Vancouver, British Columbia, February 29, 2012 - Zimtu Capital Corp (TSXV:ZC) (FRANKFURT:ZCTI) has, along with three prospecting partners, signed an agreement on its Sun Graphite Property, located in southern Quebec.
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Galaxy Capital Corp (TSXV:GXY) can earn a 100% interest in the Sun Graphite Property by paying staged cash and share payments as follows: (i) $3,750 upon signing of agreement; (ii) $3,750 and 250,000 upon Exchange acceptance; (iii) $7,500 and 125,000 shares 14 months from the date of Exchange acceptance; (iv) and $10,000 and 125,000 shares 24 months from the date of Exchange acceptance. For complete details of this agreement, please refer to Zimtu's news release (http://www.zimtu.com/s/NewsReleases.asp?ReportID=508885&_Type=News-Releases&_Title=Zimtu-Capital-Corp.-Announces-Transaction-with-Galaxy-Capital-Corp.-for-Sun...) on their website.
The Sun Graphite Property consists of one large contiguous block of 76 claims totalling approximately 4,200 hectares located 125 kilometres northwest of the city of Baie-Comeau, Quebec.
Previous owners, while exploring for base metal mineralization, completed a 2,600 kilometre flight path helicopter borne geophysical program. This program located multiple electro-magnetic anomalies both outside or coinciding with magnetic anomalies. In a 15 kilometre long trend, there were multiple target anomalies and off-set structures, the longest of which was 3 kilometres long. About half the major conductors were explored before the program was abandoned when it was concluded that the anomalies were related to graphite mineralization and that base metal sulphides of interest were nearly absent.
Galaxy Capital plans to mount an aggressive exploration campaign on the property commencing with a complete compilation of historic geological work followed by surface work, trenching and diamond drilling. The exploration target is multiple crystalline flake graphite deposits similar to other graphite deposits and mines in Quebec, such as Focus Metals' Lac Knife Deposit.
Due to strong demand from both traditional markets and important new technology applications, graphite prices have been increasing in recent months and over the last couple of years prices for large flake, high purity graphite have more than doubled.
The optioned claims were acquired by Zimtu and its partners by staking, and were acquired for project generation. Zimtu, along with its prospecting partners, continues to evaluate and acquire prospective resource properties, which are made available for sale or joint venture.
Zimtu is currently trading at $1.20 and with 22 million shares outstanding, is capitalized at approximately $26 million.
For a more information on Zimtu Capital and the company's other properties, please visit the company's website at www.zimtu.com (http://www.zimtu.com) or phone Kevin Bottomley at 604-681-1568
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