Cash Minerals and Nyah Resources Terminate Agreement for Purchase and Sale of the Agnew Lake Properties
December 18 2009 - 9:21AM
Marketwired
Cash Minerals Ltd. ("Cash Minerals")(TSX VENTURE: CHX) announces
that it has agreed to terminate its agreement to acquire the Agnew
Lake properties (the "Transaction") from Nyah Resources Corp.
("Nyah"). The termination of the agreement between Cash Minerals
and Nyah has resulted from Nyah terminating its agreement to
acquire Russo-Forest Corporation ("Russo-Forest")(see Nyah press
release of December 18, 2009). As Nyah has terminated its agreement
with Russo-Forest, Nyah has also decided to not sell substantially
all of its current assets to Cash Minerals.
As a result, Cash Minerals will not issue to Nyah an aggregate
of 15,000,000 common shares and 7,500,000 share purchase warrants
of Cash Minerals.
About Cash Minerals
Cash Minerals is a Canadian-based energy company focused on
uranium and coal exploration.
Cautionary Note Regarding Forward-Looking Information
This press release contains "forward looking information" within
the meaning of applicable Canadian securities legislation. Forward
looking information includes, but is not limited to, statements
with respect to the terms and conditions of the terminated
Transaction, and regulatory approvals. Generally, forward looking
information can be identified by the use of forward-looking
terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes",
or variations of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved". Forward-looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information, including but not limited to: general
business, economic, competitive, political and social
uncertainties; competition; future prices of mineral prices;
failure of plant, equipment or processes to operate as anticipated;
accidents, labour disputes and other risks of the mining industry;
and, delays in obtaining governmental approvals or required
financing or in the completion of activities. Although the Company
has attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward looking information. The Company
does not undertake to update any forward-looking information,
except in accordance with applicable securities laws.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
Contacts: Cash Minerals Ltd. Gregory Duras President and CEO
(416) 861-5801 info@cashminerals.com
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