Golden Tag (TSX VENTURE:GOG) Reports Initial Rulings of Arbitration-ECU is Removed as Operator of San Diego Joint Venture

MONTREAL, QUEBEC--(http://www.investorideas.com/ gold and mining blog) - Sept. 27, 2010) - Golden Tag Resources Ltd (TSX VENTURE:GOG) ("GOG") is pleased to announce that it has received a decision in the matter of arbitration between Golden Tag and ECU Silver Mining Inc. ("ECU") over numerous breaches by ECU of the Joint Venture Agreement ("JVA") governing the highly prospective San Diego Property in Velardeña, Mexico.
GOG requested arbitration in June 2009 to resolve many difficulties encountered with ECU. This action was taken after a 3 month period in which time ECU failed to resolve the outstanding issues. The first stage of the arbitration focused on the question of liability and the arbitration Award was issued on September 20^th, 2010.
A second stage of arbitration to deal with the issue of damages may proceed as GOG has now been successful in proving fault by ECU. GOG has the right to elect to proceed with the second stage hearing by notification to the arbitration panel within 30 days of the Award.
The arbitration panel has confirmed:
1/ GOG was justified in commencing and proceeding with the arbitration. ECU admitted significant breaches of the JVA. It admitted that it used GOG's funds to pay creditors that were not creditors of the Joint Venture and commingled these funds with its own. In addition to these egregious breaches, ECU committed other defaults under the JVA including, among others, improper removal of ore-bearing stockpiles, failure to produce financial statements and failure to advise of lack of funds to complete the Phase 4 program.
2/ ECU failed to pay invoices of the two principal contractors during Phase 4 drilling which resulted in the premature termination of the program in December 2008 when drills were removed from the property by the contractor and reporting on all assay results was suspended. As of mid-2009 the contractors remained unpaid by ECU and full payment was only confirmed in March 2010.
3/ ECU failed to pay its share of the costs of the Phase 4 exploration program on a timely basis. In addition ECU used funds received from GOG during Phase 4 to pay invoices that were not connected with the Joint Venture.
4/ ECU failed to provide required financial statements.
The conclusion outlined by the Arbitrators in the Award of September 20^th states that ECU's behavior is "Egregious". The Award makes the following immediate orders:
1/ECU is to pay GOG's costs.
2/ Neither party will be diluted from their current 50% interests.
3/ An audit of the financial records of the Joint Venture by an independent firm of Chartered Accountants is to prepare adequate financial statements for the Joint Venture for December 31, 2010. The parties have 60 days to agree on auditors. Audit costs will be paid 2/3rds by ECU and 1/3^rd GOG.
4/ ECU is to transfer to GOG a 50% interest in the Cortez Mining Rights (San Diego) for no additional consideration.
5/ ECU is to pay GOG 50% of the gross revenue it reported from metals in the stockpile material mined from the property in 2009, an amount equal to US$60,565.12.
6/ ECU has been removed as Operator. The Management Committee is to meet within 30 days to select a new Operator. If there is no agreement on selection of Operator after 60 days, additional submissions may be made for arbitration of this decision.
7/ GOG may, within 25 days of the date of the Award, make submissions seeking payment of its legal fees.
It is the Company's intention to work with ECU to resolve outstanding issues related to the arbitration ruling in an expedient manner as possible so that work may re-commence on the property as soon as possible. The Company intends on issuing more information in the near future.
San Diego Property, Durango State, Mexico
Four phases of surface exploration have been undertaken by the JV on the San Diego Property. Successful exploration drilling has to date identified a major new polymetallic Silver –Lead – Zinc – (Gold) [Ag-Pb-Zn-(Au)] mineral discovery on an extension of the Velardeña Mine trend. NI 43-101 compliant reporting in January 2009 [News Release: Jan 19^th 2009] identifies combined Joint Venture Mineral Resources of:

• Indicated Resources: 0.371 Million tonnes (MT) grading 245 grams Ag per tonne (Ag g/t), 1.80 percent Pb (% Pb), 1.33 percent Zn (% Zn) and 0.339 grams Au per tonne (Au g/t); representing
  • 4.25 Million Ounces of Silver-equivalent (oz.Ag.EQ); and,

• Inferred Resources: 21.63 Million tonnes (MT) grading 110 Ag g/t, 1.84 % Pb, 2.21 % Zn and 0.134 Au g/t; representing an additional
  • 214.3 Million oz.Ag EQ.

• Micon International Inc. also estimated that the property remains highly prospective with additional mineral potential, on strike and at depth, of an additional estimated
  • 173.5 to 389.5 Million oz.Ag EQ.

Golden Tag Resources Ltd.
Golden Tag is a junior exploration company exploring for high grade gold and silver deposits at the San Diego silver project in Durango State, Mexico; the Aquilon Gold project in James Bay, Quebec; and the McCuaig gold project in Red Lake, Ontario. Golden Tag has 39,770,958 issued and outstanding shares.
Statements in the release that are "forward-looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially. We undertake no duty to update any forward-looking statement to conform the statements to actual results or changes in our expectations.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. 

For more information, please contact
Golden Tag Resources Ltd.
Marc A Carrier, President
514-426-8542
514-426-8543 (FAX)
pres@goldentag.ca
www.goldentag.ca

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Investorideas.com - ADVENTURE GOLD (TSX-V:AGE) ACQUIRES THE GRANADA EXTENSION PROPERTY ADJACENT TO GOLD BULLION'S LONG BARS ZONE, ROUYN-NORANDA, QUEBEC

Investorideas.com - ADVENTURE GOLD (TSX-V:AGE) ACQUIRES THE GRANADA EXTENSION PROPERTY ADJACENT TO GOLD BULLION'S LONG BARS ZONE, ROUYN-NORANDA, QUEBEC




MONTREAL, QC September 27, 2010 (Investorideas.com Mining stocks newswire) - Adventure Gold Inc. (AGE: TSX-V) (the "Company"), is pleased to announce the acquisition of the new high gold potential Granada Extension property covering approximately 200 hectares along the Cadillac Larder Lake Gold Break, in the Rouyn-Noranda mining camp, Quebec (Figure 1 – see website). The Property includes the interpreted lateral and southern extensions of the Gold Bullion Long Bars Zone, where a preliminary block model outlined a gold-mineralized system that offers a potential of 2.4 million ounces of gold (non-compliant with NI 43-101; Gold Bullion press release, April 22, 2010). The Granada Extension property boundary (Figure 2 – see website) is located less than 30 meters from the southernmost part of the former Granada Mine pit #2, 250 meters East of drill hole GR-10-17 which had returned 1.0 g/t Au over 99 meters and less than 450 meters West of pit #1 and drill hole GR-10-21 which had returned 2.2 g/t Au over 20 meters (Gold Bullion press release, March 1, 2010).

