|By Marketwired .||
|May 9, 2014 11:19 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/09/14 -- Sanatana Resources Inc. ("Sanatana" or the "Company") (TSX VENTURE: STA) announces that the Ontario Mining and Lands Commissioner released its decision with respect to Sanatana's preliminary motion of March 11, 2014. While the tribunal did not dismiss Trelawney Mining and Exploration Inc.'s ("Trelawney") easement application, the tribunal did order that Trelawney is required to produce and file an extensive suite of documents in support of its application. A summary of the order is set forth below and the full text of both the order and the reasons of the tribunal will be made available on Sanatana's website at http://www.sanatanaresources.com.
Peter Miles, Chief Executive Officer of Sanatana stated: "We made this motion in part to compel Trelawney to file the required documents to enable us to defend the easement application. In its reasons for the order, the tribunal stated that it 'is of the view that Trelawney is hesitant to provide the information either because it does not yet exist or because it fears divulging something that might be used by Sanatana to its advantage.' While we do not know Trelawney's motive for failing to provide the required information, we do applaud the tribunal's order which reiterates our position that if Trelawney wants to move the easement application to a hearing, then it is required to produce and file the information required by the Mining Act (Ontario)."
Mr. Miles further stated: "We have a number of objections to Trelawney's easement application and once the required information is produced and filed, we look forward to presenting our position to the tribunal."
Summary of the Order
On March 11, 2014, Sanatana made a preliminary motion to the tribunal to set a timetable, compel the production of certain documents and, in the alternative, to dismiss the application on the basis that Trelawney had not filed the documents required under subsection 175(4) of the Mining Act (Ontario). While the tribunal did not dismiss Trelawney's easement application, the tribunal did order that on or before July 8, 2014, Trelawney is required to produce and file the following:
-- "A clear and precise statement listing the rights being applied for and how each right is required for or in connection with the proper working of a mine. Information related to the exact status of the mine is to be provided at the same time. For example, is it built? If not, when will it be built? If the answers to these questions depend on the processing of feasibility studies, then the tribunal expects information regarding the status of any related or relevant study. These are general questions and the tribunal expects as much information on this issue as the applicant can reasonably provide. -- Each right is to be listed separately and the corresponding works or things for each right applied for are to (be) clearly listed and described. -- Definite and detailed plans and specifications for any proposed dams, transmission towers, and any other works or things that Trelawney proposes to construct or have constructed or done. For example, where the easements pertains to the building of a dam, then plans and specifications for the dam are to be provided. The dam's effect on watercourses is to be specified, with upstream and downstream impact specified as well with potential creation of floodplains delineated and drops in water levels indicated. -- The land or property being affected along with the owner or owners as far as they can be ascertained. -- A map or plan of the locality showing the land and water involved."
The tribunal further ordered that Sanatana has the right to produce and file a response to Trelawney's materials described above on or before August 8, 2014.
The tribunal further authorized Trelawney and any of its engineers, assistants or other employees, to enter on the Watershed Property to make such examinations and to take such measurements as may be necessary for the production of the information required by the order.
Finally, the tribunal ordered that no costs be awarded to either party in connection with the motion.
Once the above information is produced and filed, Sanatana and Trelawney may coordinate with the tribunal with respect to setting down a hearing date.
About the Company
Sanatana Resources Inc. is a Canadian mineral exploration and development company focused on its Watershed property in Ontario. Sanatana entered into an option and joint venture agreement with Trelawney Augen Acquisition Corp. (formerly Augen Gold Corp.) ("TAAC") which grants Sanatana an option to acquire up to 51% of the Watershed Property consisting of 46 mining claims totalling approximately 19,006 acres and located within the townships of Yeo, Chester, Neveille and Benneweis. As at November 28, 2012, Sanatana exercised its first option and is the legal and beneficial owner of 50% of the Watershed Property. Sanatana has until March 23, 2016, to decide whether to exercise its right to acquire a further 1% in the Watershed Property.
In June 2012, IAMGOLD Corporation completed its acquisition of Trelawney Mining and Exploration Inc. and became the sole indirect shareholders of TAAC. In 2013, Sanatana expanded the Watershed Property by acquiring, for the sole benefit of Sanatana and TAAC, a 20% interest in three additional mining claims located in Yeo and Chester Townships, Ontario. In addition to the Watershed Property, Sanatana also has mineral exploration property in Saskatchewan. With an experienced management team and board of directors, the Company has the ability required to identify, develop and fund economic mineral properties. Sanatana is based in Vancouver and is listed on the TSX Venture Exchange (TSX VENTURE: STA).
SANATANA RESOURCES INC.
Peter Miles, President and Chief Executive Officer
Cautionary Statement Regarding "Forward-Looking" Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "plans", "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond Sanatana's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Sanatana Resources Inc.
Mr. Peter Miles
President and Chief Executive Officer
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