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ICS Acquires "Karukuruku Concession"
Abbortsford, Canada (ots/PRNewswire) - ICS Copper Systems Ltd (The company or ICS), (ICX:TSX.V) is pleased to announce that it has signed a Joint Venture Agreement with Cooperative Miniere Maadini Kwa Kilimo (hereinafter referred to as "CCMK") to develop the "Karukuruku" concession located in the area of Kipushi, Haut Katanga, in the Province of Katanga, DRC better described as Arrete Ministeriel No. 383 CAB.MIN/MINES/01/04 OF 19/06/04.
Under the agreement ICS will earn a 70% equity position in a joint venture company to be called ICS Kipushi sprl by paying CDN$80,000 to CCMK as follows:
a) CDN$10,000 against signature of the contract.
b) CDN$50,000 within 21 days of signature of the contract to allow CCMK to obtain a P.R. (Permis de Researche) over the property.
c) CDN$20,000 once it is confirmed that a Permis de Researche has been obtained over the "Karukuruku" concession.
ICS will have the option to increase their equity position from 75% to 90% in the joint venture company at a future time and date still to be determined.
Mr. Graham Chisholm, President & CEO comments, "This adds to our portfolio of exploration properties in the DRC which we intend to develop in the future with the assistance of a well funded Joint Venture partner."
ICS COPPER SYSTEMS LTD.
Signed "Graham Chisholm"
Graham Chisholm, President & CEO
This release includes certain statements that are "forward-looking statements". All statements in this release, other than statements of historical facts that address future exploration, development and production activities, and other circumstances, events and developments that the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results, events and developments may differ materially from those in the forward-looking statements. The occurrence of certain risk factors, the probability of which is unknown, may also affect actual results, events and developments expected by the Company.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For further information: Graham Chisholm, email@example.com, Office: +1-604-859-3007, Cell: +1-604-302-0746; For Investor Relations: Brett Whitelaw, firstname.lastname@example.org, Tel: +1-604-662-8633, Web Page: http://www.icscopper.com
ots Originaltext: ICS Copper Systems Ltd
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For further information: Graham Chisholm, email@example.com,
Office: +1-604-859-3007, Cell: +1-604-302-0746; For Investor
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