June 15, 2009
Dentonia Resources Ltd. (“the Company”) is pleased to announce that it has signed an Option Agreement (“the Agreement”) securing an option to acquire a 51% equity interest in a block of 16 mining claims (7,393.95 ha.) located in the Knight Inlet area, mainland British Columbia, surrounded mainly by intrusive rocks of the Coast Plutonic Complex.
The claims are of interest due to the fact that mineral showings have been observed and chip samples are currently being assayed. These claims appear to be a new discovery and there is no history of which the Company is aware.
Knight Inlet is located approximately 80kms north of Campbell River, Vancouver Island, across from Port McNeil on Vancouver Island, and is easily accessible from Campbell River by boat, seaplane or helicopter. The area has been logged in the past and is currently being logged. Accommodation, in the form of logging camps, is available.
The option is being acquired for an original payment of $5,000, staking costs of approximately $3,000, the issuance of 600,000 shares of the Company over two years, and a work commitment of $45,000 over the same two years. Two hundred thousand (200,000) shares will be issuable upon acceptance of the Agreement by the TSX Venture Exchange and the remaining shares will be issued on or before May 1, 2010. The Agreement reserves, to the Optionors, a Net Smelter Return royalty of 4.0% to be contributed on a pro rata basis by the equity holders.
The Option Agreement is subject to acceptance for filing by the TSX Venture Exchange.
For further information, please contact Adolf Petancic, President at (604) 682-1141.
Neither the 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 news release.
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