Sanatana Signs Letter of Intent to Acquire Gold Exploration Properties in the Whitegold District of the Yukon Territory
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 23, 2010) - Sanatana Diamonds Inc., ("Sanatana" or the "Company") (TSX VENTURE:STA) is pleased to report that it has signed a Letter of Intent with Northern Exposures Inc. giving Sanatana the right to explore on 368 full sized quartz claims (the "Property") in the Dawson Mining District of the Yukon Territory.
By paying the sum of $38,640 in order to maintain the claims in good standing for one year, Sanatana will earn a 100% interest in the Property subject to a 1% NSR in favour of the vendor.
The Property is road accessible, located 40km south of Dawson City within the Whitegold District of the Yukon-Tanana Geological Terrane that has recently been proven prospective for bedrock gold mineralization. The Property had a long history of placer mining for gold, but very little exploration has been focused on bedrock gold source delineation.
Sanatana will undertake a detailed research study of available data to be followed by initial mapping and prospecting of the Property for mineralization potential. Should these results warrant further work, the Company will then proceed with systematic geochemical and geophysical surveys over areas of interest defined by the initial fieldwork in an effort to delineate targets for drill testing.
About the Company
Sanatana Diamonds Inc., an exploration company with properties in NWT, Alberta, and the Yukon, continues to seek out new exploration opportunities. Sanatana, headquartered in Vancouver, is listed on the TSX Venture Exchange (TSX VENTURE:STA).
SANATANA DIAMONDS INC.
Peter Miles
President and Chief Executive Officer
Cautionary Statement Regarding "Forward-Looking" Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond Sanatana's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
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