EXMIN NEWSFEBRUARY 13, 2007 - 09:01 ET
EXMIN Announces Acquisition of 100% Interest in Street Township Claims and Expiration of Warrants
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 13, 2007) - EXMIN Resources Inc. ("EXMIN") (TSX VENTURE:EXM) is pleased to announce that it has acquired a 100% interest in four contiguous mining claims located in the Street Township, Sudbury Mining Division in Ontario (the "Street Claims"). EXMIN acquired a 50% interest in the Street Claims pursuant to an option agreement dated February 7, 2005, and could have acquired the remaining 50% interest in the Street Claims by incurring exploration expenditures of $600,000, making cash payments of $40,000 and issuing 600,000 common shares of EXMIN. Instead, EXMIN terminated this option agreement and, with the consent of the optionor, entered into an agreement directly with the underlying owners of the Street Claims to acquire the remaining 50% of the Street Claims for a cash payment of $10,000. It was also agreed that the net smelter returns royalties that were reserved in favour of the optionor and the underlying owners will be terminated.
EXMIN would also like to remind holders of share purchase warrants issued on February 25, 2005 that the warrants expire on February 25, 2007. Each warrant is exercisable into one common share of EXMIN at a price of $0.60. For additional information on how to exercise these warrants, holders are encouraged to contact Salvador Miranda, EXMIN's Chief Financial Officer, at (604) 806-6110.
About EXMIN
EXMIN Resources Inc. (EXMIN) is currently focused on the exploration and development of precious metal properties of exceptional merit in the Sierra Madre gold belt of Northwestern Mexico.
Note: EXMIN Resources Inc. (EXMIN) has taken all reasonable care in producing and publishing information contained in this news release. Material in this news release may still contain technical inaccuracies, omissions or typographical errors, for which EXMIN assumes no responsibility. This news release may include certain "forward-looking statements" including but not limited to comments regarding predictions and projections. All statements, other than statements of historical fact, included in this news release, including, without limitation, statements regarding potential mineralization, exploration results, and future plans and objectives of EXMIN, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in documents filed from time to time with the regulatory authorities.
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