Hot Web, Inc. Enters Agreement With Sarissa Resources to Acquire Interest in Shining Tree Property Tuesday January 13, 9:59 am ET
BOSTON, Jan. 13, 2009 (GLOBE NEWSWIRE) -- Hot Web, Inc. (Other OTC:HWBI.PK - News) announced today that the Company has entered into an option agreement with Sarissa Resources, Inc. (Other OTC:SRSR.PK - News) to earn up to a 50% interest in the Claims located in the townships of Asquith and Churchill in the Province of Ontario, generally known as the ``Shining Tree Property''. The 50% ``earn-in'' interest will require Hot Web to fund expenditures to begin exploring and drilling the property. Sarissa Resources will retain a 50% interest in the property and will act as property operator. ADVERTISEMENT
Jason Cooper, Interim CEO of Hot Web, Inc., commented, ``We are very excited about taking our first step into mineral exploration alongside Sarissa. I have seen first hand the abilities, credibility and resources that Sarissa and its President Scott Keevil has in the world of exploration.''
Cooper further stated, ``Most mining companies have more projects than they can fund or handle, from an operations standpoint, at any one time. This creates a tremendous opportunity for us to partner with these companies to bring those ''back burner`` projects to the front of the line. I will continue to work with current and past clients of Presage to capitalize on such projects.''
As part of this new direction, the Company will shortly be affecting a name change and the current slate of directors will be resigning and a new group nominated.
About Hot Web
As previously announced, Hot Web is currently negotiating the sale, joint venture and potential spin-off of the Hot Web online properties. The Company, through Presage Partners LLP, has access to a substantial number of mining assets that it is seeking to capitalize on. These mining assets include copper, gold, nickel, platinum, palladium, silver, uranium and Rare Earth Elements. The various mining opportunities are in different stages of development. Some properties are ready for drilling, others are producing and a large number of the properties are available for joint venture rather than an outright sale.
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