Cougar Minerals Corp. Closes Sale of Rice Lake Claims to San Gold
October 17 2013 - 5:30PM
Access Wire
October 17,
2013 - Cougar Minerals Corp. - TSX-V: COU
("Cougar" or the
"Company") is
pleased to announce that it has closed
effective today its previously announced sale to San Gold
Corporation ("San Gold") of
a 100% interest in 20 mineral claims (the "Mineral Claims") representing
approximately 3,117 hectares of land in the Rice Lake gold belt.
San Gold paid Cougar a total consideration of 400,000 shares of San
Gold and $125,000 cash.
San Gold and Cougar were
parties to an option agreement dated June 14, 2011 (the
"Option
Agreement") by which San Gold had an option
to acquire 80% of the Mineral Claims in consideration for certain
exploration expenditures on the Mineral Claims and the purchase of
certain securities of Cougar. The purchase and sale agreement to
sell the Mineral Claims to San Gold has replaced the Option
Agreement and the Option Agreement has terminated and is no longer
in effect.
The closing of the sale of the Mineral
Claims is subject to approval of the Toronto Stock Exchange in the
case of San Gold.
COUGAR MINERALS
CORPORATION
For more information,
please contact:
Cougar Minerals Corporation
Murray Nye, President/CEO
(204)
989-2434
www.cougarminerals.com
s/
"Murray Nye "
Murray Nye
President
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policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. The information in this
release may contain forward-looking information under applicable
securities laws. This forward-looking information is subject to
known and unknown risks, uncertainties and other factors that may
cause actual results to differ materially from those implied in the
forward-looking information.