Jules Riopel, Vice-President Exploration and Acquisitions at Adventure Gold stated: "A proven major gold structure environment and several favourable geological features were recognized on the Property, leading us to acquire this strategic land position. In fact, porphyritic dykes, shear zones, and quartz veins were observed South and South West of the former Granada Mine. Moreover, our interpretation of the information released by Gold Bullion and those from the Quebec Sigeom database suggest that the Long Bars Zone probably extends onto our new Property and these extensions had never been drilled. A prospecting program is slated to start this week."
The Granada Extension property consists of 11 mining titles, three of which were bought from two individuals in counterpart of staged cash payments totalling $50,000 over 4 years, 100,000 shares and 250,000 stock options at $0.25 of the Company. The vendors will retain a 1.5% NSR, of which 0.5% can be bought back for $500,000. The shares issued by the Company pursuant to the agreement with the vendors shall be subject to a four-month hold period from their issuance date. This agreement is subject to the approval of the TSX Venture Exchange. Jules Riopel P.Geo. Vice-President Exploration and Acquisitions, who acts as the Company's "Qualified Person" as defined by NI 43-101, has reviewed this press release.
Profile:
Adventure Gold Inc. is a mining exploration company focused on discovering high quality gold deposits in the Abitibi greenstone belt located in north-west Quebec and north-east Ontario - one of the richest gold deposit areas in the world. Adventure Gold holds quality assets in the Val-d'Or, Québec and Timmins, Ontario areas and is led by determined management and technical teams with extensive exploration and mine production experience. Adventure Gold is proud to count on highly regarded partners such as Agnico-Eagle Mines, Lake Shore Gold and RT Minerals to explore advanced stage gold properties. The Company owns more than $3.5M in cash and stocks and will continue to aggressively seek new properties in compliance with the corporate strategy. For more information, please contact:
Marco GagnonPresident & CEOmarco@adventure-gold.com450.743.5527
Jules RiopelVice-President Exploration and Acquisitionsjules@adventure-gold.com819.797.9770
http://www.adventure-gold.com/
The forgoing information may contain forward-looking statements and events relating to the future performance of the Company. Forward looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Company's filings with the appropriate regulatory authorities. We seek safe harbour.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Visit this company: http://www.adventure-gold.com/



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Published at http://www.investorideas.com/ - Global research by sectors
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Investorideas.com - Lucky Strike (TSX.V-LKY) Acquisition Changyun Coal Mine in China, Proposes $1,500,000 Private Placement

Investorideas.com - Lucky Strike (TSX.V-LKY) Acquisition Changyun Coal Mine in China, Proposes $1,500,000 Private Placement



Vancouver, British Columbia, CANADA - September 24, 2010 (www.investorideas.com mining stocks newswire) - Lucky Strike Resources Ltd. (TSX.V-LKY), (the "Company") is pleased to announce today its intention to complete a non-brokered private placement of up to 6 million units (the "Units") at a price of $0.25 each for gross proceeds of up to $1,500,000. Each Unit consists of one common share of the Company (a "Common Share") and one-half Common Share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional Common Share at an exercise price of $0.40 per Common Share during eighteen months following the closing. The Warrants will be subject to an acceleration clause, provided that if at any time which is more than four (4) months and one day following Closing, the volume weighted! average trading price of the common shares of Lucky Strike, as traded on the Exchange, exceeds $0.40 for 20 consecutive trading days, Lucky Strike shall have the right to accelerate the expiry date of the Warrants to a date which is thirty (30) days following the date of the notice.


The net proceeds will be used for continuation of the acquisition of the Changyun coal mine in Guizhou Province of China and for general working capital.
This private placement is subject to finder's fees, which will be paid in accordance with the TSX Venture Exchange policies, and is subject to the approval of the regulatory authorities.
It is not anticipated that any new insiders will be created, nor a change of control will occur as a result of the private placement. The private placement is subject to regulatory approvals, including final approval by the TSX Venture Exchange. All securities issued pursuant to the private placement are subject to a 4-month hold period. After taking into consideration this private placement, the Company will have 12,943,967 common shares issued and outstanding.


About the Changyun Coal Project
Located within the Bijie coal fields, Guizhou Province, the Changyun coal mine covers an area of 2.0954 sq. km with valid mining permits for a 150,000 MTPY coal mining operation, which may be expanded to 300,000 - 500,000 MTPY. Local historical reports (non-compliant with NI43-101) state that coal seams within the mine area are highly altered and would produce a low ash, low to medium sulphur (average 0.23%), and low-volatile (7-8% volatile matter) product, with high gross calorific value that ranges from 6400 to 7200 Kcal/kg. The thermal grade coal is suitable for power plant use. A ready market for production exists with the nearby power plants and other end users within Guizhou province.


In addition to the mine, Changyun has recently been provided with preferential rights to explore and develop a 20 sq. km of highly prospective exploration land surrounding the mine.
About Lucky Strike:
Visit this company: http://www.luckystrikeresources.com/
Lucky Strike Resources Ltd. is a Canada-based exploration stage company. The Company is engaged in the process of exploring and/or developing coal properties in Guizhou province in China. The Company also has property in Yreka, British Columbia, Canada. The Changyun coal project is a former past producing mine and is located some 25 km northeast of Bijie City in Guizhou province, approximately two hours north by air from Hong Kong. The permitted mine covers a total area of 2.0954 sq. km and is surrounded by approximately 20 sq. km of highly prospective exploration area, where available geological data supports the potential presence of significant coal resources of high quality Anthracite coal within the area. The local area has well established infrastructure for the Changyun project to resume production and coal buyers to pick up coal FOB at the mine site.


On behalf of Management
Lucky Strike Resources Ltd.Dodge LiDodge Li, CEO & Director
Visit this company: http://www.luckystrikeresources.com/

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TSX Silver Stocks; United Mining Group (TSX:UMG)(FRANKFURT:UM8) Appoints New CEO and Director

VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ gold and mining stocks blog)  - Sept. 23, 2010) - United Mining Group, Inc. (the "Company") (TSX:UMG)(FRANKFURT:UM8) announces the appointment of Charles Pitcher, formerly President and CEO of Western Canadian Coal as CEO of the Company and Graham (Chip) Clarke, Jr., formerly Senior Vice President and General Counsel with Newmont Mining as Independent Director. Greg Stewart will continue as Chairman, President and will also assume the position of COO. Erik Panke, CFO has resigned as Non-Independent Director to allow for the addition of Graham Clark, Jr. as Independent Director. Mr Panke will continue in his role of CFO and Corporate Secretary.


