WOW Huge news - and only 9 mil s/oNEWS RELEASE PAGE
Headline: Stelmine is entering in to hydrocarbons exploration activities
Symbol: STH
LAVAL, QC, June 9 /CNW/ - Stelmine Canada Ltd. ("Stelmine") (TSX:STH) announce the conclusion of an agreement in which the company is acquiring 100% interest in mining licence covering 34,000 hectares of land in the Gaspesia hydrocarbons area.
The permit purchased is bordered by Petrolia Resources to the south, Mundiregina Resources to the north near Les Mechins city. The property is in close proximity to Gastem (25 km south) and Junex resources (30 km east) in Gaspesia area.
The province of Quebec represents a vast territory where minerals and hydrocarbons potential are still largely underdeveloped. At this time Stelmine has a diversified portfolio of exciting prospects in Opinaca area and along the Destor Porcupine fault.
The management of the company expects to be able to start up working programs shortly to explore the economic possibilities of the prospects.
The Company is earning its interest by paying $125,000.00 and issuing 500,000 shares of its share capital to a prospecting company.
Stelmine Canada Ltd is a junior mining exploration company newly listed on the TSX Venture Exchange under the Symbol STH with 9,210,100 shares issued