Canadian Mining's new agreement for Raquel 3

2008-12-15 18:46 ET - Property Agreement

Further to the bulletins dated March 31, 2008, April 3, 2008, and Sept. 12, 2008, the TSX Venture Exchange has accepted for filing documentation in connection with a purchase agreement dated Dec. 4, 2008, between Canadian Mining Company Inc., Exploraciones San Bernardo S.A. de C.V. and Canmin Mexico S.A. de C.V., a wholly owned subsidiary of Canadian Mining, whereby the parties have agreed to convert the option agreement dated Feb. 27, 2008, to acquire a 100-per-cent interest outright in the Raquel 3 mining concession located in Sonora, Mexico, as opposed to over a five-year period. Consideration is one million common shares to Athanasios Raptis, the principal of San Bernardo. There are no further obligations payable under the previous schedule. Consideration paid to date is $75,000, 500,000 common shares and approximately $230,000 in expenditures.

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