Charles G. Pitcher, P.E.
Charles Pitcher has over 40 years of experience in senior executive positions in civil construction and mine development with a consistent record of accomplishment. He has extensive experience in the development and operations associated with underground and open-pit mining. He has built successful teams for the mine management and operations in both developed and developing regions of the world. Mr. Pitcher was President and CEO of Western Canadian Coal Corp in the development of the Northeast coal deposits for the Company. He joined the Company in 2002 as Chief Executive Officer to oversee the completion of feasibility studies and then served as Chief Operating Officer. Mr. Pitcher is President of The Mining House Inc, a provider of engineering services related to project development and management. Mr Pitcher also holds Board positions Wildcat Resources and Sila Industries Ltd.
Graham M. (Chip) Clark, LLB
Graham Clark is a senior member of the mining community. He has been involved in the major mining trends of the last 35 years. He has deep expertise in the acquisition, finance and provision of security for mineral properties in the U.S. and in foreign jurisdictions. Mr. Clark has conceived and executed joint operating agreements for hundreds of millions of dollars. He was a key player in the settlement of Superfund clean-up actions and Clean Air violations. He has been involved in the acquisition of publicly and privately held companies for cash and/or stock, issuance of common stock and secured debt. Chip Clark was at Newmont Mining Corporation for 13 years spending 5 years as General Counsel and Senior Vice President. His experience with junior resource companies was as President of Gold Discovery Company for five years. He is presently Of Counsel practising in Phoenix, Arizona. Mr Clark is a graduate of the Yale School of Law.
Greg Stewart, Chairman and Founder, United Mining Group comments, "Charles Pitcher has the senior mining experience which is critical to our company, especially as we move towards production on the Crescent Silver Mine. Chip Clark has the experience and connections in the mining world which will be indispensable to our growth. I am proud to welcome Charles and Chip to the UMG team. I would like to thank Erik Panke for his considerable help as Director. His contribution to obtaining our TSX listing was indispensable."
Charles Pitcher, newly appointed CEO commented, "I wish to thank Greg Stewart and the UMG Board for this appointment. Over the years, Greg Stewart has built a superb mining services company, which has expanded to include the Crescent Silver Mine. I compliment Greg and his team for their superlative work. I look forward to working with Greg and his team to move UMG to the next level of growth."
Stock Options
The Company has issued 840,000 incentive stock options to directors, employees and consultants at a price of $0.81. These options will have a 10 year term and are subject to regulatory approval.
About United Mining Group
United Mining Group is a profitable, vertically integrated mining company with operations in Idaho, USA. The Company offers a full suite of mining services including contract mining to silver miners in the district. The Company owns its own custom welding and fabrication shop allowing it to repair/rebuild equipment for its own use and for outside mining companies.
The Company is currently earning, through development and operations, an 80% interest in the Crescent Silver Mine adjacent to the Sunshine Silver Mine in the Silver Valley. The Crescent Mine has historically produced 25 million ounces of silver at an average grade of 27.3 opt (SRK Consulting 43-101 report, March 1, 2010). UMG currently has an indicated resource of 6.1 million ounces silver (324,000 tons grading 18.7 opt silver) and additional inferred resources of 4.1 million ounces silver (211,000 tons grading 19.5 opt silver).
UMG is committed to building a senior silver-producing mining company based on aggressive exploration and development of the highly-prospective current land position at Crescent and through the acquisition of additional silver interests.
For more information about the Company, please visit: www.unitedmininggroup.com


On behalf of the Board of Directors,
Greg Stewart, Chairman
FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: results of exploration activities and development of mineral properties, fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the inability to obtain financing, currency fluctuations, general market and industry conditions and other risks disclosed in the Company's filings with Canadian Securities Regulators.
Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

The TSX Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

For more information, please contact
United Mining Group, Inc.
Greg Stewart
208.682.9018
gstewart@unitedmininggroup.com
www.unitedmininggroup.com

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Gold Stocks; Northern Tiger (TSX VENTURE:NTR)  Announces Up to 82 g/t Gold from Sleeping Giant Zone Rock Sample - 3Ace Project, Yukon

EDMONTON, ALBERTA--(http://www.investorideas.com/ gold and mining stocks blog)  - Sept. 23, 2010) - Northern Tiger Resources Inc. ("Northern Tiger" or the "Company") (TSX VENTURE:NTR) is pleased to announce that all results from rock and soil samples collected during the 2010 surface exploration program at the 3Ace Project in the southeast Yukon have been received and that the recently announced drill program is progressing well. Highlights from rock sampling of the quartz vein structures in the Sleeping Giant Zone include:

	•		82.27 g/t gold from a rock grab sample
	•		11.34 g/t gold (weighted average) from a 6.0 metre continuous chip sample
	•		7.55 g/t gold (weighted average) from a 8.6 metre continuous chip sample
	•		6.78 g/t gold (weighted average) from a 6.0 metre continuous chip sample

"These latest results reinforce our belief that 3Ace is hosting an extensive gold bearing system with high grade gold mineralization in multiple zones." says Greg Hayes, President of Northern Tiger. "Several visible gold occurrences in the Sleeping Giant Zone and an average gold grade of 4.2 g/t from the entire sample set of 87.6 metres of chip samples are very encouraging initial results for a zone of its apparent size. In addition to these encouraging chip sample results our geologists have outlined a large and robust gold-in-soil anomaly dubbed the Green Zone - further confirming our belief that the system is extensive and has potential for further discovery."
Sleeping Giant Zone
A total of 47 chip samples totalling 86.7 metres were collected from quartz vein material in the Sleeping Giant Zone. Individual chip sample assays ranged from 0.01 g/t gold over 2 metres to 43.67 g/t gold over 1.1 metres (sample previously reported). The Sleeping Giant is hosted in a shear zone and consists of a series of overlapping (en echelon) massive quartz vein segments, with individual segments up to 25 metres in width. The mineralized structure trends north-south and has been traced along strike for 300 metres before disappearing under overburden at both ends of the exposed extent. Northern Tiger plans to drill test the Sleeping Giant zone as soon as we complete our initial exploration holes at the Main Zone.
Green Zone
Results have also been returned from soil and rock sampling of the Green Zone. The 2010 soil sampling program focused on the western half of the zone. A total of 474 soil samples were collected, returning values from trace up to 2.58 g/t gold. A total of 91 samples returned values in excess of 100 ppb gold, and have outlined a large soil anomaly measuring approximately 400 metres by 1,000 metres.
A total of 136 grab and chip rock samples were also collected from the Green Zone, and gold values ranged from trace up to 66.52 g/t (from a grab sample) and 3.36 g/t (from a 1.0 metre chip sample). A total of 24 of the Green Zone rock samples returned values in excess of 1.0 g/t gold.
The Green Zone is a mineralized east-west trending structural corridor extending at least two kilometres in strike length. Disseminated and locally banded arsenopyrite occurs within veins and veinlets and in strongly altered and locally brecciated quartz-pebble conglomerate.
Additional 3Ace Results
In addition to the four named zones at the 3Ace Project, other highly anomalous rock or soil samples have highlighted a number of areas for additional exploration work, including gold values of:

