Penoles Accepts Shares for Final Payment
February 9, 2007
Aurcana Corporation ("Aurcana" or the "Company") is pleased to announce that it has reached an agreement to amend the terms of the original purchase agreement to acquire the La Negra Mine from Industrias Penoles, SA de CV ("Penoles"). Subject to the approval of the TSX Venture Exchange, the Company may pay the remaining and final payment to Penoles totalling US$1,000,000 by the issuance of 1,114,631 common shares of the Company. The number of shares have been calculated in accordance with the "Discounted Market Price" as defined in the TSX Venture Exchange Policy 1.1.
ON BEHALF OF THE BOARD OF DIRECTORS OF
"Ken Booth", President
For further information, please contact:
Ken Booth, President or
Colin Farr, Investor Relations
Phone: (604) 331-9333
Web site: www.aurcana.com
The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this Release.