Alloy Capital Corp. Announces Letter of Intent for Acquisition of Lancaster Exploration Ltd.

Alloy Capital Corp. (TSXV:AYL.P) announced that it has entered into a letter of intent dated August 16, 2010 to acquire, directly or indirectly, Lancaster Exploration Limited.

The press release is quoted as saying:

Lancaster’s primary business is the exploration for rare earth elements and associated minerals in the Republic of Malawi. Lancaster holds a 100% interest in an exclusive prospecting license over an area of 1,283 km2 in southeast Malawi.

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