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| | Thu Sep 14, 2006
Blackstone And Canadian Arrow Finalize Agreement
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| | Blackstone Ventures Inc. (BLV -- TSXV) is pleased to announce that further to its news release of May 24, 2006, Canadian Arrow Mines Limited ("Arrow") has signed an agreement with Blackstone Ventures Inc. ("Blackstone") whereby Blackstone has granted an option to Arrow to acquire a 100% interest in 74 patented claims on the Kenbridge Nickel Deposit (the "Kenbridge Property"), including the acquisition of Blackstone's 99% interest in Kenbridge Nickel Mines Limited ("Kenbridge"). The principal asset of Kenbridge is 24 of the patented claims comprising the Kenbridge Property, which is located within the Kenora mining division in the Atikwa Lake and Fisher Lake areas.
Consideration payable for the Kenbridge Property includes the issuance to Blackstone of an aggregate of 2,500,000 shares of Arrow over four years, work commitments totaling $9,000,000 over five years, and a cash back-end payment to Blackstone of $1,000,000.
For further information on Blackstone, please contact Donald McInnes, President or Robert Carriere, Manager, Investor Relations, at 604-687-3929 or visit the Blackstone website at http://www.blv.ca.
On behalf of Blackstone Ventures Inc.
"Donald McInnes"
Donald A. McInnes, President
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. |
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