Mantle Returns Shares To Treasury – Reduces Shares Issued And Outstanding
January 8, 2008
, B.C. – January 8, 2008 – Mantle Resources Inc. (TSX Venture: MTS;
: AOF7E1) (the “Company”) is pleased to announce that it has cancelled and returned 919,220 common shares to the treasury of the Company. These common shares had been acquired by the Company as a result of its share exchange take over bid for common shares of Ecstall Mining Corporation. As a result of the cancellation of these shares, the Company’s issued and outstanding share balance has been reduced to 68,962,868.
About Mantle Resources Inc.
The Company has a 100% interest in the Akie zinc-lead property, in northeastern
, approximately 260 kilometers north-northwest of the town of
. 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 both Inmet Mining Corporation during the period 1994 to 1996 and by Mantle in 2005 and 2006 and this year has identified a significant body of baritic SEDEX mineralization (Cardiac Creek Zone). The deposit is hosted by variably siliceous, fine grained clastic rocks of the Middle to Late Devonian ‘Gunsteel Formation.
Two similar deposits, Cirque and South Cirque, located some 20 kilometers northwest of Akie and owned under a joint venture by Teck Cominco and Korea Zinc, are also hosted by Gunsteel rocks and have a combined geologic inventory in excess of 50 million tonnes averaging approximately 10% combined zinc+lead.
On behalf of the Board of Directors
MANTLE RESOURCES INC.
“Peeyush K. Varshney”
Peeyush K. Varshney, LL.B
CEO & Chairman