Puget Ventures/IMHL/Global Cobalt Transaction Update

Puget Ventures Inc. (TSXV:PVS) reports an update on progress made since the December 6th, 2010.

The press release is quoted as saying;

The Karakul Cobalt Project is located in the Republic of Altai in the Russian Federation. A large amount of exploration and pre-development work has been conducted, demonstrating an extensive mineralized zone with numerous identified occurrences of potentially valuable minerals including cobalt.

Alexei Musteatsa, Executive Director at IMHL says:

“IMHL is pleased with progress to date on the transaction with Puget Ventures and the creation of Global Cobalt.”  “The vision and expertise of the proposed management and team for Global Cobalt to develop and advance the Karakul Cobalt Project and furthermore establish the Altai region of Russia as new mining jurisdiction, is very exciting.”

Click here to access the entire news release.

Click here to access Puget Ventures’ company profile.