VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 8, 2014) -Sanatana Resources Inc. ("Sanatana" or the "Company") (TSX VENTURE:STA) announces that there are no undisclosed material changes or corporate developments involving the Company to account for the recent change in the Company's share price and increase in trading volume.
Separately, the Company confirms that it has made its written cost submission to the Ontario Mining and Lands Commission (the "MLC") in connection with the discontinuance of Trelawney Mining and Exploration Inc.'s ("Trelawney") easement application for the Côté Gold Project. Trelawney, a wholly-owned subsidiary of IAMGOLD Corporation, is required to make its cost submission to the MLC on or before December 10, 2014.
The Company will issue a further news release on the cost submission as soon as further details are available.
About the Côté Gold Project Easement Dispute
Further details of the Côté Gold Project easement dispute are posted to Sanatana's website (www.sanatanaresources.com) under the section entitled "Easement Dispute".
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-V: STA).