	•		22.89 g/t from a rock grab sample 900 metres south of the Green Zone
	•		15.54 g/t from a rock grab sample 400 metres south of the Green Zone
	•		9.46 g/t from a rock grab sample 800 metres south of the Green Zone
	•		5.89 g/t from a 2.0-metre bedrock chip sample 400 metres southwest of the Green Zone
	•		9.27 g/t from a soil sample 250 metres northwest of the Main Zone
	•		2.45 g/t from a soil sample 250 metres southeast of the North Zone

A minimum 1,000 metre drill program (see news release dated September 21, 2010) is progressing well with 2 holes completed and another in progress. Drill core from the Main Zone is being moved to Whitehorse for sawing, sampling and shipping to an assay lab; results will be reported when available.
Sample location maps and a table of the Sleeping Giant continuous chip samples are available at www.northern-tiger.com.
This News Release has been reviewed and approved by Carl Schulze, B.Sc., P.Geol., the Qualified Person as defined by NI 43-101. All rock and drill core samples were analyzed by Inspectorate America Corporation of Richmond, British Columbia using 50 gram fire assay and 50-element, 4-acid ICP analysis. Soil and silt samples were also analyzed by Inspectorate, using 30-gram fire assay analysis. When visible gold is noted in drill core samples or regular fire assay values appear abnormally high, the pulp and screen metallic assay method is used to determine the total gold content and gold contents of different size fractions. This is considered industry best practice when dealing with coarse gold mineralization where a nugget effect is suspected. This determination is accepted as the most representative value and is used in the assay database.
Northern Tiger Resources Inc. is a Canadian-based resource exploration company focused on gold and copper exploration in the Yukon. Through its exploration alliance with Capstone Mining Corp.'s wholly owned subsidiary, Minto Explorations Ltd., Northern Tiger benefits from a wide range of experience, knowledge and capabilities from early exploration to mine production.
This news release may contain forward looking statements, being statements which are not historical facts, including, without limitation, statements regarding potential mineralization, exploration results, resource or reserve estimates, anticipated production or results, sales, revenues, costs, "best-efforts" financings or discussions of future plans and objectives. There can be no assurance that such statements will prove accurate. Such statements are necessarily based upon a number of estimates and assumptions that are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. Important factors that could cause actual results to differ materially from the Company's expectations are in Company documents filed from time to time with the TSX Venture Exchange and provincial securities regulators, most of which are available at www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information, please contact
Northern Tiger Resources Inc.
Greg Hayes
President and CEO
info@northern-tiger.com
www.northern-tiger.com

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Copper/Gold Stocks ; Terrane (TSX VENTURE:TRX) Shareholders Approve Transaction With Thompson Creek

VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ gold and mining stocks blog )  - Sept. 23, 2010 - Robert Pease, President and CEO of Terrane Metals Corp. ("Terrane" or the "Company") (TSX VENTURE:TRX), is pleased to announce that at a special meeting held today, Terrane shareholders approved the previously announced acquisition of Terrane by Thompson Creek Metals Company Inc. ("Thompson Creek") (NYSE:TC and TSX:TCM) pursuant to a plan of arrangement (the "Arrangement"). The special resolution was approved by 99% of the votes cast by securityholders entitled to vote on the resolution. Under the terms of the Arrangement, Terrane shareholders will receive C$0.90 in cash and 0.052 of a Thompson Creek share per Terrane share.


Completion of the Arrangement is subject to customary regulatory consents and other approvals and final approval of the Supreme Court of British Columbia. A court hearing is scheduled for September 24, 2010, with the completion of the Arrangement expected to occur in early October 2010.
Further details regarding the Arrangement are set out in Terrane's Notice of Special Meeting and Management Information Circular dated August 23, 2010, which is available at www.sedar.com.


ABOUT TERRANE METALS CORP.
Terrane Metals Corp. is an exploration and mine development company focused on the development of the Mt. Milligan copper-gold and Berg copper-molybdenum-silver projects in British Columbia, Canada. Goldcorp Inc. (GG: NYSE; G: TSX) owns a 52.4% equity interest in Terrane on a fully diluted basis.
TERRANE METALS CORP.
Robert Pease, P.Geo, FGAC, President and CEO
Cautionary Note Regarding Forward Looking Statements
Except for the statements of historical fact contained herein, the information presented in this News Release constitutes "forward-looking statements" as such term is used in applicable Canadian laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. In particular, statements concerning Mineral Resource and Mineral Reserve estimates should be viewed as forward-looking statements to the extent that they involve estimates of the mineralization that will be encountered if the property is developed. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans, "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and should be viewed as "forward-looking statements". Such forward looking statements, including but not limited to, those with respect to the price of metals, the ability of the closing conditions to the closing of the Arrangement to be satisfied, the timing of the closing of the Arrangement, the amount of estimated mineralization and of contained metals and the timing of and possible outcome of pending economic evaluations and other factors and events described in this News Release, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, among others, the actual results of exploration activities; variations in the underlying assumptions associated with the estimation or realization of Mineral Resources and Mineral Reserves, the conclusions of economic evaluations and possible variations in ore grade or recovery rates; costs and timing of the development of new deposits; availability of capital to fund programs and the resulting dilution caused by the raising of capital through the sale of shares; accidents, labour disputes and other risks of the mining industry including without limitation those associated with the environment, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, title disputes or claims limitations on insurance coverage. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this News Release and in any document referred to in this News Release.
Forward looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable law.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

