TORONTO, ONTARIO--(Marketwire - July 17, 2012) - Cadman Resources Inc. (CNSX:CUZ) (the "Company") announces that the Company is currently in negotiations with Shenba Resources Holdings Limited ("Shenba"), a Hong Kong based company with an option to develop the Mbozi Copper Project (the "Project") in Tanzania. The Project consists of two Prospect Licenses for two adjacent concessions totaling 232.86 km2. The Project is located in the Mbozi District of the Mbeya Region in the United Republic of Tanzania. The Company is commencing its due diligence review with the intention of entering into a Letter of Intent with Shenba. Further details will be announced as they become available.
Recent Copper bearing rock samples taken by Shenba from within the Mbozi District have yielded assay results ranging from 20% to an excess of 50% Cu. This information is provided for reference purposes only. The prior mentioned results do not conform to the requirements of National Instrument 43-101 and should not be relied upon for any other purposes. The Company cautions that a qualified person has not yet completed sufficient work on the Mbozi Copper occurrences to confirm the above noted assays. This information should not be relied upon on as an indicator of actual resource or reserve estimates, and should be construed only as conceptual in nature.
About the Mbozi Copper Project
The Mbozi Copper Project is located in the Mbozi District of the Mbeya Region in the United Republic of Tanzania. The Mbozi District is the most western part of Tanzania and is bordered to the South by Zambia. Zambia is directly across the border from Mbeya and is the largest producer of copper in Africa and the eighth largest producer in the world. The Mbeya Region is under-explored with modern technology when compared to the northern and eastern parts of Tanzania, but it is now a fast developing mining region with numerous artesian mining operations. These mining operations are currently producing direct shipping ore copper from open pit mines destined for foreign markets.
The Mbeya Region has an adequate ground transportation network that links the Region and the rest of Tanzania. It's also the location of a regional TAZARA Railway hub that links Zambia and Tanzania and a new international airport current being built in Mbeya city.
About Cadman Resources Inc.
Cadman is a Canadian based junior mining exploration company with an option to earn a 55 percent interest in the Golden Star property in Ontario, Canada. The Company is also actively pursuing other significant mining opportunities worldwide.
The Company's filings are available for review at www.sedar.com and http://www.cnsx.ca/.
Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Corporation assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Corporation. Additional information identifying risks and uncertainties is contained in the Corporation's filings with the Canadian securities regulators, which filings are available at www.sedar.com.
The CNSX has not reviewed, approved or disapproved the content of this press release.