Vancouver, BC: Canadian Mining Company Inc. (TSX.V: CNG), reports it has received notice of cancellation September 25, 2013 of the Option and Joint Venture Agreements with Ironwood Gold Corp. (Ironwood) on the Companys San Bernardo and Arizona Bullard Pass Gold Projects as released on February 5, 2013 and May 30, 2013. Ironwood has been unable to meet its obligations laid out in the Agreements due to the difficult conditions facing junior mining companies in funding exploration.
The 43-101 qualified Bullard Pass Gold Project represents a property of merit for Canadian Mining and management will continue to seek out well-funded joint venture partners to advance the Project.
The Bullard Pass property is in the vicinity of the Harcuvar and Harquahala Mountains in Arizona. In 1992, the Arizona Geological Survey Open-File Report 92-1 stated, the mineralogic and structural similarities of the Bullard Pass and Copperstone districts suggests that potential exists for a major gold deposit in the area of the Bullard district.
Canadian Mining will continue to maintain its 100% interest in the Bullard Project while it focuses on the development of its British Columbia Sun Group Zeolite Project which is garnering International attention.
On behalf of the Board
Ray Paquette CEO
For further information contact Mr. Ray Paquette 604.684.3301
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.
