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ICS Copper Systems Ltd. - Joint venture with TransAfrican Minerals Limited.

Publication: PR Newswire
Publication Date: 02-APR-08 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
ABBOTSFORD, BC, April 2 /PRNewswire-FirstCall/ -- ICS Copper Systems Ltd (The Company or ICS) (ICX:TSX.V) is pleased to announce that it has signed a binding Letter of Intent (LOI) with TransAfrican Minerals Limited (TransAfrican) in connection with 6 licences in the Democratic Republic of Congo (DRC), whereby TransAfrican has the option of earning up to a 70% interest in the licences by completion of cash and work commitments. The three stage deal is summarized below:



Stage 1 - to earn a 51% interest ------------------------------------------------------------------------- Minimum Exploration and Development Date for Cash Payments Expenditures to Completion to be Made(1) be Incurred ------------------------------------------------------------------------- Within 30 days of signing C$400,000 - ------------------------------------------------------------------------- Within 90 days of signing C$400,000 - ------------------------------------------------------------------------- End of Year 1(2) C$200,000 C$1,200,000 ------------------------------------------------------------------------- End of Year 2(2) C$200,000...

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