International Barytex Resources Ltd.: Shituru Project Contract Review
12 Juillet 2008 - 1:10AM
Marketwired
VANCOUVER, BRITISH COLUMBIA (TSX VENTURE: IBX) advises that in
regard to the contract review process the Democratic Republic of
Congo ("DRC") is undertaking, East China Capital Holdings Ltd
("ECCH"), a subsidiary controlled by the Company, has received a
proposal from Generale des Carrieres et des Mines (Gecamines) to
revise the Gecamines-ECCH agreement in regard to the Shituru copper
deposit located near Likasi, Katanga province, DRC.
ECCH has been advised by Gecamines that as a preliminary step to
finalizing the contract review initiated by the DRC Government,
ECCH should reach agreement with Gecamines on the proposed
modifications to the existing agreement. In this regard, it is
expected that Gecamines will set a meeting date within the next few
weeks for discussions. If agreement regarding changes to the
existing contract can be reached, Gecamines and ECCH would then
take these amendments to the DRC Government for approval. If no
agreement on the proposed changes can be reached, the matter would
then be put before a tribunal to be set up by the DRC
Government.
On behalf of the Board of Directors
INTERNATIONAL BARYTEX RESOURCES LTD.
Leo King, President and Director
Some statements in this news release contain forward-looking
information. These statements address future events and conditions
and, as such, involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the
statements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news
release
Contacts: International Barytex Resources Ltd. Leo King
President (604) 688-9368 International Barytex Resources Ltd. Alf
Hills CEO (604) 688-9368 (604) 688-9336 (FAX) Email: ibx@telus.net
Website: www.barytex.com
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