Further Update On The Processing Of The West Lombok IUP
Vancouver, B.C.: Southern Arc Minerals Inc. (“Southern Arc” or the “Company”) (TSX Venture: SA) is pleased to provide this further update on its application for an exploration mining business license (IUP) for its West Lombok Property.
The West Lombok IUP must be issued to a local Indonesian holding company. The local Indonesian holding company’s Deed of Establishment has now been completed, along with other related corporate formalities. The West Lombok Regent was one of the signatories on the Deed of Establishment.
The final step in the issuance of the IUP is the completion of a Joint Venture Agreement between the shareholders of the local Indonesian holding company. A meeting to include the West Lombok Regent has been scheduled for December 9, 2010, with the objective of finalizing the Joint Venture Agreement.
Following conclusion of the Joint Venture Agreement the West Lombok Regent will issue the Company’s IUP license.
On behalf of the Board of
Southern Arc Minerals Inc.
“John Proust”
Chairman and CEO
For more information please contact:
Southern Arc Minerals Inc.
c/o John G. Proust, Chairman
Telephone: (604) 676-5241 Fax: (604) 676-5246
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Website: www.southernarcminerals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