For more information, please contact
Terrane Metals Corp.
Darin Labrenz
(604) 681 9930
www.terranemetals.com

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Gold Canyon (TSX VENTURE:GCU)(PINK SHEETS:GDCRF) Completes $4,000,000 Private Placement

VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ gold and mining stocks blog )  - Sept. 23, 2010) - Gold Canyon Resources Inc. (TSX VENTURE:GCU)(PINK SHEETS:GDCRF) ("Gold Canyon" or "the Company") announces that it has completed its private placement offering of 8,888,889 units (the "Units") at a subscription price of (Cdn)$0.45 per Unit for gross proceeds of (Cdn)$4,000,000. Each Unit is comprised of one common share in the capital of the Company and one-half of one non-transferable share purchase warrant of the Company, each whole warrant exercisable at any time up to 4:30 p.m. (Vancouver time) on September 23, 2012 for one common share at a price of $0.65 per share.
In connection with the offering, the Company has paid a finder fees in cash of $139,125 (5% of the proceeds) and 371,000 (6%) non-transferable share purchase warrants exercisable at a price of $0.45 at any time up to 4:30 p.m. (Vancouver time) on September 23, 2012.
Any securities to be issued will be subject to a hold period of four months and one day, expiring on January 24, 2011 in accordance with the rules and policies of the TSX Venture Exchange and applicable Canadian securities laws and such other further restrictions as may apply under foreign securities laws.
The proceeds of this offering will be used for additional work on Gold Canyon's Springpole Gold Project in the Red Lake Mining District of Ontario, Canada and for general corporate purposes.
About Gold Canyon Resources Inc.:
Gold Canyon is engaged in the acquisition and exploration of mineral and precious metals properties. The Company controls a 100% interest in the Springpole Gold - Horseshoe Island Gold, Platinum, Palladium Project and Favourable Lake Poly-metallic property currently under option to Shoreham Resources Inc. pursuant to an option and joint venture agreement entered into in December 2005 - all in the Red Lake Mining District of Ontario, Canada.
Through its wholly owned U.S. subsidiary, Gold Canyon Resources USA Inc., the Company controls a 100% interest in the Cordero Gallium Project situated in Humboldt County, Nevada, U.S.A.
Gold Canyon entered into a Joint Exploration Agreement with the Japan Oil, Gas and Metals National Corporation (JOGMEC) in January 2009.
Additional information can be found on the Company's website: www.goldcanyon.ca
Akiko Levinson, President & Director
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities of the Company have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Certain statements contained in this news release using the terms "may", "expects to", "project", "estimate", "plans", and other terms denoting future possibilities, are forward-looking statements in respect to various issues including upcoming events based upon current expectations which involve risks and uncertainties that could cause actual outcomes and results to differ materially. The future conduct of the Company's business and the feasibility of its mineral exploration properties are dependent upon a number of factors and there can be no assurance that the Company will be able to conduct its operations as contemplated and the accuracy of these statements cannot be guaranteed as they are subject to a variety of risks that are beyond our ability to predict or control and which may cause actual results to differ materially from the projections or estimates contained herein. The risks include, but are not limited to, the risks described in the above press release; those risks set out in the company's disclosure documents and its annual, quarterly and current reports; the fact that exploration activities seldom result in the discovery of a commercially viable mineral resource and are also significant amounts of capital to undertake and the other risks associated with start-up mineral exploration operations with insufficient liquidity, and no historical profitability. The Company disclaims any obligation to revise any forward looking statements as a result of information received after the fact or regarding future events.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

For more information, please contact
Gold Canyon Resources Inc.
(604) 682-3234 or Toll Free: 1 (888) 242-3234
(604) 682-0537 (FAX)
info@goldcanyon.ca
or
Gold Canyon Resources Inc.
Leo Karabelas
Investor Relations
(416) 543-3120
leo@frontlineir.com
www.goldcanyon.ca

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TSX Mining News; Dorato (TSX. V:DRI) Receives Highly Positive Lucero Results From Cordillera del Condor, NW Peru

Surface Trenching Intercepts 41 Metres at 3.1g/t Gold and 0.2% Copper

VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ gold and mining stocks blog )  - Sept. 23, 2010 - Dorato Resources Inc. ("Dorato" or the "Company") (TSX VENTURE:DRI)(OTCQX:DRIFF)(FRANKFURT:DO5) is pleased to announce that it has received highly anomalous rock sample results from Minera Afrodita's exploration program at the Lucero target, Cordillera del Condor project, Peru. The Lucero discovery zone currently forms a gold and copper mineralized zone that extends for over one kilometre. Significant trench results including 41 metres @ 3.08 g/t gold suggest that the discovery zone has significant bulk tonnage gold potential. Dorato has a right to acquire 100% of Minera Afrodita.
Trench 755201, located within the Lucero gold discovery zone, intercepted 41.4 metres grading 3.1 g/t gold and 0.20% copper with gold grades increasing at depth:. Two pits were excavated to investigate the depth extent of mineralization; grade in Pit V-2 increased with depth from approximately 1.0 g/t gold at surface to just over 6.0 g/t gold at 2.7 metres depth. Rock assay results (from 968 rock samples) range from below detection to 11.17 g/t gold and 2.31% copper.
"We are very excited with these highly positive gold and copper results; the disseminated nature of the mineralization has the potential to form a large, bulk-tonnage gold-copper target at Lucero," stated Keith Henderson, Dorato's President & CEO, "We are beginning to see consistent grade over a very significant area and test pits suggest that the grade could continue or increase with depth."
Trench Sampling Details
Trench 755201 is located in the south-eastern margin of the Lucero discovery zone (Fig. 1). It was excavated in order to evaluate a 9.7 g/t gold-in-soil sample (news release NR10-15). Preserved quartz and hematite veins in Trench 755201 indicate that the exposed rock represents outcrop and has not been reworked by near-surface weathering processes. Composite rock chip samples were collected over intervals ranging between 0.1 to 2.0 metres in length. Highlights from Trench 755201 are shown in Table 1. Gold intercepts are illustrated in Figure 2.
Surface rock sampling and trenching have defined a 1,100-metre by 750-metre northeast-trending mineralized corridor (Fig. 1). Gold and copper mineralization occurs in a hydrothermally altered package of sedimentary and intrusive rocks. Significant gold-copper mineralization is also found in massive magnetite replacement and breccia bodies.
Previous rock sampling results included 10 adjacent rock samples collected over 30 metres of continuous surface sampling that contained grades of up to 11.17 g/t gold and averaged 2.85 g/t gold and 0.37% copper (news release NR09-17). This sampling was completed 350 metres north of Trench 755201 and further illustrates the continuous nature of grades being encountered at surface.
Depth Extent of Mineralization
The depth extent of mineralization will be drill-tested, however excavation of near-surface pits is highly instructive in lieu of such data. Two vertical pits were excavated in Trench 755201 (Fig. 2) to test the depth extent of mineralization. A near-surface vertical profile of gold distribution was obtained by systematically sampling each pit at 10-centimetre intervals. Pit V-1 contains 1.1 metres grading 1.27 g/t gold and 0.51% copper. Pit V-2 contains 2.7 metres grading 3.25 g/t gold and 0.14% copper. Both pits produced increasing intensities of gold mineralization with depth; Grade in pit V-2 increased with depth from approximately 1.0 g/t gold at surface to just over 6.0 g/t gold at 2.7 metres depth.

