Cannon Exploration Inc. (fka CNEX)

[Talc Moan]

Attention Everyone just speculating but read this....

Did anyone else notice there was more talk of a JV in the re-updated quartely today.

I also just realized this excerpt in the latest pr last week.

Just speculating but I am wondering if today's move has alot more to do with someting else, than the GEO coming up.

Here is the whole pr with the Excerpt in bold


Cannon Announces Spring Exploration Program; Work to Start in Late May

PHOENIX, AZ, May 10, 2010 (MARKETWIRE via COMTEX) -- Cannon Exploration (PINKSHEETS: CNEX) is pleased to announce that the company will be returning to the Queen Alexandra property sometime in late May to continue with the next stage of exploration.
The company has also engaged a new geophysics company to contract for the management of the next phase of exploration on the property. Currently the companies are in the process of reviewing data from the previous exploration programs, and will draw from the information to complete the plan for the spring/summer program. The move to a new partner for the exploration of the Queen Alexandra is based on the company's desire to become compliant with the NI 43 101 standards on a going forward basis.

The Ontario Geological Survey lists 55 companies that have active programs or properties staked for base metals, gold, uranium, molybdenum, and diamonds, in the Kenora District, which includes Dryden.

Many of the properties have had previous exploration and some extraction over the years, but the many juniors are back in there as mineral prices remain high.

The area's geology is structurally complex and much of what lies deep down is relatively untouched. In the Kenora area, compared to more established camps like Red Lake, there's only a few diamond drill holes that have penetrated down 1,000 feet. Many companies are referring to historical information (drill logs, prospecting/assessment reports, government surveys and records, production logs) in an effort to take some of the guesswork out of the search for metals in the area.

Champion Bear, Treasury Metals, Manitou Gold, MPH, Canadian Arrow, Tamaka Gold, to name a few, are some of the companies currently exploring for various mineral deposits in the Kenora and Dryden regions.

About Cannon: Cannon Exploration is positioning itself to emerge as a quality mineral resource Exploration Company in the North American mining industry, focusing primarily on properties located in preferred mining districts in Canada.

Forward-Looking Statements: The statements which are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers' preferences and trends. The words "estimate," "possible," and "seeking" and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements.



Contact:
Investor Relations:
1-866-365-4724
Website: http://www.cannon-exploration.com


SOURCE: Cannon Exploration Inc.



CONTACT: http://www.cannon-exploration.com

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SUBJECT CODE: Manufacturing and Production:Mining