| | | September 25, 2006
MBMI Distributes Garson Resources Ltd. Shares As Stock Dividend
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| | September 25, 2006. MBMI RESOURCES INC. (MBR:TSXV) ("MBMI") and GARSON RESOURCES LTD. ("Garson") report that common shares of Garson have now been distributed by MBMI to MBMI's shareholders by way of stock dividend to holders of record as at January 6, 2006, as originally announced December 23, 2005.
Garson Resources Ltd. has been approved for listing on the CNQ (Canadian Trading & Quotation System Inc.), subject to the satisfaction of certain conditions. Garson expects to be in a position to be called to trade on the CNQ under the symbol "GARR". A news release will be issued upon receipt of the exact date.
These dividend shares represent 4,491,250, or approximately 23%, of the issued and outstanding shares of Garson. The remaining Garson shares are subject to a 4 month hold expiring December 31, 2006.
About Garson Resources Ltd.
Garson is a mining exploration company whose business is to explore and develop its current gold properties as set out below and to acquire other mineral properties of merit. It is Garson's intention initially to focus on its Squall Lake Property.
Squall Lake Property
The Squall Lake Property is located in west central Manitoba approximately eight kilometers north-northwest of the town of Snow Lake and the same distance from the New Britannia Gold Mine & Mill. Garson owns a 100% interest (subject to underlying royalties) in the property. The property consists of 14 contiguous, unpatented mining claims totaling 899 hectares.
McMillan Gold Mine Property
Garson holds a block of 34 contiguous unpatented mining claims located in Mongowin & McKinnon Townships, Sudbury District, Ontario, Canada. A historical gold producer, public documents indicate that the McMillan Gold Mine Ltd. commenced shaft sinking in 1927 after the successful completion of five surface holes drilled in 1926 on gold-bearing veins. The Property is subject to an Option Agreement, dated for reference October 25, 2004 with Young-Shannon Gold Mines, Limited.
Copper Prince Property
The Copper Prince Property comprises a contiguous block of 16 patented mining claims in Lots 5, 6 and 7 and Concessions 2 and 3 of Falconbridge Township, Sudbury Mining Division, Sudbury District, Ontario, Canada. The Property is subject to an Option Agreement, dated for reference May 30, 2006 with Piper Capital Inc.
Potential Acquisition
Garson is currently in discussions to obtain the right to earn an interest in an additional Canadian gold property. Garson expects to announce the results of these discussions in the near term.
Additional Information
Additional information regarding Garson and its properties can be found in its prospectus dated August 25, 2006, filed on SEDAR at www.sedar.com.
For further information:
David G. Tafel - VP Corporate Development, MBMI Resources Inc., and VP Administration, Garson Resources Ltd.
Tel: 604-683-1991; Fax: 604-683-8544; Toll free: 1-877-399-1991
Email: mbr@mbmiresources.com
Website: www.mbmiresources.com
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
This Press Release contains forward-looking statements regarding the future listing of Garson's shares on the CNQ, Garson's intention to initially focus on the Squall Lake Property, and discussions concerning an additional Canadian gold property, which statements can be identified by forward-looking terminology, such as "subject to", "expects", "to be", "near term" and comparable terminology referring to future events or results. Forward-looking statements are statements about the future, are not historical facts, and are inherently uncertain. Actual events or results could differ materially from those anticipated in or by these forward-looking statements as a result of numerous factors, including uncertainty whether Garson's shares will be listed and called to trade under the symbol "GARR" or at all; uncertainty whether the current discussions for an additional gold property will be successful; the need for future funding; exploration and development risks; environmental risks; changes in business strategy; conflicts of interest; and other risks and uncertainties disclosed under the heading "Risk Factors" in the Prospectus of MBMI and Garson dated August 25, 2006 filed on sedar at www.sedar.com |
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