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ICBS signs letter of intent to acquire 49% of Canwealth Minerals Corporation
Feb 22, 2011 3:37:00 PM


NEW YORK and MONTREAL, Feb. 22 /PRNewswire-FirstCall/ - ICBS Ltd., (OTCPK: ICBT), announced that it has signed a letter of intent to acquire a 49% stake in the Canwealth Minerals Corporation.

Canwealth Minerals Corporation is a gold and precious metal mining company which holds claims in 585 acres in northern Quebec. The company's Management team is made up of professionals with extensive exploration and production experience. The company is committed to build Canwealth Minerals Corporation into a profitable resource by maximizing shareholder value through exploration of its high quality properties in Northern Quebec.

Canwealth Minerals Corporation significant number of drill ready targets including newly to be acquired sites.

The company's current strategic direction is, to seek out properties/claims known to have high value gold targets which will lead rapidly to the advanced exploration and development stages.

To accomplish this Canwealth Minerals Corporation's , experienced management team, through the use of the latest technology, will explore and drill its mining claims to expeditiously achieve resources, and take these to advanced project development .

Surface samples taken in 2010 show a solid gold content. Core drilling will commence this spring.

"We are very please to have ICBS as a strong partner which will bring strong management experience and skills to the company", said Kelly Taylor, President & CEO of Canwealth Minerals Corporation.

ICBS will be providing management and project funding.

Legal Notice Regarding Forward-Looking Statements:

Safe Harbour: This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbour created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of ICBS Limited, to be materially different from the statements made herein.

SOURCE Inter Canadian Business Service



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SOURCE: Canwealth Minerals Corporation
CBS Limited. CONTACT: Kelly Taylor
President & CEO TELEPHONE : [phone] www.icbs.ca