Stellar is granted an exploration authorization for the Namarana area covering 132 km(2) in Mali, West Africa
MONTREAL, QUEBEC–(Marketwire – Aug. 11, 2011) – Stellar Pacific Ventures Inc. (TSX VENTURE:SPX) (“Stellar” or the “Company”) is proud to announce that it was awarded by the Ministry of Mines of the Republic of Mali, an EXPLORATION AUTORIZATION for the Namarana area which covers over 132 km2. This mineral title was delivered July 22, 2011 to STELLAR PACIFIC MALI SARL, the Company’s wholly owned (100%) subsidiary in Mali.
The Company wishes to add that the previously announced option agreement with Tali Mines SARL (announced 2011-01-25) relating to the same property has been cancelled by mutual consent of the parties. Tali Mines SARL agreed to renounce to the Namarana Permit so that Stellar Pacific Mali SARL, could apply immediately for the «Exploration Authorization». The Exploration Authorization is the temporary title granted while the request for a «Permis d’Exploration» is being processed by the authorities. The Exploration Authorization is valid for 3 months and is renewable once for another 3 months. The Company will soon announce the start-up of a reconnaissance program in order to target areas of interest throughout the perimeter of the property.
The Namarana area is located in the northeast extension of the Balandougou mineralized structures in Guinea where Stellar already holds important mineral titles. The Namarana Permit together with the Balandougou Permits cover an extensive 738 Km2.
About Stellar Pacific Ventures
Stellar Pacific Ventures (TSX VENTURE:SPX) is a Canadian-based mining exploration company whose primary mission is to target, explore and develop gold deposits in West Africa. Stellar is dedicated to creating growth by discovering and mining the earth’s resources in an efficient and environmentally responsible manner.
The technical content of this press release have been reviewed and approved by Mr. Maurice Giroux, a qualified person as defined in NI 43-101 regulation.
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