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Slide #63. Search Minerals Inc. — Minerao So Francisco de Assis Ltd. and Carlos Mena Resources Ltd.
Search Minerals Inc. (CVE:SMY.CA)
Minerao So Francisco de Assis Ltd. and Carlos Mena Resources Ltd.
Search Minerals Inc. ("Search" or the "Company") (TSXV: SMY) is pleased to announce that it has signed two non-binding Letters of Intent ("LOIs") with Minerao So Francisco de Assis Ltd. ("MSFA") and Carlos Mena Resources Ltd. ("CMR"), two privately held companies, each dedicated to the development and operation of tin assets in Brazil. The LOIs outline the general terms and conditions pursuant to which Search, MSFA and CMR would be willing to complete one or more transactions resulting in a combination of their respective business operations (the "Transactions"). The LOIs were negotiated at arm's length, and, ultimately, the outcomes are independent from one another. The assets are located in proven tin jurisdictions with previous and current mining activities, and they have been extensively drilled for resource estimation.
Search Minerals is in the business of acquiring, exploring and evaluating mineral resource properties and either joint venturing or developing these properties further or disposing of them when the evaluation is completed. The recoverability of amounts shown for mineral properties and deferred exploration is dependent upon the discovery of economically recoverable mineral reserves, confirmation of Co.'s interest in the underlying mineral claims, the ability of Co. to obtain the necessary financing to complete the development, and the attainment and maintenance of future profitable production or disposition thereof.
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