News
Release
July
11, 2003
CALGARY,
ALBERTA--Softrock Minerals Ltd. ("Softrock") (TSXV "SFT")
announces that it has farmed out all of their interests in 2,070 ac of
Saskatchewan P&NG leases located in West Central Saskatchewan to Vergene
Capital Corp. (TSXV "YVN"). Softrock is to receive $190,000
plus one million shares of Vergene upon recovery of all capital costs
and a further one million shares of Vergene upon recovery of double their
capital costs.
The majority
of the cash proceeds will be used to satisfy all outstanding shareholder
loans and operating debts of Softrock. The farm out is subject to all
necessary regulatory approvals.
Softrock
is in the process of negotiations with Leede Financial Markets to issue
options of Softrock in payment of a finder's fee, subject to regulatory
approval.
Softrock
is pleased to announce the appointment of The Honourable Nicholas Taylor
to the position of President of the Corporation. Mr. Taylor expressed
the appreciation of the board and said he spoke on behalf of many shareholders
when he thanked Mr. McLean for his many years as President and Chief Executive
Officer and was pleased that he was to continue on the board, as does
Denis Gagnon and Arne Nielsen. Mr. Bernie Pedersen, a well-known Calgary
oil person was appointed to the board as well.
FOR FURTHER
INFORMATION PLEASE CONTACT:
Softrock
Minerals Ltd.
Nick Taylor
President
Ph:(403) 266-2605 or Fax:(403) 266-2730
Email: info@softrockminerals.com
The TSX Venture Exchange has not reviewed and does not accept the responsibility
for the adequacy or accuracy of this release.
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