Grenville sues High Ridge over Bella Rubia ownership
2008-03-04 19:17 ET - News Release
Also News Release (C-HRR) High Ridge Resources Inc
Mr. Paul Gill of Grenville reports
GRENVILLE GOLD CORPORATION FILES LEGAL ACTION AGAINST HIGH RIDGE RESOURCES INC.
Grenville Gold Corp. has filed a lawsuit against High Ridge Resources Inc. in the Supreme Court of British Columbia for slander to title of the company's Bella Rubia mineral exploration properties, which form part of the company's Silveria project in Peru.
The Bella Rubia concessions were acquired by Grenville's subsidiary, Minera Grenville S.A.C., pursuant to an agreement notarized July 9, 2007. Grenville's subsidiary has paid the full $700,000 (U.S.) consideration required to purchase the Bella Rubia concessions. High Ridge has publicly disclosed conflicting claims to the Bella Rubia concessions and has failed to retract such claims despite demand. The company believes that its ownership of the Bella Rubia concessions is valid and further believes that the only means to clarify the public disclosure record and end the cloud over its title to the Bella Rubia concessions is to bring legal action against High Ridge.
The Bella Rubia concessions cover approximately 148 hectares of the 3,959 hectares of mineral titles staked and acquired in the Silveria region by Minera Grenville S.A.C.. Grenville has accumulated a significant package of mineral titleholdings amongst four former-producing mines: the Millotingo, Pacococha, Silveria and Germania. A mining permit has been obtained on the Bella Rubia concessions and thus, they are vital to Grenville's development plans.
In addition, Grenville's Frank Ricciuti has resigned from the board of directors. Mr. Ricciuti has accepted a position with another firm and is unable to continue his duties as director of the company. Grenville wishes Mr. Ricciuti well in his future endeavours.
We seek Safe Harbor.
