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Slide #90. Canada Carbon — Calumet Claims From Caribou King
Canada Carbon (CVE:CCB.CA)
Calumet Claims From Caribou King
Canada Carbon Inc. (the "Company") (TSX VENTURE:CCB) announces that it has entered into a definitive agreement (the "Agreement") with Caribou King Resources Ltd. ("Caribou King") to acquire a 100% interest in eight claim units (the "Calumet Claims") contiguous to Canada Carbon's historic Miller Graphite Mine. The Company and Caribou King act at arm's length. The Calumet Claims are located 80 kilometres ("km") west of Montreal near Grenville, Quebec. With this new land acquisition, the Miller Graphite property will now cover 94.2 km2.
Canada Carbon is a development stage company and is in the process of exploring its mineral properties and has not yet determined whether the properties contain reserves that are economically recoverable. The recoverability of the amounts shown for mineral properties and related deferred exploration costs are dependent upon the existence of economically recoverable reserves, Co.'s ability to obtain necessary financing to complete the development of those reserves, the achievement of profitable production, or alternatively upon Co.'s ability to dispose of its interests on an advantageous basis.
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