Caribou King Resources fka CKR

[Sam Dan]

Important change in strategy by management
"CANADA CARBON ACQUIRES CALUMET CLAIMS FROM CARIBOU KING

Canada Carbon Inc. has entered into a definitive agreement with Caribou King Resources Ltd. to acquire a 100-per-cent interest in eight claim units contiguous to Canada Carbon's historic Miller graphite mine. The company and Caribou King act at arm's length. The Calumet claims are located 80 kilometres west of Montreal near Grenville, Que. With this new land acquisition, the Miller graphite property will now cover 94.2 square kilometres.

Terms of the agreement

Pursuant to the agreement, the company has agreed to issue Caribou King a total of 200,000 common shares upon the approval of the transaction by the TSX Venture Exchange. The company has also agreed to pay Caribou King $15,000.

The Calumet claims are subject to an existing 2-per-cent net of processed material returns royalty which can be reduced at any time to 1 per cent by paying $1-million to the royalty holder."