Canadian Mining Grants Extension to Heemskirk on Bromley Creek Zeolite Mineadmin
Monday, August 30th 2010
Canadian Mining announces it has granted an extension on the Option to Purchase to Heemskirk Canada Limited on the Company’s Bromley Creek zeolite mine. The maturity date of the Agreement is June 30, 2015.
As activity increases in the Alberta oil patch and other zeolite markets open up the demand for the Company’s Bromley Creek zeolite will grow. Under the terms of the agreement, Heemskirk Canada will pay Canadian Mining a royalty of $7.50 per tonne on zeolite sold from the mine. This royalty payment will be deducted from the purchase price of $1,450,000.00.
Heemskirk will be responsible for all mining, loading areas, road access, reclamation reports and insurance during the term of the agreement. Canadian Mining is extremely pleased to continue their working relationship with Heemskirk Canada Limited.
In other news, Canadian Mining is planning to advance several of its Canadian industrial and precious metal properties located in British Columbia. News will be issued as it becomes available.
Canadian Mining is a well diversified company with advanced projects in Mexico, Arizona and British Columbia, Canada.