TORONTO, ONTARIO--(Marketwire - Aug. 27, 2012) - The Board of Martina Minerals Corp. (TSX VENTURE:MTN) ("Martina") wish to announce that, following on from its Press Releases of 1 May 2012 of a Letter of Intent with BlueCreek Management Mining Inc. ("BlueCreek"); a Filipino corporation, together with the Boston Tribal Multi-Purpose Cooperative ("Bostrimco"), which is the business arm of the Boston Mandaya Tribe, based in Boston, Davao Oriental and the Upper San Miguel Manobo Sectoral Tribal Council, it has now executed a Strategic Development Agreement with all parties.
Following on from the Company's Press Release of 14 June 2012, Martina has also signed an Investment Agreement with BlueCreek and Consolidated Ores Philippines Inc. ("COPI") another Filipino corporation, controlled by the Adviento family. COPI holds a granted MPSA on certain lands contained within the San Miguel Ancestral Domain.
The Boston property is to the east of Mt. Diwalwal, one of the largest gold deposits in the Philippines, which is itself immediately to the east of Martina's TRIMA 1 property. Bostrimco currently holds its rights to some 3,813 hectares, and has a pending Exploration Permit Application for a further 10,599 hectares of land, within its Central Ancestral Domain Title.
The San Miguel property is approximately 130 kilometres to the north of Boston. The property, which comprises approximately 20,000 hectares of land are along the well-known and highly mineralised East Mindano fault.
The COPI property is generally referred to as the Umalag district and is contained within the San Miguel Ancestral Domain and was explored by Normandy Mining during the late 1990's when the gold price was at a 23 year low.
All of the properties have received Free Prior and Informed Consent ("FPIC") from the indigenous tribal community.
Commenting on developments Mr Willie McLucas, President and CEO of Martina said:
"I have spent the past three weeks travelling extensively along the eastern seaboard of Mindanao with BlueCreek' s President and CEO, Eng. Edgar Martinez, a mining engineer with more than 30 years' experience in the region and members of his executive team to meet Tribal Leaders and Elders and the community. We look forward to developing a close working relationship with our partners in this venture."
The transaction is subject to regulatory approval.
To view the map associated with this press release, please visit the following link: http://media3.marketwire.com/docs/MartinaMineralmap827.pdf.
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