Confederation Minerals Ltd. (the "Company") is pleased to report that the Company has obtained the agreement of the optionor of its Mitchell Belanger property to accept $2,000 and 310,000 shares on or before May 31, 2010 in satisfaction of the $40,000 final payment for the property. Upon completion of the payment and the share issuance, the Company will own 100% of the claims, subject only to a 2.0% net smelter return (half of which may be purchased for $1,000,000). The share issuance is subject to regulatory approval.
The Company has also made the final payment to the optionor of the Matless Lake property and now owns 100% of those claims, subject only to a 2.0% net smelter return (half of which may be purchased for $1,000,000). As previously announced, Shoreham Resources Ltd. has an option to earn a 70% interest in the Matless property and is actively exploring the property .
CONFEDERATION MINERALS LTD.
Peter Bryant, CFO
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
For further information please contact:
Lawrence Dick, President
Telephone (604) 688-9588