Canadian Mining Strikes Option Deal on its San Bernardo Project
with Ironwood Gold Corp.
Symbol: CNG - TSX.V
VANCOUVER, Feb. 5, 2013 /CNW/ - Canadian Mining Company
Inc. (TSX.V: CNG), ("the Company") is pleased to announce that
it has entered into an agreement with Ironwood Gold Corp.
("Ironwood"). The agreement grants to Ironwood an option to
acquire up to 100% of the Raquel 3 and 3B mining concessions owned
by the Company's wholly-owned Mexican subsidiary Canmin Mexico S.A.
de C.V., located in the Alamos
Mining district of Sonora, Mexico
(the "San Bernardo Project").
The terms of the agreement provide that Ironwood
may acquire an undivided 100% interest in the San Bernardo Project
for an aggregate consideration of US$1,650,000, payable in cash and by the issuance
of shares in the capital of Ironwood, subject to a 2% NSR in favor
of Canadian Mining Company Inc.
Canadian Mining benefits by Ironwood Gold Corp.
investing into further exploration at its San Bernardo Project
while still retaining an interest in the Property.
Furthermore, it will allow Canadian Mining's team to focus on the
development of the Sun Group Zeolite Project which is garnering
International attention.
About Ironwood Gold Corp. (OTCQB: IROG):
Ironwood Gold Inc. is building a high quality portfolio of
exploration properties containing known deposits of gold.
Ironwood has targeted several high probability locations
historically prospective for gold and silver in direct proximity to
a number of major producing companies.
On behalf of the Board
Ray Paquette CEO
Please see our web site for additional details:
www.canadianmining.ca
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.
SOURCE Canadian Mining Company Inc.