Mantle Announces Lincoln Peck Financial Inc. as Financial Advisors
July 10, 2007
Vancouver, B.C. – July 10, 2007 – Mantle Resources Inc. (TSX Venture: MTS; Frankfurt: A0F7E1) (“Mantle” or the “Company) is pleased to announce that it has engaged Lincoln Peck Financial Inc. (Lincoln Peck) as its financial advisors to assist in evaluating strategic options in relation to its Akie zinc-lead property and other extensive land holdings in northeast
Lincoln Peck is a new
based mid-market investment banker focused on the resource sector that provides experienced, independent, success driven advice on corporate strategy, mergers and acquisitions and financings.
In conjunction with this engagement, the Company has granted Lincoln Peck Financial Inc. 400,000 incentive stock options, exercisable at a price of $1.26 per share for a three year period. Subject to regulatory approval, the Company has also granted to directors and officers a total of 525,000 stock options at the same price as above, exercisable for a period of five years.
About the Akie Property
The Akie zinc-lead property is situated within the southern-most part (Kechika Trough) of the regionally extensive Paleozoic Selwyn Basin, one of the most prolific sedimentary basins in the world for the occurrence of SEDEX zinc-lead-silver and stratiform barite deposits.
Drilling on the Akie property by Inmet Mining Corporation during the period 1994 to 1996 and Mantle in 2005 and 2006 has identified a significant body of baritic SEDEX mineralization (Cardiac Zone) containing average combined zinc+lead contents in excess of 10%. The deposit is hosted by variably siliceous, fine-grained clastic rocks of the Middle to Late Devonian ‘Gunsteel formation’.
Three similar deposits, Cirque, South Cirque and Driftpile (all owned by Teck-Cominco), with a combined geologic inventory in excess of 65 million tones averaging approximately 10% combined zinc-lead, occur in ‘Gunsteel’ rocks to the northwest of the Akie deposit.
The TSX Venture Exchange has neither approved nor disapproved the contents of this press release.
ON BEHALF OF THE BOARD OF DIRECTORS
MANTLE RESOURCES INC.
PEEYUSH VARSHNEY, LL.B