Bacanora Announces Agreement to Acquire Lithium Claims

- July 23rd, 2010

BACANORA MINERALS LTD. (TSX VENTURE:BCN.P) announced that it has entered into an agreement to acquire four exploration licenses in respect of Lithium claims in the Sonora State of Mexico, covering approximately 4,050 hectares (the “Claims”), in addition to a pending application in respect of a further 500 hectares.

BACANORA MINERALS LTD. (TSX VENTURE:BCN.P) announced that it has entered into an agreement to acquire four exploration licenses in respect of Lithium claims in the Sonora State of Mexico, covering approximately 4,050 hectares (the “Claims”), in addition to a pending application in respect of a further 500 hectares.

The press release is quoted as saying:

The project area is situated 120 km northeast of Hermosillo in Sonora State, Mexico and about 200 km southeast from the current Bacanora properties of Magdalena and Tubutama. Pursuant to the Agreement, Bacanora has agreed to issue an aggregate of 600,000 common shares to the vendor and to reimburse the vendor for U.S. $40,000 in prior expenditures incurred on this project. Closing of this acquisition is expected to occur promptly following receipt of TSX Venture Exchange approval.

Click here to access the entire press release

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