NewsCanadian Arrow Mines finalizes agreement with Blackstone Resources
TIMMINS, ON, Sept. 14 /CNW/ - Canadian Arrow Mines Limited (CRO: TSX
Venture) ("Arrow") is pleased to announce that further to its news release of
May 24, 2006, Arrow has signed an agreement with Blackstone Ventures Inc.
("Blackstone") whereby Blackstone has granted an option to Arrow to acquire a
100% interest in 74 patented claims on the Kenbridge Nickel Deposit (the
"Kenbridge Property"), including the acquisition of Blackstone's 99% interest
in the Kenbridge Nickel Mines Limited. The principal asset of Kenbridge is 24
of the patented claims comprising the Kenbridge Property, which is located
within the Kenora mining division in the Atikwa Lake and Fisher Lake areas.
Consideration payable for the Kenbridge Property includes the issuance to
Blackstone of an aggregate of 2,500,000 shares of Arrow over four years, work
commitments totaling $9,000,000 over five years, and a cash back-end payment
to Blackstone of $1,000,000.
For further details on the Kenbridge Property, please refer to the NI
43-101 Technical Report on the Kenbridge Property dated August 24, 2006, filed
on SEDAR on September 7, 2006.
About Canadian Arrow Mines, Ltd.
Canadian Arrow Mines, Ltd. is an established Canadian exploration and
development Company committed to developing and advancing base metal deposits
close to existing infrastructure through exploration, development and
acquisition. Shares of Canadian Arrow Mines trade on the TSX Venture Exchange
under the symbol "CRO".
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For further information: visit the website at
www.canadianarrowmines.com, or call toll free, 1-877-262-6354, or contact
Canadian Arrow Mines, Ltd., Dean MacEachern, Vice President Exploration, Tel:
(705) 673-8259, E-mail: dmaceachern@canadianarrowmines.com, Website:
www.canadianarrowmines.com; CHF Investor Relations, Mara Strazdins, Vice
President, Tel: (416) 868-1079 ext. 222, E-mail: mara@chfir.com, Website:
www.chfir.com
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