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Message: news: KWG proposes Big Daddy scoping study and rail feasibility study

news: KWG proposes Big Daddy scoping study and rail feasibility study

posted on Apr 08, 2010 11:43AM

http://www.newswire.ca/en/releases/archive/April2010/08/c8829.html

KWG proposes Big Daddy scoping study and rail feasibility study

Symbol on TSX-Venture Exchange: KWG

Shares issued and outstanding: 519,817,356

MONTRÉAL, April 8 /CNW/ - KWG Resources Inc. (TSXV - KWG) ("KWG") advises that, under the terms of the Option Agreement with Spider Resources Inc. (Spider) and Freewest Resources Canada Inc. respecting the Freewest Option Project, KWG became Operator on April 1st, 2010. Each of KWG and Spider currently hold a 26.5% interest in the Freewest Option Project which contains the Big Daddy chromite deposit and have the right to earn an additional aggregate 7% interest by spending $10 million or by delivering a positive feasibility study on or before March 31, 2012. As Operator, KWG has proposed to Spider that KWG and Spider undertake a scoping and related resource definition study on the Big Daddy chromite deposit as part of their earn-in. The scoping study would be completed in conjunction with a feasibility study to be undertaken by KWG for construction of a railroad from the deposit to Exton, Ontario along claims held by KWG's subsidiary Canada Chrome Corporation. ........................

didnt paste the whole thing.

GLTA

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