VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/19/12 -- ICN Resources Ltd. ("ICN" or the "Company") (TSX VENTURE:ICN) is pleased to announce that further to the Company's news release of December 19, 2011, the Company has received approval from TSX Venture Exchange on a property option agreement dated December 13, 2011 (the "Agreement") between the Company and David Cooper Knight and Debra Jane Knight as trustees of the David C. and Debra J. Knight Living Trust (the "Vendor"), whereby ICN has been granted an option to acquire a 100% interest in 35 unpatented claims in the Silver Cliff property, located in Custer county, Colorado.
Pursuant to the Agreement, ICN has issued 150,000 common shares in the capital of the Company (the "Shares") to the Vendor at a deemed price of $0.23 per Share. These Shares are subject to a statutory hold period expiring on May 12, 2012.
About ICN Resources
ICN is primarily focused on exploration for volcanic-hosted precious metal deposits in western Nevada, emphasizing targets with geological similarities to Sleeper, Sandman, Hollister, Midas and Aurora. ICN plans to explore the feeder zones associated with large low-grade gold and silver systems, as well as explore for high grade deposits at the new Goldfield Bonanza Project located in western Nevada. ICN continues to evaluate opportunities in established metallogenic belts elsewhere in the United States. The ICN management and geological team have extensive experience in Nevada and worldwide, utilizing this experience to generate prime opportunities for ICN shareholders.
On Behalf of the Board of Directors of ICN Resources Ltd.,
Carl Hering, President & CEO
ICN Resources Ltd.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: ICN Resources Ltd. Tasso Baras 1-877-738-3882 or 604-738-3882 www.icnresources.com