Orebodies to Acquire 80% Interest in Zigzag Lithium/Rare Metals Property

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Orebodies to Acquire 80% Interest in Zigzag Lithium/Rare Metals Property

posted on Mar 05, 2010 07:12AM

Orebodies to Acquire 80% Interest in Zigzag Lithium/Rare Metals Property

TORONTO, ONTARIO, Mar. 4, 2010 (Marketwire) -- Canadian Orebodies Inc. (TSX VENTURE:CO) ("Orebodies") is pleased to announce that it is has entered into an Option Agreement (the "Option") with Ultra Lithium Inc. ("Ultra") and the underlying property owners (the "Owners") to acquire an 80% legal and beneficial interest (subject to a 2% NSR retained by the Owners, 50% of which can be purchased by Orebodies for $1,000,000) in the Zigzag Lithium, Tantalum, Beryllium, Gallium property (the "Property"). The Property in total consists of 129 claim units comprising 2,064 hectares, located approximately 60 km northeast of Armstrong, Ontario.