CPS Canadian Premium Sands Inc

Claim Post Resources Inc. (TSX VENTURE:CPS) (the "Company") is pleased to
announce that it has acquired 100 percent of the Seymourville Silica Sand
Deposit in Manitoba by making the final payment in the amount of $150,000 to
Char Crete Ltd.


Claim Post Resources is also continuing its $3,500,000 financing as stated in
Press Release dated February 21, 2013. The non-brokered private placement
offering (the "Offering") of up to 35,000,000 units (the "Units") is at a price
of $0.10 per Unit for gross proceeds of up to $3,500,000. Each Unit is comprised
of one (1) common share and one (1) common share purchase warrant (a "Warrant").
Each Warrant is exercisable at an exercise price of $0.15 per share for a period
of three (3) years from the date of issuance.


The proceeds received from the Offering to date have been used to fund the
acquisition of a silica sand quarry project located near Seymourville, 200km NE
of Winnipeg, Manitoba, Canada (see press release of August 27, 2012). Ongoing
financing will be used (1) to carry out a 3,000 meter drilling program towards
completing resource estimation in accordance with NI 43-101 regulations; (2) to
complete a marketing study and a scoping study on the project (Preliminary
Economic Assessment); and (3) for general working capital purposes.


Claim Post major shareholders and management have loaned $150,000 to Claim Post
to acquire the final 25 percent of the Char Crete leases to increase Claim
Post's ownership to 100 percent. The nine Char Crete sand leases cover an area
of 478.7 hectares or 1053 acres. Claim Post is setting up a wholly owned
Manitoba registered company to hold the ownership of the leases. 


The President of Claim Post Resources, Charles Gryba, stated: "Now that we have
100 percent ownership of the Char Crete sand leases we can concentrate raising
funds to complete the NI 43 101 - scoping study process plus fund all of the
ongoing negotiations required to advance a Canadian mining project. The recent
increase in the price of natural gas plus the long list of global LNG companies
interested in funding Canadian LNG plants and pipelines should make ongoing
funding of a frac sand operation easier. In the mean time, we will advance
Seymourville project in the most cost effective way to minimize shareholder
dilution. The old saying 'that mines are made; not found,' certainly applies to
this project."


The Seymourville Silica Sand deposit was discovered in 1977 and ongoing drilling
by Manitoba government geologists in 1981 and again in 1989 indicating an
estimated resource of 45 million tons of high silica sand (Manitoba Open File
Report OF 96-4) of which potentially about 70 percent is on the Char Crete
leases. The sand deposit is hosted within flat topped hill about 25m high on the
east shore of Lake Winnipeg. The hill is composed mainly of the Lake Winnipeg
Formation which is the on-shore extension of the Historical Black Island silica
deposit. The 99.5 percent pure silica sand was evaluated to feasibility in the
1980's by the Manitoba Government as silica feed for a 500 tons per day of plate
glass plant. The current plan is to process the sand to frac sand API - ISO
specifications for the Western Canadian oil and gas markets. The historical
estimates are not current and do not meet the standards prescribed by NI 43-101.
The Company has not completed the work necessary to have the historical estimate
verified by a QP. The Company is not treating the estimate as a current NI
43-101 defined resource and the historical estimate should not be relied upon.


Claim Post Resources Inc. is a Canadian based mineral exploration company and a
reporting issuer in Ontario, Alberta and British Columbia. The Company now has a
100 percent ownership right in 9 quarry leases near Seymourville, Manitoba which
the Company intends to develop as a source of fracking sands for the oil and gas
industry. The Company currently holds a 100 percent interest in the mineral
rights to about 1145 staked claim units and 63 patented claims (approx. 200 km
sq. or 72 sq. miles), wholly within the city limits of Timmins, Ontario. There
are 48,288,831 common shares of the Company issued and outstanding.


Statements in this release that are forward-looking and reflect the Company's
current views and expectations with respect to its performance, business, and
future events. Such statements are subject to various risks and assumptions,
some, but not necessarily all, are disclosed elsewhere in the Company's periodic
filings with Canadian securities regulators. Such statements and information
contained herein represent management's best judgment as of the date hereof
based on the information currently available; however actual results and events
may vary significantly. The Company does not assume the obligation to update any
forward-looking statement. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Claim Post Resources Inc.
Charles Gryba
President and Director
416-801-6366
www.claimpostresources.com


Claim Post Resources Inc.
Peter Gryba
Corporate Affairs
416-203-3776

Grafico Azioni Canadian Premium Sands (TSXV:CPS)
Storico
Da Nov 2024 a Dic 2024

Grafico Azioni Canadian Premium Sands (TSXV:CPS)
Storico
Da Dic 2023 a Dic 2024