Altitude Resources and Kuro Coal Announce Joint Venture in Elan Coking Coal Project

Altitude Resources (TSXV:ALI) has announced it is entering in to a joint venture with Elan Coal and Kuro Coal. The venture will give Kuro Coal up to 70 percent of the Elan Coal project in southwestern Alberta.

Upon successful completion of several exploration milestones, culminating in the completion of a feasibility study, Kuro will have earned a 70% ownership position in the Joint Venture. Altitude and Elan will own 12.5% and 17.5%, respectively.

Gene Wusaty, President and CEO of Altitude Resources, said:

We are very pleased to continue to be a part of this exciting metallurgical coal exploration opportunity. The involvement of the experienced Kuro management team in the Joint Venture is expected to provide the project with access to funding right through to feasibility. This will allow Altitude to focus fully on its exploration efforts on its 100% owned Palisades and related projects in west central Alberta.

Click here to read the Altitude Resources Inc. (TSXV:ALI) press release