proceeded to distribute the net proceeds of the sale of the BBAM Shares to its preferred shareholders. VVC held 10% of the preferred shares of CAMI and as such has received the sum of $418,600.60 and is expecting an additional $27,100 once all the accounting of the transaction has been completed. Since 2007, when VVC started selling BBAM shares, the Company has received the aggregate amount of over $3.9 million relating to the sale of CAMI and BBAM shares.

As CAMI will in effect become an inactive company, VVC intends to sell all of the shares of the CAMI to a third party for $1.00. VVC will write-down the value of its investment in CAMI record an impairment loss of $1,803,014 for the 9-months period ended October 31, 2009, to reflect the effects of this transaction.

About VVC:

VVC Exploration Corporation is a Canadian exploration company with projects in Mexico and Canada. This includes a silver, lead and zinc prospect in Chihuahua State, Mexico, a gold-silver property in northern Durango State, MX, and a grass-roots gold prospect in the Timmins area of northern Ontario. VVC is also aggressively searching for other projects - mainly precious minerals and base metals at various stages of development in North America, with an emphasis on gold and silver in Mexico.

On Behalf of the board of Directors

Michel J. Lafrance, Secretary-Treasurer

Neither the TSXV or its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this news release.