Sacre-Coeur Minerals Ltd.

Published : November 19th, 2007

FORMAL AGREEMENT CONCLUDED FOR TRANSFER OF MILLION MOUNTAIN TITLE TO SACRE-COEUR

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Sacre-Coeur Minerals

Sacre-Coeur Minerals, Ltd.
Suite 1925, Box 11553
650 West Georgia Street
Vancouver, BC
V6B 4N8

FOR IMMEDIATE RELEASE

 

November 19, 2007                                                                                                                          TSX: SCM.V

FRANKFURT: S5N

 

 

FORMAL AGREEMENT CONCLUDED FOR TRANSFER OF MILLION MOUNTAIN TITLE TO SACRE-COEUR AND CONVERSION TO LARGE SCALE PROSPECTING LICENSE

 

VANCOUVER, British Columbia – SACRE-COEUR MINERALS, LTD. (the “Company”) today announced that pursuant to the terms of its Mining Agreement with Mr. Alfro Alphonso, it has exercised its right to convert six of the medium scale properties which had been held in trust for the Company by Mr. Alphonso to one large scale Prospecting License to be held directly in the name of the Company.  The converted area comprises approximately 31.2 sq km of contiguous property upon which the main zone of the Million Mountain Gold Project is situated.  The election to exercise this conversion privilege was based on continued favourable drilling results from the on-going core drilling program, encouragement from our regional exploration work in the area, and anticipated completion in Q1 2008 of an initial NI 43-101 compliant resource estimate.

 

In addition to executing documents to effect the foregoing conversion of the underlying licenses to a large scale Prospecting License, formal documents were executed to transfer legal title to Million Mountain directly into the name of the Company.  Such documents were signed by the Company, Mr. Alphonso, and Prime Minister Samuel Hinds of Guyana on November 14, 2007.  The Prime Minister is the Chief Executive Officer of the Mining Sector for the Cooperative Republic of Guyana.  Formal issuance of the large scale Prospecting License in the name of the Company is expected shortly after completion of ministerial documentation by the Guyana Geology and Mines Commission and publication of notice of the impending action in the Official Mining Gazette.  Notwithstanding conversion of the property to large scale and transfer of title into the name of the Company, the converted property remains subject to re-conveyance to Mr. Alphonso in the event the Company fails to meet certain obligations under the Mining Agreement.

 

The Company and Mr. Alphonso also have executed an amendment to the Mining Agreement between the parties which covers over 2,210 sq km of prospective mineral properties in Guyana.  The amendment provides for extension of Mr. Alphonso’s right to mine alluvial gold from the Company’s properties, subject to certain restrictions, payment of a royalty by Mr. Alphonso to the Company, and to the Company’s absolute right to pre-empt Mr. Alphonso’s activities in favour of activities by the Company.  In addition, the amendment clarified some minor ministerial aspects of the Mining Agreement.

 

According to Irwin Olian, CEO of the Company, “We are delighted with progress on the ground at Million Mountain as our geological team continues to advance the project.  Conversion to large scale status and transfer of title to the Company will facilitate financing and development, and represent important steps forward.  We continue to value highly our relationship with Mr. Alphonso, who has proven himself to be a strong and able partner working constructively with the Company to accelerate development of our portfolio in Guyana.”

  

Technical Staff

 

The Company’s exploration program is overseen by Gregory B. Sparks, P. Eng., Senior Vice President Mining and Exploration for the Company, along with the project geologic staff including Henry Salvado, Chief Geologist Puruni Region, Alan Davies, P. Eng., P.Geo., Senior Project Geologist, J.C. Toro Taylor, Senior Project Geologist, and Raul Esccarachi, Senior Project Geologist, and Bjorn Jeune, Project Geologist.  All except Mr. Jeune are all Qualified Persons under NI 43-101.  Mr. Ardito Martohardjono, a Director of the Company and laboratory specialist, provides assistance establishing lab protocols and sample handling and assay quality control.

 

 

 

About Sacre-Coeur

 

The Company is engaged in the acquisition, exploration and development of properties for the potential mining of gold, metals and diamonds in South America, initially focussing on exploration for gold on its properties in Guyana. The Company presently has an interest in approximately 850 square miles of mineral properties in Guyana, including the Million Mountain Property. The Company has offices in Vancouver, Canada and Georgetown, Guyana.  More information about the Company is available at <www.scminerals.com>.

 

ON BEHALF OF THE BOARD OF DIRECTORS OF
SACRE-COEUR MINERALS, LTD.

 “Irwin Olian” 
Irwin Olian

Chairman & CEO

 
For further information, contact:

 

Irwin Olian, President and CEO

Email: tigertail@scminerals.com

Phone: 604-899-0100

Fax: 604-899-0200

 

Lee Dunston, Corporate Communications

Email:  ldunston@scminerals.com

Phone: 604-899-0100

Fax: 604-899-0200

 

 

 

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein.  The statements made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties.  Actual events or results may differ from the Company’s expectations.



Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Sacre-Coeur Minerals Ltd.

EXPLORATION STAGE
CODE : SCM.V
CUSIP : 786178
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Sacre-Coeur Min. is a gold exploration company based in Canada.

Sacre-Coeur Min. holds various exploration projects in Guyana.

Its main exploration properties are MILLION MOUNTAIN, NORTHWEST GOLD, KARTUNI and NORTHWEST REGIONAL BLOCK in Guyana.

Sacre-Coeur Min. is listed in Canada and in Germany. Its market capitalisation is CA$ 994 050 as of today (US$ 830 827, € 701 218).

Its stock quote reached its highest recent level on April 27, 2007 at CA$ 3.60, and its lowest recent point on August 15, 2014 at CA$ 0.01.

Sacre-Coeur Min. has 66 269 996 shares outstanding.

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Financings of Sacre-Coeur Minerals Ltd.
9/19/2013REPORTS NEGOTIATION OF US $10 MILLION FINANCING
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1/28/2009GRANTS STOCK OPTIONS
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1/18/2012ANNOUNCES APPOINTMENT OF MR. JOHN BOOTH AS DIRECTOR, AND ELE...
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8/26/2013Event Driven Trading Opportunity in Sacre-Coeur Minerals as ...
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3/29/2013March News (TSX-V: SCM - OTC: SCRMF)
3/14/2013targets $40mln a year cash flow (TSX-V: SCM, market cap $12...
2/7/2013ENGAGES DEDICATED INVESTOR RELATIONS COORDINATOR
10/5/2012CLOSES FIRST TRANCHE OF BROKERED OFFERING
2/6/2012ANNOUNCES ARRANGEMENT OF $650,000 CREDIT FACILITY
12/15/2011ANNOUNCES FORMATION OF CONTRACT DRILLING DIVISION
6/2/2011JOIN SACRE - COEUR MINERALS AT THE 2011 WORLD RESOURCE INVES...
2/1/2011Grants Severstal Two Week Extension
1/23/2009ENGAGES SCOTT YOUNG FOR INVESTOR RELATIONS TEAM
1/15/2009SHALLOW PROSPECT DRILLING AT SACRE-COEUR?S NORTHWEST DISTRIC...
7/7/2008ADDS SEVEN NEW TARGET ZONES AT MILLION MOUNTAIN ? DRILLING U...
11/19/2007FORMAL AGREEMENT CONCLUDED FOR TRANSFER OF MILLION MOUNTAIN ...
5/23/2007RECEIVES $1.8 MILLION FROM RECENT WARRANT EXERCISES
5/14/2007250 METER STEPOUT TO SOUTH YIELDS BROAD LOW GRADE ZONE; INTE...
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