SB: TSX Venture Exchange Issued: 42,484,168 shares
CALGARY, July 6 /CNW/ - Stratabound Minerals Corp. announces that,
subject to regulatory approval, it will issue up to 5,000,000 shares at $0.10
per share on a flow-through basis and 2,000,000 shares at $0.075 per share on
a non-flow through basis, for a total offering of $650,000. Funds will be used
for further work on its New Brunswick base metal properties, mostly for
drilling, and for general working capital.
Geophysical and geochemical fieldwork in 2008 outlined a dozen new target
areas located 0.3 to 2.0 kilometres from the company's 100%-owned CNE
(lead-zinc-silver) and Captain (copper-cobalt-gold) deposits. These
high-potential areas are characterized by both induced polarization and basal
till anomalies similar to those detected at the CNE and Captain deposits.
Drilling is the only way to determine if these anomalies are caused by new,
undiscovered zones of near-surface mineralization.
Two to three deep holes are also planned on the Captain deposit to test
for lead-zinc-silver massive sulphides at depth. This model is supported by
other deposits in the Bathurst Camp as well as the magnetic, rock alteration
and geological features of the Captain deposit defined to date.
The technical information contained in this release has been reviewed by
John Duncan, P.Geo. and Stan Stricker, P.Geol., Qualified Persons as defined
in NI 43-101.
Stratabound Minerals Corp. is a Canadian natural resource company
exploring and developing 100%-owned gold and base metal properties in eastern
Canada. It is currently focused on building a resource base in the
infrastructure-rich, world-class Bathurst Mining District of New Brunswick.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Certain information regarding the Company contained herein may constitute
forward looking statements. Forward looking statements may include estimates,
plans, expectations, opinions, forecasts, projections, guidance or other
statements that are not statements of fact. Although the Company believes that
the expectations reflected in such forward looking statements are reasonable,
it can give no assurance that such expectations will prove to have been
correct. These statements are subject to certain risks and uncertainties and
may be based on assumptions that could cause actual results to differ
materially from those anticipated or implied in the forward looking
statements. The Company is under no obligation to update or alter any forward
looking statement. These risks include operational and geological risks and
the ability of the Company to raise necessary funds for exploration. The
Company's forward looking statements are expressly qualified in their entirety
by this cautionary statement.
