Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1) is announced that the Company and one of its prospecting partners have signed an agreement with Upper Canyon Minerals Corp. (TSXv: UCM) whereby Upper Canyon can earn a 100% interest in two claim groups, the Sul and Sud, prospective for base and precious metals located 15 kilometres northeast of Creston, British Columbia.
1. ZIMTU CAPITAL CORP. ANNOUNCES PROPERTY TRANSACTION
December 8, 2010 - Zimtu Capital Corp. (TSXv: ZC) (FSE: ZCT1) (the “Company” or
“Zimtu”) is pleased to announce that the Company and one of its prospecting partners
have signed an agreement with Upper Canyon Minerals Corp. (TSXv: UCM) (“Upper
Canyon”) whereby Upper Canyon can earn a 100% interest in two claim groups, the Sul
and Sud, prospective for base and precious metals located 15 kilometres northeast of
Creston, British Columbia.
For its participation in the transaction, Zimtu will receive staged cash and share
payments totaling $10,000 and 2,000,000 common shares over a 24 month period.
Zimtu’s partner, 877384 Alberta Ltd. will receive cash and share consideration equal to
that of Zimtu. The vendors will retain a 2% Net Smelter Royalty (“NSR”) on the
properties. The transaction is subject to acceptance by the Toronto Venture Exchange
(“TSXv”). A finders fee in accordance with TSXv policy will be payable for the
transaction.
The two properties encompass 18 claims totaling 9,456 hectares and are adjacent to
the Iron Range Project currently being explored by Providence Capital Corp. (TSXv: PV)
and Eagle Plains Resources Ltd. (TSXv: EPL). The projects were acquired by the
Company and its partner by staking and were acquired for project generation. Zimtu will
continue to evaluate and acquire prospective resource properties to make available for
sale or joint venture. As part of the Company’s business, Zimtu provides mineral
property advisory services and helps to connect companies with mineral properties of
interest.
For additional information on our mineral property advisory services and available
opportunities, contact Ryan Fletcher, Corporate Development and Director at
604.681.1568 or via email at rfletcher@zimtu.com.
About Zimtu Capital Corp.
Zimtu Capital Corp. invests in, creates and grows natural resource companies thereby
providing a way for shareholders to indirectly participate and profit in the public
company building process. The Company also provides mineral property advisory
services helping to connect companies to properties of interest.
2. Zimtu Capital trades on the TSX Venture Exchange under the symbol “ZC” and the
Frankfurt Stock Exchange under the symbol “ZCT1.” For more information please visit
the corporate website at http://www.zimtu.com or contact:
Kevin Bottomley
Shareholder Services
Toll Free: 1.877.377.6222
Phone: 604.681.1568
Email: kevin@zimtu.com
On Behalf of the Board of Directors
ZIMTU CAPITAL CORP.
“David Hodge”
David Hodge
President & Director
Phone: 604.681.1568
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.
Statements in this document which are not purely historical are forward-looking statements, including any
statements regarding beliefs, plans, expectations or intentions regarding the future.
Forward-looking statements in this news release include that Zimtu will receive staged cash and share
payments totaling $10,000 and 2,000,000 common shares over a 24 month period on acceptance by the
TSX Venture Exchange for the Sud and Sul Properties; that 877384 Alberta Ltd. will receive cash and
share consideration equal to that of Zimtu; that the vendors will retain a 2% NSR on the properties; that
Zimtu will continue to evaluate and acquire prospective resource properties to make available for sale or
joint venture; and that Zimtu provides mineral property advisory services and helps to connect companies
with mineral properties of interest.
It is important to note that actual outcomes and the Company’s actual results could differ materially from
those in such forward-looking statements. Risks and uncertainties include, but are not limited to,
economic, competitive, governmental, environmental and technological factors that may affect the
Company's operations, markets, products and prices. Readers should refer to the risk disclosures
outlined in the Company’s Management Discussion and Analysis of its audited financial statements filed
with the British Columbia Securities Commission.