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News Release: Electric Metals
1. ZIMTU CAPITAL CORP. ANNOUNCES RARE EARTH ELEMENT PROPERTY
TRANSACTION WITH ELECTRIC METALS INC.
April 20, 2011 - Zimtu Capital Corp. (TSXv: ZC; FSE: ZCT1) (the “Company” or “Zimtu”)
is pleased to announce that the Company and three prospecting partners have signed
an agreement with Electric Metals Inc. (TSXv: EMI) (“Electric”) whereby Electric can
earn a 100% interest in eight rare earth element (“REE”) properties located in the Abitibi
region of Quebec near Geomega’s (TSXv: GMA) Montviel REE Property. The properties
are referred to collectively as the “Abitibi Claims.”
For its participation in the transaction, Zimtu will receive staged cash and share
payments from Electric as follows: (i) $2,500 on signing (received); (ii) $10,000 and
500,000 common shares on acceptance by the TSX Venture Exchange (“TSXv”); (iii)
$18,750 and 500,000 on the first anniversary of TSXv acceptance; and (iv) $31,250 and
375,000 on the second anniversary. Zimtu’s three prospecting partners will each receive
cash and share considerations equal to that of Zimtu. The vendors will collectively retain
a 2% Net Smelter Royalty on the properties; 1% of which can be purchased by Electric
for $500,000.
The Abitibi Claims total 21,600 hectares (216 square kilometres) and cover most of the
known syenite occurrences surrounding Geomega’s Montviel syenite-carbonatite
complex, which has recently produced results of 485 metres of 1.44% Total Rare Earth
Oxides (“TREO”) including 111 metres of 2.09% TREO (see Geomega news release of
March 31, 2011).
Of the eight claim blocks that comprise the Abitibi Claims, at the Ailly complex,
approximately 10 kilometres south of Montviel, historical drilling has intersected
carbonatite similar to that which hosts REE mineralization at Montviel, but which was
not assayed for REE.
The majority of the syenite-carbonatite complexes in the Abitibi region have been
emplaced along two major structural corridors. The Abitibi claims cover most of the
known syenite occurrences that have intruded these trends. Because syenite occurs
with carbonatite at Montviel and Ailly, the remaining syenites covered by the Abitibi
Claims may also be prospective for carbonatite emplacement and associated REE
mineralization. A map showing the location of the Abitibi Claims has been uploaded to:
http://www.zimtu.com/i/pdf/Electric-Metals-Abitibi-Map-Geophysics.pdf
2. The claims were acquired by the Company and its partners by staking and were
acquired for project generation. Zimtu will continue to evaluate and acquire prospective
resource properties to make available for sale or joint venture. As part of the Company’s
business, Zimtu provides mineral property advisory services and helps to connect
companies with mineral properties of interest.
For additional information on our mineral property advisory services and available
opportunities, contact Ryan Fletcher, Corporate Development and Director at
604.681.1568 or via email at rfletcher@zimtu.com.
About Zimtu Capital Corp.
Zimtu Capital Corp. invests in, creates and grows natural resource companies thereby
providing a way for shareholders to indirectly participate and profit in the public
company building process. The Company also provides mineral property advisory
services helping to connect companies to properties of interest.
Zimtu Capital trades on the TSX Venture Exchange under the symbol “ZC” and the
Frankfurt Stock Exchange under the symbol “ZCT1.” For more information please visit
the corporate website at http://www.zimtu.com or contact:
Kevin Bottomley
Shareholder Services
Toll Free: 1.877.377.6222
Phone: 604.681.1568
Email: kevin@zimtu.com
On Behalf of the Board of Directors
ZIMTU CAPITAL CORP.
“David Hodge”
David Hodge
President & Director
Phone: 604.681.1568
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
3. Statements in this document which are not purely historical are forward-looking statements, including any
statements regarding beliefs, plans, expectations or intentions regarding the future.
Forward-looking statements in this news release include that Electric can earn a 100% interest in eight
rare earth element properties; that in consideration for its interest, Zimtu will receive staged cash and
share payments from Electric, that the vendors will retain a 2% NSR on the properties; that 1% of the
NSR can be purchased by Electric for $500,000; that Zimtu will continue to evaluate and acquire
prospective resource properties to make available for sale or joint venture; and that Zimtu provides
mineral property advisory services and helps to connect companies with mineral properties of interest.
It is important to note that actual outcomes and the Company’s actual results could differ materially from
those in such forward-looking statements. Risks and uncertainties include, but are not limited to,
economic, competitive, governmental, environmental and technological factors that may affect the
Company's operations, markets, products and prices. Readers should refer to the risk disclosures
outlined in the Company’s Management Discussion and Analysis of its audited financial statements filed
with the British Columbia Securities Commission.