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Zimtu Capital Corp. Announces Rare Metal Property Transaction |
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Tuesday, 09 March 2010 09:46 |
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Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1) (the "Company" or "Zimtu") is pleased to announce that it has acted as one of the property vendors in BonTerra Resources Inc's (TSXv: BTR) ("BonTerra") acquisition of the Terrax Rare Metal Project, located in the James Bay Mining District of northern Quebec.
The property consists of 22 mineral claims covering 1,165 hectares which are immediately adjacent to the Pivert-Rose Rare Metal Property owned by First Gold Exploration Inc. For its participation in the BonTerra transaction, the Company will receive 1,000,000 common shares subject to the approval of the TSX Venture Exchange (the "Exchange"). The Vendors will retain a 2% Net Smelter Return ("NSR") royalty, 1% of which may be purchased by BonTerra for C$1,000,000. Zimtu continues to evaluate and acquire prospective resource properties to make available for sale or joint venture. As part of the Company's business, Zimtu provides mineral property advisory services and helps to connect companies with mineral properties of interest. |