Table 1. Gold and Copper highlights from Lucero Trench 755201

	From	To	Length	Au	Cu
	m	m	m	g/t	%
	0	44.3	44.3	2.86	0.22
incl.	3.3	44.3	41	3.08	0.20
incl.	10.8	18.3	7.5	3.99	0.13
incl.	29.3	35.3	6	3.97	0.09

Ongoing Work
Results are expected soon from extensive soil sampling grids surrounding the core Lucero target. In addition, as part of the airborne geophysical surveys ongoing in the Cordillera, the Lucero target area will be flown at a 50-metre line spacings – this increase in geophysical data density will provide better definition on the size of the coincident EM and magnetic anomalies.
Lucero is a 100% grass-roots discovery and was not previously exposed by any informal mining activity. The Lucero target was originally defined by 200-metre line-spaced magnetic and electromagnetic (EM) geophysical data combined with regional geology and stream sediment geochemistry. The Lucero discovery now forms a gold and copper mineralized zone that extends for over one kilometre. Significant trench results, including 41 metres grading 3.08 g/t gold, suggest that the discovery zone has significant bulk tonnage gold potential.
To view the maps accompanying this press release please visit the following link: http://media3.marketwire.com/docs/doratofigs1-3.pdf
Cordillera Del Condor Background
The Cordillera Del Condor has been one of the most important gold-bearing areas in Ecuador and Peru since pre-Incan times. On the Ecuador side of the border, historical high-grade, small scale gold production is reported to have exceeded 100,000 oz per year.
Modern exploration on the Ecuadorian side of the border has resulted in the discovery of multiple, significant and world-class gold and base metal-bearing districts, such as Kinross Gold Corp's Fruta del Norte Gold deposit with an inferred resource of 13.6 million contained ounces of gold averaging 7.23 g/t gold), the Mirador Copper-Gold porphyry deposit (recently sold by Corriente Resources Inc.) with measured & indicated resources of 438 million tonnes at 0.61% copper, 0.19 g/t gold plus inferred resources 235 million tonnes at 0.52% copper, 0.17 g/t gold, and the Mirador Norte Copper-Gold porphyry deposit (indicated 171 million tonnes at 0.51% copper, 0.09 g/t gold; inferred 46 million tonnes at 0.51% copper, 0.07 g/t gold), and Dynasty Metals & Mining Inc's Jerusalem Gold deposit in the Chinapintza district with measured & indicated resources of 0.58 million contained ounces gold at 12.4 g/t gold plus an additional 0.71 million ounces inferred contained ounces averaging 11.5 g/t gold). The technical information with respect to the above deposits was obtained through the respective companies' public disclosure documents available on SEDAR.
Qualified Person
EurGeol Keith J. Henderson, P.Geo. Dorato's President and CEO and a qualified person as defined by National Instrument 43-101, has reviewed the scientific and technical information that forms the basis for this news release. Mr. Henderson is not independent of the Company as he is an officer and a shareholder.
The geochemical results were reviewed by Tansy O'Connor-Parsons, Senior Geochemist. Minera Afrodita on-site personnel rigorously collect and track samples which are then security sealed and shipped to ACME Laboratories, Lima, Peru for assay. ACME's quality system complies with the requirements for the international standards ISO 9001:2000 and ISO 17025:1999. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material and replicate samples. Quality control is further assured by the use of international and in-house standards. Blind certified reference material is inserted at regular intervals into the sample sequence by field personnel in order to independently assess analytical accuracy. In addition, representative blind duplicate samples are routinely forwarded to ACME and an ISO-compliant third party laboratory for additional quality control.
About Dorato Resources Inc.
Dorato Resources Inc. is mineral exploration company focused on the highly prospective Cordillera del Condor Gold District in northern Peru and adjacent to the border with Ecuador – one of the most important gold-bearing districts in the region since pre-Incan times. Dorato, through a series of option agreements has the right to wholly acquire an extensive land package of approximately 1,050-square-kilometres – providing the Company with the largest land position in the Cordillera del Condor and a highly strategic position in this emergent gold district. Dorato is well funded and possesses experienced management with a proven track record.
On behalf of the board of directors of DORATO RESOURCES INC.
Keith J. Henderson, President and CEO
Cautionary Statement
This press release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward looking information" within the meaning of the British Columbia Securities Act and the Alberta Securities Act. Generally, the words "expect", "intend", "estimate", "will" and similar expressions identify forward-looking information. By their very nature, forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results, performance or achievements, or that of our industry, to differ materially from those expressed or implied in any of our forward looking information. Statements in this press release regarding Dorato's business or proposed business, which are not historical facts are forward-looking information that involve risks and uncertainties, such as estimates and statements that describe Dorato's future plans, objectives or goals, including words to the effect that Dorato or management expects a stated condition or result to occur. Since forward-looking statements address events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. All of the Company's Canadian public disclosure filings may be accessed via http://www.sedar.com/ and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties. The foregoing commentary is based on the beliefs, expectations and opinions of management on the date the statements are made. The Company disclaims any intention or obligation to update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information, please contact
Dorato Resources Inc.
Steve Stakiw
Manager - Corporate Communications
604-638-5817
or
Dorato Resources Inc.
Michael Pound
Manager - Investor Relations
604-638-5817
604-408-7499 (FAX)
info@doratoresources.com
http://www.doratoresources.com/

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Mining Stocks; Salazar Resources (TSX.V:SRL)(FRANKFURT:CCG) Appoints Mr. James Mayor Senior Geological Consultant

VANCOUVER, BRITISH COLUMBIA--(http://www.investorideas.com/ gold and mining stocks blog ) - Sept. 23, 2010)- Salazar Resources Limited (TSX VENTURE:SRL)(FRANKFURT:CCG) - Mr. Fredy Salazar is pleased to announce that Mr. James Mayor, who has been on our Advisory Board since 2007, has accepted appointment as Senior Geological Consultant and special advisor to the President.


