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Casavant Mining Kimberlite International Enters Into Joint Venture Agreement For Development Of Mineral Claims
Nov 19 2003

Casavant Mining Kimberlite International Enters Into Joint Venture Agreement For Development Of Mineral Claims

http://thediamondhunter.com/companies/popnews?newsid=5777
I find this very interesting and overlooked!!!


Sep 19, 2003 9:30:00 AM

LAS VEGAS, Sep 19, 2003

Casavant Mining Kimberlite International (Pink Sheets:CMKM) has reached an agreement for $900,000 in funding with three junior mining exploration companies. CMKI grants the options to United Carina Resources (CDNX-UCA-V) (www.unitedcarina.com), Consolidated Pine Channel Gold (CDNX-KPG-V) (www.pinechannel.com) and Shane Resources (CDNX-SEI-V) the right to acquire an undivided 10% interest each in 82 prospective claims held by the Company in consideration for the $900,000 in funding. The first $450,000 is due and payable on or before Dec. 31, 2003, and an additional $450,000 due and payable on or before Dec. 31, 2004. All three companies may accelerate the time in which the option price is to be paid. CMKI has first right of refusal to acquire up to a 49% interest in any property held individually by United Carina Resources, Consolidated Pine Channel Gold or Shane Resources, which is being or is to be explored for diamonds. Casavant Mining will use the funds advanced from the three companies to undertake work on the properties in accordance with programs recommended by qualified persons. 'We are pleased to welcome these companies on board and look forward to a long and lasting relationship in this joint venture,' said Urban Casavant. 'This is a pivotal point for the Company and a very important step necessary for the development of these claims. This $900,000 in funding ensures that progress will remain steady and the Company is focused on moving forward.'

There is no guarantee that drilling or further exploration will produce any economic benefit to the company or the shareholders of the company.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements, other than the statements of historical facts, contained in this release which are not historical facts, may be deemed to contain forward-looking statements with respect to events, the occurrence of which involves risk and uncertainties, including, without limitation, demand and competition for the company's products and services, the availability to the company of adequate financing to support its anticipated activities, the ability of the company to generate cash flow from operations and the ability of the company to manage its operations.

SOURCE: Casavant Mining Kimberlite International

Casavant Mining Kimberlite International Diamonds Hotline: Melvin O'Neil, 306-752-3755 Toll free in U.S./Canada: 877-752-3755 Fax: [phone] [e-mail]