Takara Resources Inc.: Update-South African Coal Applications and Other Projects

Takara Resources Inc.: Update-South African Coal Applications and Other Projects

Takara Resources Inc. announces that it has been actively addressing the criteria required by the South African Department of Minerals and Energy, in order to obtain prospecting rights on 5 projects prospective for coal, all of which are located in a region that is active in coal exploration and production.

Over the summer, Takara has, together with its South African partner, undertaken the completion of environmental management plans, consultations with affected third parties, and has taken steps for the posting of reclamation guarantees. The company will continue to provide updates as other matters transpire in respect of these applications.

Additionally, Takara announces that it has fulfilled its obligations in respect of a Uranium project that it has been evaluating, and accordingly, Takara shall, subject to the approval of the TSX Venture Exchange, issue 100,000 common shares to an arms-length vendor, in consideration for a 100% interest in 373 mineral claims located in the Noble Pond region of Baie Verte, Newfoundland and Labrador. This project is unaffected by the moratorium on uranium mining within the Nunatsiavut’s self-governed Labrador Inuit Lands.

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