Mr. James Mayor is a Graduate of the Royal School of Mines, University of London, England, and has over 40 years experience in senior positions in the mining industry, 37 years of which were spent with Newmont. Mr. Mayor's technical experience includes mine geology, project development and generative exploration in VMS, Orogenic Gold, Porphyry Copper and Epithermal Systems. Mr. Mayor's extensive experience with Newmont includes the position of Exploration Manager for Ecuador from 1996 - 2001 and Exploration Manager with the team that discovered the Herradura Mine, Sonora Mexico, from 1986 - 1992.
Said Mr. Mayor, "I have been following the Salazar Resources story with much interest and anticipation. Recently at the request of Mr. Salazar I visited the Company's Curipamba Project in Ecuador. This project is transitioning from exploration through to development and I was asked to provide some comments and insights into the ongoing work programs. The technical teams working on the Company's projects are very professional and methodical in their work and I was very much impressed with the quality of work that is being done. The Curipamba Project is one of the better VMS opportunities I have seen in recent years and while there is much work to be done, this is a real project and the opportunity is substantial. I am extremely pleased to be working more closely with Salazar Resources on such a high caliber property."
Said Mr. Salazar, "We, at Salazar Resources, are very pleased that Mr. Mayor has agreed to expand his services to the Company and we appreciate his assistance and guidance."
ON BEHALF OF THE BOARD OF SALAZAR RESOURCES LIMITED
Fredy Salazar, President & CEO
Salazar Resources Limited
Salazar Resources Ltd. is a publicly-listed (TSX VENTURE:SRL) mineral resource company engaged in the exploration and development of new highly prospective areas of Ecuador. Led by a senior Ecuadorian management team and most notably by its namesake Fredy Salazar, this team has been instrumental in other major discoveries throughout Ecuador, including Aurelian's Fruta del Norte discovery, IAMGold's Quimsacocha Deposit, Mozo Deposit, Ex Newmont's Cangrejos Project and International Minerals Rio Blanco and Gaby Deposit. Being an Ecuadorian based company gives us a strategic advantage enabling us to complete exploration at a rapid pace, with over sixty personnel on the ground, including twelve geologists. With an excellent property portfolio (4 projects - 131,300 hectares), good geopolitical positioning and a number of strategic corporate and financial partnerships, Salazar has positioned itself to be a strategic player in Ecuador.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information, please contact
Salazar Resources Limited
Fredy Salazar
President & CEO
593.22278975
fsalazar@salazarresources.com

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Metanor Resources (TSX VENTURE:MTO): Drilling Campaign of 25,000 Meters to Continue to Grow the Resource at Barry

VAL-D'OR, QUEBEC--(http://www.investorideas.com/ gold and mining stocks blog )  - Sept. 23, 2010) - Metanor Resources Inc. ("Metanor") (TSX VENTURE:MTO) and its exploration team are pleased to announce a drilling campaign of 25,000 meters on the Barry property.

The purpose of this drill campaign is to increase the known resource considerably. Operating and extracting ore from the Barry pit and the past drill campaign have enabled Metanor to have a very good comprehension of the geological structure and the continuity of the gold bearing zones. Moreover, strong intensity anomalies other than those of the Barry pit, where resources of several million tonnes were recently announced (Press Release dated September 21,2010), were discovered east and west of the pit by an induced polarization (IP) survey executed by Abitibi Geophysique of Val d'Or in 2009.(Press Release dated February 24, 2010)
New Resources calculated on approximately only 3% of the entire Barry property:

Indicated Resources		2007**	2010	% Increase
	Tonnes	385,000	7,701,000	1,900%
	Ounces Au	52,300 (4.23g/t)	309,500 (1.25g/t)	491%
Inferred Resources
	Tonnes	966,000	10,411,000	977%
	Ounces Au	126,600 (4.07g/t)	471,950 (1.41g/t)	272%
** announced by Press Release May 8, 2007

These indices demonstrate the potential to rapidly increase the resources at Barry.
The present gold corridor (pit) is nearly 1 km long with a width of approximately 140 m and up to depths ranging from 75m to 125m. The Barry pit is still open in all directions.
This drilling campaign will target these strong anomalies to the East and West with the goal of extending the gold zone more than 5 km. Further, Metanor would drill around the present 1 km corridor (pit) and also below 125 m.
Metanor and all its team have great confidence in the future of the Barry property and its potential in becoming a major deposit in the Quebec mining industry.
Mr. André Tremblay, P Eng. is the qualified person pursuant to National Instrument 43-101 and supervised the technical information presented in the news release.
Shares issued: 133 595 947

The TSX Venture Exchange neither their regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) does not accept responsibility for the adequacy or accuracy of this release.

For more information, please contact
Metanor Resources Inc.
Ronald Perry
Vice-President
514-262-8286
rperry@metanor.ca

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Coal Stocks; Forbes & Manhattan Coal Corp. Announces Update on Agnew Lake Properties

TORONTO, ONTARIO--(http://www.investorideas.com/ gold and mining stocks blog )  - Sept. 23, 2010 - Forbes & Manhattan Coal Corp. (formerly Nyah Resources Corp.) (TSX VENTURE:NRU) (the "Corporation") announces an update with respect to its previously held Agnew Lake properties located in the Hyman and Porter Townships in Sudbury, Ontario.


