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CUI Currie Rose Resources Inc

0.055
0.00 (0.00%)
26 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Currie Rose Resources Inc TSXV:CUI TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.055 0.05 0.065 0 01:00:00

Currie Rose Resources Inc.: Purchase of Tanzania Gold Properties

25/02/2009 2:30pm

Marketwired Canada


Currie Rose Resources Inc. (the "Company") (TSX VENTURE:CUI) has been informed
by its joint venture partner, Sub-Sahara Resources NL ("Sub-Sahara"), it has
accepted an offer for the sale of all its gold assets located in Tanzania.


Under the current joint venture agreement between the Company and Sub-Sahara,
the Company has 120 days to exercise its first right of refusal, at the exercise
price of $100,000 Aud, on the Lake Victoria joint venture properties (Mabale and
Nyamirembe Tenements), forming part of the properties Sub-Sahara Resources plans
on selling.


The Company intends to exercise its right of first refusal which will result in
the Company owning 100% of the Mabale tenements that host the Mwamazengo gold
discovery and Nyamirembe tenements.


On completion of the transaction, the Company's land holdings in Tanzania will
consist of a 100% interest in Mabale and Nyamirembe, 100% interest in Jubilee
Reef (joint venture with Barrick Gold) and the Sekenke joint venture in which
the Company has earned 30% interest, with the right to earn up to a 70%
interest.


The Company views this transaction to be an important step for the Company
moving forward with its portfolio of gold properties in Tanzania.


ON BEHALF OF THE BOARD OF DIRECTORS

Harold Smith, President

The Qualified person for the release of this exploration information is Michael
Griffiths MAusIMM, Director of Currie Rose Resources Inc. and Managing Director
of Sub-Sahara Resources NL.


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