Portfolio News
| June 07, 2010 Teslin River Announces New Business Development Strategy and Acquires Initial Asset | |
| Teslin River Resources Corp. (TLR:TSX-V) ("Teslin" or the "Company") is pleased to announce a change in its strategic development mandate. The Management and Directors of Teslin believe significant opportunity exists to build shareholder value by acquiring, exploring and developing a portfolio of copper and copper-gold porphyry properties throughout North and South America. Teslin Management and Directors will use their extensive network of contacts to assemble a portfolio of properties from early stage exploration to advanced, exploitation ready assets. Management believes the long term fundamentals for copper remain strong as the recession eases and emerging economies and new technologies continue to increase demand for this sought after metal. As part of this business strategy realignment, the Company is pleased to announce the acquisition of the Tagai Property from Strategic Metals Ltd. (TSX-V: SDM). This property acquisition is the first step in implementing the Company's new strategic mandate of focusing on copper-gold porphyry properties in the Americas. The Tagai Property is located in the Vanderhoof area of central British Columbia. The Tagai Property has been acquired from Strategic Metals Ltd. by paying $50,000 on conclusion of the acquisition, $75,000 on the first year anniversary of the closing of the acquisition. Strategic completed prospecting and soil geochemical surveys on Tagai in 2007. Geochemical anomalies and showings identified during 2007 were followed up with property-wide helicopter-borne VTEM and magnetic surveys in 2008. Strategic conducted deep auger soil sampling in geochemically and geophysically prospective areas on both properties in September 2009. This sampling returned strong copper anomalies, some of which are accompanied by high gold values, on both properties. Teslin is currently reviewing data in order to develop and execute an exploration program. It is expected that details of this program will be announced in the near future. "The Directors of Teslin have tasked me with driving the business forward quickly with this new strategy," stated Michael Sweatman, President and CEO of Teslin. "The Tagai Property fits our plans well and has potential as part of the early stage property component of the portfolio. Along with the Board, I am working on other potential acquisitions and look forward to updating shareholders shortly." Mr. Sweatman went on to state, "Additionally, Teslin continues to advance its Rand gold properties located in the Cariboo region of British Columbia." About Teslin River Resources Corp. Teslin River Resources Corp. holds the Rand Claims located approximately 7 kilometres southeast of Horsefly in the Cariboo region of central British Columbia. Based on the reported work and drilling by surrounding operators, the area is considered prospective for a large copper-gold porphyry body. Neighboring properties held by Fjordland Exploration Inc. (FEX:TSX-V) and Cariboo Resources Ltd. (CRB:TSX-V) are currently the subject of significant exploration including drilling by Gold Fields Limited (GFI:NYSE) under an option agreement. ON BEHALF OF THE BOARD "Michael Sweatman" Michael Sweatman, President and CEO 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. | |
