THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS
AGENCIES PRESS RELEASE


Takara Resources Inc. (TSX VENTURE:TKK) ("Takara") announces that it has,
together with its strategic alliance partner, Aphrodeities Mining (Pty) Limited,
completed and submitted to the South African Department of Minerals and Energy,
applications for Prospecting Rights ("Applications") on 26 properties
prospective for coal; all of the properties are located in South Africa, in a
region active in coal exploration and production.


The properties that are subject to the submitted Applications were selected on
the basis that they cover areas which are underlain by coal-bearing formations
(South African Council for Geoscience). The Applications include a proposed Five
Year Prospecting Work Program. Should all Applications be accepted and the
prospecting rights granted, the total exploration commitment over a five year
period, in order to maintain all 26 properties in good standing during the life
of the permits, would total approximately CDN$8,000,000. Of this amount,
CDN$360,000 would be obligated to be incurred for the Year 1 program.


The granting of a Prospecting Right from the South African Department of
Minerals and Energy is based on the fulfillment of various criteria, one of the
most important being the ability to demonstrate a measure of participation by
historically disadvantaged South African residents who, prior to 1994, did not
have access to such opportunities (this regime is commonly referred to as Black
Economic Empowerment ("BEE")). Additionally, financial and technical ability are
important elements that will be considered.


The application process in South Africa is competitive, and accordingly, there
is no assurance that Takara will be granted any of the Prospecting Rights
applied for. Takara's strategic alliance with Aphrodeities Mining (a company
that qualifies as a BEE) however, provides a level of strength as a junior
explorer in South Africa, and in the southern parts of Africa, particularly
given the mutually exclusive attributes that each partner brings to the effort.


In the event that Takara Resources is awarded any of the rights applied for, it
shall hold an indirect 50% interest in the permits through a private subsidiary
company, that is held 50% by Takara and 50% by Aphrodeities, a private
arms-length South African company engaged in mineral exploration.


The memorandum of understanding between Takara and Aphrodeities Mining formed
the mandate for the Venus Energy Strategic Alliance, which continues to be in
force. In addition to launching the Applications for Prospecting Rights
described above, Takara and its local geological team are actively pursuing,
evaluating, and negotiating terms for the acquisition of various existing coal
projects, both in the Republic of South Africa and in southern Africa.


There is no guarantee that Takara will be granted any of the Prospecting Rights
applied for, nor is there any assurance that the titles to the properties
applied for will be available by the time that the Applications are vetted in
full by the Department of Minerals and Energy. Accordingly, Takara will continue
to review additional properties prospective for coal exploration with a view to
making additional Applications, as well as working closely with its geological
advisors in respect of ongoing evaluation of advanced/existing coal projects
held by third parties.


The securities of Takara Resources Inc. have not been registered under the
United States Securities Act of 1933, as amended, or the securities laws of any
U.S. State, and may not be offered or sold in the United States or to any "US
Person" (as defined in Regulation S under the Securities Act of 1933) absent
registration or an exemption from registration.


Certain information contained in this press release, including information and
statements which may contain words such as "could", "plans", "should",
"anticipates", "expect", "believe", "will", and similar expressions and
statements relating to matters that are not historical facts are forward-looking
information. All of the forward-looking information contained in this press
release is qualified by this cautionary statement. There can be no assurance
that the actual results or developments anticipated by Takara, as expressed or
implied by the forward-looking information, will be realized or, even if
substantially realized, that they will have the expected consequences to or
effects on Takara or its business operations. Takara disclaims any intention or
obligation to update or revise any forward-looking information as a result of
new information or future events. Readers should not place undue reliance on
forward-looking information.


THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR
DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES,
AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE
SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF
1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD
IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.


Bee Vectoring Technologies (TSXV:BEE)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Bee Vectoring Technologies Charts.
Bee Vectoring Technologies (TSXV:BEE)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Bee Vectoring Technologies Charts.