VANCOUVER, BRITISH COLUMBIA, Jun 02 (MARKET WIRE) —
Sillenger Exploration Corp. (“Sillenger”) (OTCQB: SLGX)(OTCBB:
SLGX), an innovative and progressive mineral exploration and claims
management company, with experience in mining and business process
management in Africa and other regions of the world, is pleased to
announce that, through its relationship with FCMI Global Inc. and its
African affiliates, Sillenger has entered into a contract with the
Government of the Republic of Equatorial Guinea to conduct an airborne
geophysical survey of the continental region (27,000 sq. km) of
Equatorial Guinea, known as Rio Muni, as well as 30 km of Continental
Platform (4,500 sq. km) off the Atlantic coastline.
Under the contract, Sillenger (FCMI) will be granted exploration mining
concessions, including oil and gas concessions, which are revealed by the
survey.
Equatorial Guinea, a major offshore oil producer, has a democratically
elected government, and is one of the fastest growing economies in
Africa. The Government of Equatorial Guinea has a strong desire to
diversify its economy by developing its mining industry, and wishes to
obtain a geological and geophysical database that will enable the
detection of mineral, hydrocarbon and groundwater resources.
Mr. Diosdado Engono Bengono, General Director of Mines and Quarries,
Ministry of Mines, Industry and Energy for the Republic of Equatorial
Guinea stated, “It was a great honor working with you in order to
succeed this Agreement. Entering into this agreement will enable our
great Nation to develop its natural resource industries and diversify the
economy of our Country, the Republic of Equatorial Guinea. This will
generate many wonderful business and employment opportunities, and build
the foundations for sustainable economic growth and stability, which will
provide lasting prosperity for the great people of the Republic of
Equatorial Guinea. We are looking forward to a long and mutually
rewarding partnership.”
“We consider this a significant opportunity for both Equatorial
Guinea and Sillenger Exploration,” stated Mr. John Gillespie,
President and CEO of Sillenger Exploration, “and we are very honored
to be in partnership with the Government to develop the Country’s
resources.”
The Ministry of Mines, Industry and Energy of Equatorial Guinea, has
provided Sillenger with all existing resource data for review by the
Company’s Director of Exploration, Dr. Allan Juhas, Ph.D as part of the
“fast-track” process developed in partnership with the
Government. All requisite permits, licenses and documentation are being
prepared allowing the airborne geophysical survey to commence in July
2010.
About Sillenger Exploration Corp.
Sillenger is an innovative and progressive mineral exploration and claims
management company, with experience in mining and business process
management in Africa and other regions of the world.
It is dedicated to bringing a progressive, creative and proprietary
approach to natural resource exploration. The Sillenger CLP Claims
Licensing Program(R) is a turnkey process used in partnership with
Governments to improve the way their natural resources are managed. The
Company’s Government partners provide a “fast-track” to
expediting all necessary permits, licenses, legal, and other bureaucratic
documentation and procedures that exploration and extraction companies
would require in order to begin their work programs in these countries.
The Company believes there is a strong indication that the Republic of
Equatorial Guinea, which is a major offshore oil producer, is potentially
rich with gold, diamonds, and other precious resources. The West Africa
region hosts a number of major base metals mines extracting copper, zinc,
bauxite, and iron ore. Recent exploration activity has led to the
discovery of rare element strategic minerals such as uranium, tantalum,
gallium and lithium.
Forward-Looking Statements
Information in this press release may contain ‘forward-looking
statements.’ Statements describing objectives or goals or Sillenger
Exploration Corp.’s future plans are also forward-looking statements and
are subject to risks and uncertainties, including the financial
performance of Sillenger Exploration Corp. and market valuations of its
stock, which could cause actual results to differ materially from those
anticipated. Forward-looking statements in this news release are made
pursuant to the ‘Safe Harbor’ provisions of the United States Private
Securities Litigation Reform Act of 1995.
Contacts:
Sillenger Exploration Corp.
info@sillenger.com
www.sillenger.com
Investor Relations:
Drew Farion
310-860-5686
drewfarion@sillenger.com
MJW Communications
Marjorie Wallens
416-961-5924
mwallens@mjwcommunications.com
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