VANCOUVER, BC -- (Marketwire) -- 01/05/09 -- SACRE-COEUR MINERALS, LTD. (the "Company")
(TSX-V: SCM) (FRANKFURT: S5N) today announced that it has completed
rationalization of its extensive portfolio of mineral properties in Guyana,
South America. Over the past three years, the Company has conducted field
exploration as well as desk-top reconnaissance studies over the prospective
areas within its portfolio, which comprised approximately 2,360 sq km in
seven regional blocks. The Company acquired rights to the portfolio under
the Mining Agreement dated March 22, 2005, as amended, with Mr. Alfro
Alfonso, which remains in effect.
Based on the exploration programs of the past three years, the Company has
prioritized its holdings which it believes have sufficient resource
potential to justify further investigation and development, while at the
same time segregating those holdings which it does not believe to have
potential to host a commercial deposit. Accordingly, the Company has now
relinquished a total of 1,347.62 sq km to hold 1,013.11 sq km of its most
prospective ground. This 57% reduction in property held results in a
savings to the Company of US $308,557 at applicable annual rentals for
2009.
The remaining properties are held in five regional blocks (down from seven
in the original portfolio). Two of the Company's seven regional blocks,
the Oko and Mahdia-Issano blocks, have been dropped in view of management's
assessment of their limited potential and in some cases difficult access,
infrastructure or environmental issues.