January 7, 2010
Dentonia Resources Ltd. (“the Company”) is pleased to announce that it has signed a Second Option Agreement (“the Second Agreement”) securing an option to acquire, from Ronald William Olynyk and Dan Cardinal (“the Optionors”), a further 49% (for a total of 100%) equity interest and the Optionors relinquishing a 2% NSR, leaving the Optionors with only a 2% NSR, in a block of 62 mining claims (30,421.79 ha.) located in the Knight Inlet area, mainland British Columbia, now referred to as the Stafford Claims. On July 9, 2009 the TSXV accepted for filing the First Option Agreement allowing Dentonia to secure the initial 51% equity interest.
The claims are of interest due to the fact that 25 rock panel samples taken from the tungsten showing (34m x 60m mineralized area) of the Stafford Claims, assayed by the X-Ray Fluorescence/Fusion method, averaged a value of 1.59% tungsten (“W”), which equates to 2.01% tungsten trioxide (“WO3”). See News Release dated October 14, 2009.
Knight Inlet is located approximately 80kms north of Campbell River, mainland BC. Access is by boat, seaplane or helicopter to Fraser Bay at the head of Loughborough Inlet. The Stafford Claims can be reached either by helicopter or by an 11km-logging road inland from Fraser Bay.
The second option is being acquired for $75,000 in three equal installments and the issuance of 700,000 shares of the Company within one year of TSXV acceptance of the Second Agreement, which reserves, to the Optionors, a Net Smelter Return royalty of 2% to be contributed on a pro rata basis by the equity holders.
The Second 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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