From: Biniam Tekle (biniamt@dehai.org)
Date: Wed May 27 2009 - 08:22:08 EDT
Wednesday, May 27, 2009
Sub-Sahara Resources gains extensions on key exploration licenses from
Eritrea Government
*Sub-Sahara Resources* (ASX: SBS) received some good news from the
Government of Eritrea in Africa as the four exploration licenses it holds
that cover the Zara Gold Project have been extended by the Government for a
further 12 months. The extension satisfies a key pre-condition of the
company's proposed merger with *Chalice Gold Mines* (ASX: CHN).
Sub-Sahara will be able to continue to progress a pre-feasibility study due
for completion by the end of October, 2009 and a full feasibility study by
May 25, 2010.
Michael Griffiths, Sub-Sahara Managing Director said the Government had
thrown strong support behind Sub-Sahara, having taken into account the
current market conditions, amount of work done to date and the expectation
of the proposed merger with Chalice
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