Sacre-Coeur Completes Prioritization and Restructuring of Its Guyana Property Portfolio; 1,013 sq km in Five Regional Blocks Retained
VANCOUVER, BC -- (Marketwire) -- 01/05/09 -- SACRE-COEUR MINERALS, LTD. (the "Company")(TSX-V: SCM) (FRANKFURT: S5N) today announced that it has completedrationalization of its extensive portfolio of mineral properties in Guyana,South America. Over the past three years, the Company has conducted fieldexploration as well as desk-top reconnaissance studies over the prospectiveareas within its portfolio, which comprised approximately 2,360 sq km inseven regional blocks. The Company acquired rights to the portfolio underthe Mining Agreement dated March 22, 2005, as amended, with Mr. AlfroAlfonso, which remains in effect.
The remaining properties are held in five regional blocks (down from sevenin the original portfolio). Two of the Company's seven regional blocks,the Oko and Mahdia-Issano blocks, have been dropped in view of management'sassessment of their limited potential and in some cases difficult access,infrastructure or environmental issues. The breakdown of current holdingsin each of these key remaining regional blocks is as follows:
District/Project Area----------------------------------------------------------------------Puruni District----------------------------------------------------------------------Lower Puruni Regional Block (incl Million Mtn)----------------------------------------------------------------------Kartuni Regional Block----------------------------------------------------------------------Puruni District Total 511.97 Sq Km----------------------------------------------------------------------Potaro District----------------------------------------------------------------------Kurupung Regional Block----------------------------------------------------------------------Potaro-Kuribrong Regional Block----------------------------------------------------------------------Potaro District Total 52.13 Sq Km----------------------------------------------------------------------Northwest District----------------------------------------------------------------------White Creek----------------------------------------------------------------------Wallabaka----------------------------------------------------------------------18 Mi----------------------------------------------------------------------19 Mi----------------------------------------------------------------------Manari----------------------------------------------------------------------PL----------------------------------------------------------------------Northwest District Total 449.01 Sq Km--------------------------------------------------------------------------------------------------------------------------------------------Grand Total 1,013.11 Sq Km
According to Irwin Olian, CEO of the Company, "The current propertyreductions reflect the extensive work done by our outstanding exploratoryteam in Guyana over the past three years, overseen by Gregory B. Sparks,P.Eng., Senior V.P. We have successfully identified those areas within ourportfolio meriting further work and expenditure of funds, while droppingareas with only limited potential. The result is a more streamlinedproperty portfolio which will enable us to focus now on our prioritytargets while economizing on our costs. Our current 1,013 sq km portfoliocontains all of the significant targets we have identified in the fiveregional blocks we now deem to have the greatest potential and represents asignificant opportunity for us to create shareholder value. Future workwill focus on drilling and development within our portfolio, as opposed tograssroots exploration which previously took up much of our attention. Weremain particularly excited about the Million Mountain Gold Project in theLower Puruni Region, and now have two diamond drills on site recommencingdrilling activities after the Holiday break."
About Sacre-Coeur
The Company is engaged in the acquisition, exploration and development ofproperties for the potential mining of gold, metals and diamonds in SouthAmerica, initially focussing on exploration for gold on its properties inGuyana. The Company presently has an interest in approximately 1,000 squarekilometers of mineral properties in Guyana, including the Million MountainProperty. The Company has offices in Vancouver, Canada and Georgetown,Guyana. More information about the Company is available atwww.scminerals.com.
ON BEHALF OF THE BOARD OF DIRECTORS OFSACRE-COEUR MINERALS, LTD."Irwin Olian"Irwin Olian, CEO and Chairman
The TSX Venture Exchange has not reviewed and does not acceptresponsibility for the adequacy or accuracy of the content of theinformation contained herein. The statements made in this press releasemay contain certain forward-looking statements that involve a number ofrisks and uncertainties. Actual events or results may differ from theCompany's expectations.
Distributed by Filing Services Canada and retransmitted by Marketwire
For further information, contact:Irwin OlianPresident and CEOEmail: Email ContactPhone: 604-899-0100Fax: 604-899-0200Scott YoungCorporate CommunicationsEmail: Email ContactPhone: 604-899-0100Fax: 604-899-0200
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