Supatcha Resources Inc. (SAEI)

[Warchest]

Supatcha Resources Acquires Maiskoe Gold Mine
Written by Editor on 02 October 2010
October 2, 2010 (Coal Geology) Supatcha Resources Inc. (OTC Bulletin Board: SAEI) (“Supatcha” or the “Company”) has signed a definitive agreement to acquire a 98% interest in the Maiskoe Gold licenses in Odessa Oblast, Savaransky District, Southern Ukraine.

Supatcha will pay the owners of the property a total of US$3,500,000 and will own 98% of the mine (including all of the capital equipment) and the mineral concessions. Supatcha has also agreed to invest a further US$2,800,000 in expanding the current operation over the next year. Prior to the acquisition, the Company already had several preliminary funding commitments based on the strong merits and history of the concessions.

The property was explored previously by a number of companies and previous drilling indicated geology finds that are favorable for a potential large Gold deposit. The initial drilling done in 1999 indicated gold mineralization in a number of drill holes. Further in 2001, a magnetic/electromagnetic geophysical airborne survey was also conducted over the property and identified several major mineralization areas of interest. Supatcha management has carefully procured significant relationships in the property area, over the last several years, to bring the necessary parties together to successfully continue the development of this high potential gold property and facility. Additionally, the property development plan completed on the Maiskoe as part of the due diligence process has recommended that a drill program for a total of 2000 meters be undertaken. Supatcha has committed to complete the recommended drill program and is currently in discussions to confirm equipment mobilization and drilling dates.