Cadillac Sells Interest in Spanish Project

Cadillac Ventures Inc. (TSXV:CDC) announced it has signed a letter agreement with Iberian Minerals Corp. (TSXV:IBN) to sell 90% joint venture interest in a project with Minas de Aguas Tenidas, S.A. for Cdn$2,500,000.

As quoted in the press release:

Cadillac acquired its 90% interest in the joint venture pursuant to an agreement with MATSA entered into in December 2008.

Cadillac’s CEO and President, Norman Brewster said:

At this time Cadillac is selling its interest in the Spanish Joint Venture in order to focus the Company’s resources on the Thierry Project in NW Ontario, a copper/nickel project which is very advanced and continuing to develop. Planning is now underway to commence definition drilling and new exploration on the 5,422 hectare Thierry Property as soon as site conditions permit.

Click here to read the Cadillac Ventures Inc. (TSXV:CDC) press release.