Sanatana Provides Update on Trelawney Easement Application
23 Janvier 2014 - 3:00PM
Marketwired
Sanatana Provides Update on Trelawney Easement Application
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 23, 2014) -
Sanatana Resources Inc. ("Sanatana" or the "Company")
(TSX-VENTURE:STA) announces that the Ontario Mining and Lands
Commissioner has agreed to hear the Company's preliminary motion
requesting that the easement application filed by Trelawney Mining
and Exploration Inc. ("Trelawney") be dismissed on the basis that
Trelawney has not met the requirements under subsection 175(4) of
the Mining Act (Ontario). The preliminary motion is
scheduled to be heard on March 11, 2014. For further details on
Trelawney's easement application, see the Company's news releases
dated: April 29, 2013, July 4, 2013 and November 5, 2013 (copies of
which are available under the Company's SEDAR profile at
www.sedar.com).
Sanatana objects to the proposed easements on a number of
grounds and looks forward to presenting its position to the
Commissioner. Sanatana will keep its shareholders up to date on any
new developments related to the easement application.
About the Company
Sanatana Resources Inc. is a Canadian mineral exploration and
development company focused on its Watershed property in Ontario.
Sanatana entered into an option and joint venture agreement with
Trelawney Augen Acquisition Corp. (formerly Augen Gold Corp.)
("TAAC") which grants Sanatana an option to acquire up to 51% of
the Watershed Property. As at November 28, 2012, Sanatana exercised
its first option and is the legal and beneficial owner of 50% of
the Watershed Property. Sanatana has until March 23, 2016, to
decide whether to exercise its right to acquire a further 1% in the
Watershed Property.
In June 2012 IAMGOLD Corporation completed its acquisition of
Trelawney Mining and Exploration Inc. and became the sole indirect
shareholders of TAAC. In 2013, Sanatana expanded the Watershed
Property by acquiring, for the sole benefit of Sanatana and TAAC, a
20% interest in three additional mining claims located in Yeo and
Chester Townships, Ontario. With an experienced management team and
board of directors, the Company has the ability required to
identify, develop and fund economic mineral properties. Sanatana is
based in Vancouver and is listed on the TSX Venture Exchange
(TSX-VENTURE:STA).
SANATANA RESOURCES INC.
Peter Miles,
President and Chief Executive Officer
Cautionary Statement
Regarding "Forward-Looking" Information
Some of the
statements contained in this press release are forward-looking
statements and information within the meaning of applicable
securities laws. Forward-looking statements and information can be
identified by the use of words such as "plans", "expects",
"intends", "is expected", "potential", "suggests" or variations of
such words or phrases, or statements that certain actions, events
or results "may", "could", "should", "would", "might" or "will" be
taken, occur or be achieved. Forward-looking statements and
information are not historical facts and are subject to a number of
risks and uncertainties beyond Sanatana's control. Actual results
and developments are likely to differ, and may differ materially,
from those expressed or implied by the forward-looking statements
contained in this news release. Accordingly, readers should not
place undue reliance on forward-looking statements. The Company
undertakes no obligation to update publicly or otherwise revise any
forward-looking statements, except as may be required by law.
Neither TSX
Venture Exchange nor its Regulations Services Provider (as that
term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
Sanatana Resources Inc.Mr. Peter MilesPresident and Chief
Executive Officer604-408-6680investor@sanatanaresources.com
Sanatana Resources (TSXV:STA)
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