Nagambie Resources Ltd V.NAG

Primary Symbol: NGMBF

Metals & Mining Gold

Nagambie Resources Limited is an Australia-based natural resources exploration company. The principal activities of the Company include exploration for, and development of, gold, associated minerals including antimony, and construction materials in Australia, and the investigation and development of waste handling assets. The Company is focused on targeting epitherm alantimony-gold mineralized systems across 3,200 square kilometers of tenements in the Waranga Domain of the Melbourne Structural Zone, in Victoria, Australia. The Company's flagship project is the Antimony-Gold Project, which sits in proximity to the gold-antimony mines at Fosterville (Agnico Eagle) and Costerfield (Mandalay Resources). The Antimony-Gold Project is located at the 100% owned Nagambie Mine. Its Whroo Goldfields project is located approximately 130 kilometers (km) north of Melbourne. It also holds interest in Whroo Project, PASS Project, and Sand Project.

OTCPK:NGMBF - Post by User

Nagambie Resources Ltd

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Post by dudediligenton May 30, 2008 2:05pm

222 Views

Post# 15128200

Important wording here in the NR

Saturn, Swift apply for another 117 coal permits

This has a lot to do with what NAG has been able to scoop IMO......

2008-05-30 10:55 PT - News Release

Also News Release (C-SWR) Swift Resources Inc

Mr. Mike Elson of Saturn reports

SATURN & SWIFT SUBMIT 117 ADDITIONAL COAL PERMIT APPLICATIONS ON PREVIOUSLY RESERVED LAND GOVERNMENT OF SASKATCHEWAN LIFTS BAN OF COAL PERMITS OVER PETROLEUM & NATURAL GAS CONCESSIONS

Saturn Minerals Inc. and Swift Resources Inc. have submitted to the Saskatchewan Ministry of Energy and Resources an additional 117 coal permit applications (the "new applications"), totalling 89,856 hectares overlying existing Petroleum & Natural Gas Concessions ("PNG Concessions") made available on May 27, 2008 for coal exploration by the Saskatchewan Government. Coal Permit and PNG Concessions can now be issued over the same land without restriction.

On May 28 and May 29, 2008, an additional 117 coal permit applications were submitted on behalf of Saturn and Swift over the previously unavailable PNG Concessions. The northern boundary of the PNG Concessions is located 19 km. south of the town of Hudson Bay, SK. The applications were made in accordance with the Coal Disposition Act of Saskatchewan. The time frame for granting permits for the applications is in accordance with the regulatory process by the Saskatchewan Government.

Including the new applications submitted within the PNG Concessions on May 28 and May 29, Saturn and Swift have now submitted applications for a total of 266,252 hectares (2,662.52sq. km.) in the vicinity of the Goldsource Mines Inc. coal discovery announced on May 22, 2008. Of the 266,252 hectares applied for, Saturn and Swift have received a "Comfort Letter" for 125,952 hectares (Saturn and Swift News Release May 28, 2008).

Saturn and Swift will hold all permits granted under the terms of the Joint Venture Agreement described in their news release of May 28, 2008 (60% Saturn, 40% Swift, with Saturn being the operator).

The Companies will provide additional information when it becomes available.

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