The Agnew Lake project consists of two separate exploration properties comprised of the Agnew Lake North Uranium property (the "Agnew Lake North Uranium Property"), which is the most advanced of the two claim blocks, and the Agnew Lake South property (the "Agnew Lake South Property"). The Agnew Lake North Uranium Property consists of seven unpatented mining claims (covering 1,032 ha, or 2,550 acres) located approximately 75 kilometres by road west of Sudbury, Ontario, in Hyman and Porter Townships. These claims encompass the past producing Agnew Lake Uranium Mine which was operated by Kerr Addison Mines Ltd. between 1977 and early 1983 producing approximately 1.9 million pounds of uranium. Three of the claims (850 hectares) are subject to a Federal license under the Nuclear Safety and Control Act. The Agnew Lake South Property consists of four unpatented mining claims (covering 692 hectares, or 1710 acres) located in Hyman Township of the Elliot Lake-Blind River uranium district, Ontario.
In September 2008, the Corporation announced that it had completed Phase III of the 2008 drill program consisting of 11 holes totaling 3,500 metres of NQ diamond drilling on the Agnew Lake North Uranium Property (See Press Release dated September 18, 2008). At this time, the Corporation also completed an aggregate of 62.3 line kilometres of ground geophysics at the Agnew Lake North Uranium Property and the Agnew Lake South Property. With respect to the Agnew Lake South Property, the Company completed magnetic, VLF-EM and IP surveys. Preliminary data with respect to these surveys indicate an antiformal structure with conglomerate units cropping out on the north limb and coincident high radioactivity that suggests conditions for a deposit similar to that found to the north. A follow up radiometric survey confirms the presence of uranium bearing conglomerates close to surface.
As set out in the Corporation's Management Discuss and Analysis for the financial year ended December 31, 2008 (the "MD&A"), during the year ended 2008, total exploration completed by the Corporation included 9,380 metres of drilling from 31 holes on the Agnew Lake North Uranium Property and exploration expenditures incurred on the properties are set out below.

EXPLORATION EXPENDITURES 2008
		Agnew Lake South Uranium Property $		Agnew Lake North Uranium Property $		Total $
Acquisition Costs
Balance, beginning of year		-		3,750,091		3,750,091
Acquisition and Property Costs		25,325		863		73,719
Property write-off		(25,325	)	(2,754,204	)	(2,827,060	)
Balance, end of year		-		996,750		996,750
Exploration Expenditures
Balance, beginning of year		-		946,192		946,192
	Consulting and labour	76,050		134,539		213,339
	Assaying	287		27,637		27,924
	Drilling	-		653,687		653,687
	Surveys	46,586		65,936		112,522
	Travel and truck rental	5,632		24,774		31,118
	Field expenses and office support	4,692		20,091		25,498
	Amortization	-		2,102		2,102
		133,247		1,874,958		2,012,382
	Property write-off	(133,247	)	(1,874,958	)	(2,012,382	)
	Balance, end of year	-		-		-
Total Deferred costs, end of year		-		996,750		996,750

Upon further review of the results from the Phase III drill program on the Agnew Lake North Uranium Property and the geophysics of both properties, as set out in the MD&A, taking into consideration the global collapse of the equity markets and the corresponding falling price of uranium at such time, the Corporation determined such results did not warrant further exploration work to be conducted with respect to the Agnew Lake North Uranium Property and decided not to proceed with any recommended work on the Agnew Lake South Property.
In February, 2009 the Corporation announced that it had entered into a letter agreement with Russo-Forest Corporation ("Russo-Forest") (See Press Release dated February 2, 2009) to acquire all of the issued and outstanding common shares of Russo-Forest (the "Change of Business Transaction"). In accordance with the proposed terms of the Change of Business Transaction, the Corporation entered into an agreement with Pitchblack Resources Ltd. ("Pitchblack") (formerly Cash Minerals Ltd.) whereby Pitchblack agreed to acquire the Agnew Lake properties in consideration for an aggregate of 15,000,000 common shares of Pitchblack and 7,500,000 share purchase warrants of Pitchblack. On December 18, 2009, the Corporation announced that it had decided not to proceed with the Change of Business Transaction which included the proposed sale of the Agnew Lake properties to Pitchblack.
On July 7, 2010 the Corporation announced that it had entered into a letter agreement with Forbes & Manhattan (Coal) Inc. ("Forbes Coal") to acquire all of the issued and outstanding common shares of Forbes Coal. On September 20, 2010 the Corporation announced that it had completed the business combination with Forbes Coal (the "Business Combination"). In connection with the Business Combination, the Corporation also announced that it had completed the sale of its Agnew Lake properties to Valencia Ventures Inc. ("Valencia") in consideration of a cash payment of $500,000 and two additional payments valued at $500,000 in cash or common shares of Valencia, at the election of Valencia. The sale of the Agnew Lake properties constitutes a non-arm's length transaction for the purposes of the TSX Venture Exchange as Nyah and Valencia have common directors and officers.
Since completion of the Phase III drill program in 2008, as set out in the MD&A, the Corporation has not conducted any additional material exploration work on the Agnew Lake properties. During the month of September 2010, the Corporation performed additional prospecting, mapping and radiation surveys on the Agnew Lake South Property. The cost of such work was approximately $15,000 and was conducted in order to maintain the property in good standing. Samples have been sent to ALS Chemex and results are expected within a month.
David Gower, P. Geo., is a Qualified Person under NI 43-101 and has reviewed and approved the technical and scientific information in this press release.
About the Corporation 
The Corporation holds a 53.5% interest in Slater Coal (Pty) Ltd., a South African Corporation ("Slater Coal") which has a 70% interest in Zinoju Coal (Pty) Ltd. ("Zinoju"). Zinoju holds a 100% interest in certain coal mines in South Africa (the "Slater Coal Properties"). The Slater Coal Properties comprise the operating Magdelena bituminous mine (the "Magdelena Property") and the Aviemore anthracite mine (the "Aviemore Property") and have a substantial resource base of bituminous and anthracite coal. The Slater Coal Properties are located in the Klipriver coalfield, near Dundee, in the KwaZulu Natal Province of South Africa and can be accessed via the N3, N11 Ladysmith and R102 Dundee tarred national highways that run between Johannesburg and Durban, South Africa.
Cautionary Note Regarding Forward-Looking Information This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the future financial or operating performance of the Corporation and its projects, statements regarding the prospects for the business of the Corporation, statements regarding synergies and financial impact of the proposed transaction, the terms and conditions of the transaction, the benefits of the proposed transaction, the costs of and capital for harvesting projects, harvesting expenditures, timing of future acquisitions of additional properties and applicable licences, requirements for additional capital, government regulation of the mineral exploration industry, environmental risks, acquisition of mining licences, title disputes or claims, limitations of insurance coverage and the timing and possible outcome of pending litigation and regulatory matters. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Corporation to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, foreign operations, political and social uncertainties; a history of operating losses; delay or failure to receive board or regulatory approvals; timing and availability of external financing on acceptable terms; not realizing on the potential benefits of the proposed transaction; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of mineral products; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and, delays in obtaining governmental approvals or required financing or in the completion of activities. Although the Corporation has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Corporation does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

For more information, please contact
Forbes & Manhattan Coal Corp.
Stephan Theron
President and Chief Executive Officer
(416) 861-5912
stheron@forbescoal.com

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