US Canadian Minerals, Inc. Announces Cancellation of 37% of Issued and Outstanding shares and Obtains Option on Mining Claims in! Chile
Tuesday February 6
LAS VEGAS, Feb 06, 2007 – U. S. Canadian Minerals, Inc. (Pink Sheets: USCA) announced today the cancellation of 39,626,500 shares of stock. Certain shareholders agreed to the cancellation of the shares as being in the best interests of the Company.
This represents the cancellation of approximately 37% of the issued and outstanding common shares of the Company.
Also, the Company announces today that the Company has obtained an option on 1,200 hectares of mining claims in the Xth region of Chile. The claims cover some 5 kilometers of paleo channel graded at above 2 grams gold per cubic meter from various studies done from 1970 to 2002.
U S Canadian is currently seeking funding to initiate production in the 1,500 to 4,000 cubic meters per day range.
U S Canadian Minerals also wishes to announce the appointment of Mr Adam Jenn as Chief Executive Officer. Mr. Jenn also holds the position of President and Director.
Contact:
U.S. Canadian Minerals, Inc.
Tormi Jõgeda, Investor Support Services
702.357.USCA (8722)
www.uscanadianminerals.com
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