Strongbow Options Shovelnose Gold Property to Westhaven Ventures

Strongbow Exploration Inc. (SBW: TSXV) is pleased to announce it has signed an option agreement with Westhaven Ventures Inc. whereby Westhaven can earn up to a 70% interest in Strongbow's Shovelnose gold property located in southwestern British Columbia. Westhaven is a TSXV Capital Pool Company (trading symbol WHN:P), and D. Grenville Thomas, Strongbow's Chairman and a director, is the President, CEO and a director of Westhaven.

Under the terms of the agreement, Westhaven can earn an initial 51% interest in the Shovelnose property by i) incurring $1.5 million in exploration expenditures over a three year period, including a firm commitment to spend $250,000 in the first year of the agreement, and ii) issuing a total of 300,000 common shares to Strongbow including 100,000 common shares within 5 business days of Exchange approval of the option agreement. Within 12 months of having earned its 51% interest in the property, Westhaven will have the option to earn an additional 19% interest (bringing its total property interest to 70%) by i) issuing an additional 500,000 shares to Strongbow, and ii) incurring an additional $1.5 million in exploration expenditures.

It is expected that Westhaven's first year exploration commitment will include exploration drilling of the Mik and Line 6 gold targets on the property (please see Strongbow news release #10-09 dated November 8, 2010 for further information on these targets).

The option agreement with Westhaven is subject to approval of the TSX Venture Exchange.


/s/"Kenneth A. Armstrong"
Kenneth A. Armstrong
President and CEO

For further information, please contact:

Ken Armstrong
President and CEO
Tel: 604 668 8355

The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy of this release.

Subscribe to our Email List

We use MailChimp as our marketing automation platform. By clicking below to submit this form, you acknowledge that the information you provide will be transferred to MailChimp for processing in accordance with their Privacy Policy and Terms.