Noble Hydrocarbons Alta Ltd. ("NHA"): Exploration Agreement
16 Luglio 2008 - 3:33AM
Marketwired
VANCOUVER, BRITISH COLUMBIA -
The Company announces that it has today entered into an
exploration agreement with Cougar Minerals Corporation ("Cougar")
of Vancouver for the exploration of NHA's oil shale exploration
permitted lands located near Hudson Bay, Saskatchewan. NHA holds in
the Hudson Bay area an oil shale exploration permit covering parts
of 5 townships comprising 37,980 hectares (93,851 acres). The
property trends from the southwest of Hudson Bay to the northeast
of Hudson Bay. The northeast corner of NHA's oil shale exploration
permit abuts the southwest corner of the coal permits recently
granted by the Saskatchewan government to Goldsource Mines Inc.
(TSX VENTURE: GXS) following on the latter's recent coal discovery
northeast of the town of Hudson Bay.
NHA's exploration rights are exclusive and extend from the
surface to the top of the Precambrian geological layer. The
exploration agreement with Cougar provides the latter with an
option to earn a 25% interest in any non-hydrocarbon discovery made
in the permitted lands in return for an initial investment in
exploration expenses of up to $550,000. The monies were received by
NHA on signing of the Agreement. Cougar's interest can be expanded
to 50% in any non-hydrocarbon resource on a further investment in
exploration expenses on the Hudson Bay permit in the same amount.
All expenses are to have been incurred by July 31, 2009.
Should coal be encountered by NHA during the course of its
exploration of the permit area, it has confirmed with Saskatchewan
Industry and Resources that it has the option of converting part of
its oil shale exploration permit lands to a coal lease.
NHA's consulting geologist Ivan Young, P. Geo. is in the process
of selecting targets for NHA's drilling program on the Hudson Bay
permit. Cougar's consulting geologist, Krzysztof Mastalerz, Ph.D,
P.Geo. will be working with Ivan Young as part of a Geological
Team.
Cougar is listed on the CNQ Stock Exchange (CNQ: COUG).
ON BEHALF OF THE BOARD OF DIRECTORS
NOBLE METAL GROUP INCORPORATED
JJ McIntyre, President
Should you wish to receive our news release via e-mail please
contact us at nobleinc@telus.net.
For statements of historical fact relating to the Company, this
news release contains certain "forward-looking information" within
the meaning of applicable securities law. "Forward-looking
information" is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate",
and other similar words, or statements that certain events "may",
"will", or "could" occur. There are uncertainties inherent in
forward-looking information including factors beyond the company's
control, and no assurance can be given that the programs will be
completed on time, on budget or at all. The reader is cautioned not
to place undue reliance on forward-looking statements.
The TSX Venture Exchange has neither approved nor disapproved
the contents of this news release.
Contacts: Noble Metal Group Incorporated JJ McIntyre President
(604) 683-9338 (604) 683-9293 (FAX) Email: nobleinc@telus.net
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