http://www.cnq.ca/Storage/1226/110379_COUnr081009.pdf
Aug 10, 2009 – Cougar Minerals Corp. – CNSX Trading Symbol: COU (the “Company”) has entered into an agreement to earn a 100% interest in the Vena property in the Rice Lake area of Manitoba.
The Vena claims are located approximately 20 kilometres southeast of the town of Bissett, Manitoba, where San Gold Resources is developing the newly discovered Hinge Zone containing high-grade gold mineralization. In order to exercise the Vena option, Cougar is obligated to pay the vendors a total of $57,500 and to issue a total of 950,000 shares over a two-year period. Cougar may purchase one-half of a 3% net smelter returns royalty from the vendors for $1.5 million.
The newly acquired Vena property covers an area of 1,122 hectares and is located at the north end of Beresford Lake. It is situated approximately 15 kilometres southeast of the company’s PFG/Bill property and 10 kilometres north of the recently acquired Wyatt Claims.
In the Beresford Lake area, rocks of the greenstone belt have been folded into a regional anticlinal structure. Several shear-hosted gold-bearing quartz veins, including the past-producing Solo-Oro Grande, Gunnar and Central Manitoba mines, are distributed along the limbs of this anticlinal structure. The Vena claims cover a portion of the northeastern limb of the anticline, on strike to the northwest from the Mandalay showing and from the Solo-Oro Grande mine, where limited historic production (9,700 tonnes grading 17 g/t Au, 1932-40) is reported. The Central Manitoba and Gunnar mines were more significant past-producers. Historic production from the Central Manitoba mine (1927-35) totals approximately 480,000 tonnes at an average grade of 12.3 g/t Au, while that from the Gunnar mine (1936-42) totals approximately 260,000 tonnes at an average grade of 11.8 g/t Au.
On the company’s Vena property, a zone of shearing and quartz veining has been tested intermittently by a series of shallow, historic (1930s) prospect pits, over a strike length of several hundred meters. A number of grab samples from quartz veins on the Vena claims have returned anomalous gold values, to a maximum of 6.1 g/t Au. Rock exposure on the property is limited, and the property is untested by any systematic work. None of the known zones of veining on the property have had any modern stripping, trenching or systematic sampling, nor have any been tested by diamond drilling.
Linda Caron, M.Sc., P.Eng., Cougar’s Qualified Person under NI 43-101 standards, has reviewed and accepted the technical contents of this release.
COUGAR MINERALS CORP.
s/“Mike Elson”
Mike Elson
President
