Sanatana Announces New Corporate Presentation, Posting of Easement Application Materials, & Ontario Mining & Lands Commission...
12 Juin 2014 - 2:00PM
Marketwired
Sanatana Announces New Corporate Presentation, Posting of Easement
Application Materials, and Ontario Mining and Lands Commissioner's
Order on Request for Clarification
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 12, 2014) -
Sanatana Resources Inc. ("Sanatana" or the "Company")
(TSX-VENTURE:STA) announces that it has released a new corporate
presentation available at www.sanatanaresources.com. The new
corporate presentation provides an overview of Sanatana's interest
in the Watershed Property and Trelawney Mining and Exploration
Inc.'s ("Trelawney") easement application on such property (the
"Easement Application"). Trelawney is a wholly-owned subsidiary of
IAMGOLD Corporation and the Easement Application was filed by
Trelawney in connection with the Côté Gold Project.
Sanatana is in the process of updating its website to include
materials pertaining to the Watershed Property and the Easement
Application. These materials will include the following:
- A copy of the redacted option and joint venture agreement
between Augen Gold Corp. (now Trelawney Augen Acquisition Corp.)
and Sanatana Diamonds Inc. (now Sanatana Resources Inc.) dated
effective February 14, 2011 (the "Option and JV Agreement"). A copy
of the Option and JV Agreement was originally filed under
Sanatana's SEDAR profile on May 8, 2012.
- A copy of the Ontario Mining and Lands Commissioner's (the
"MLC") Order to File dated April 26, 2013, with respect to
Trelawney's application to commence the Easement Application (the
"Order to File"). For further information see Sanatana's news
release dated April 29, 2013.
- A copy of the MLC's Order Amending the Order to File dated June
4, 2013, with respect to Trelawney's request to amend the Easement
Application. For further information see Sanatana's news release
dated July 4, 2013.
- A copy of the MLC's Order to Motion for Dismissal dated May 8,
2014, with respect to Sanatana's preliminary motion to the tribunal
of the MLC to set a timetable for the Easement Application, compel
the production of certain documents and, in the alternative, to
dismiss the Easement Application on the basis that Trelawney had
not filed the documents required under subsection 174(4) of the
Mining Act (Ontario) (the "May 2014 Order"). For further
information see Sanatana's news release dated May 9, 2014.
- A copy of the MLC's Order on Request for Clarification dated
June 6, 2014 (the "Request for Clarification").
With respect to the Request for Clarification, Trelawney
requested that the MLC clarify two points contained in the May 2014
Order. Specifically, Trelawney requested that the MLC tribunal (i)
confirm that the May 2014 Order did not require Trelawney to
undertake and file surveys unless and until the requested easements
are granted and (ii) provide reassurance that the tribunal was
interested in the status of relevant feasibility studies regarding
the Côté Gold Project. Trelawney asked to have the foregoing points
clarified through the vehicle of a case conference. In denying the
request for a case conference, the MLC tribunal stated, among other
things:
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"The Order of May 8, 2014 is clear in its
requirements and in its reasons. Having reviewed the Order the
tribunal sees no need to clarify the contents of what amounts to a
list based on statutory requirements or the wording of the reasons.
In reviewing the correspondence sent by both parties to the
tribunal it is obvious that a case conference would simply provide
a venue for re-litigating what has already been decided. This is an
improper use of a case conference." |
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Peter Miles, Chief Executive Officer of Sanatana stated: "We
look forward to receiving Trelawney's extensive suite of documents
in support of its easement application so that we can prepare our
response to the materials. We have a number of objections to
Trelawney's easement application and once the required information
is produced and filed, we look forward to presenting our
supplementary position to the tribunal."
For further information on the Easement Application, see the
Company's news releases dated: April 29, 2013, July 4, 2013,
November 5, 2013, January 23, 2014 and May 9, 2014 (copies of which
are available under the Company's SEDAR profile at
www.sedar.com).
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 consisting of 46 mining claims totalling
approximately 19,006 acres and located within the townships of Yeo,
Chester, Neveille and Benneweis. 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. In addition to the Watershed Property,
Sanatana also has exploration property in Saskatchewan. 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 Officer604-408-6680 or Toll Free:
1.877.881.6680604.608.9500investor@sanatanaresources.comwww.sanatanaresources.com
Sanatana Resources (TSXV:STA)
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