News & Articles

SACRE-COEUR MINERALS IN NEGOTIATIONS REGARDING ITS ACQUISITION

September 8, 2010

VANCOUVER, B.C. – SACRE-COEUR MINERALS, LTD. (the"Company") is pleased to announce that it has received a written non-binding proposal for the acquisition of the Company by a large international mining entity. The proposed terms are now in negotiation, but would involve the purchase of all of the outstanding common shares of the Company at a premium to the current market price. The transaction would be in the form of a Plan of Arrangement and would be subject to customary conditions, including a due diligence review. The Board of Directors of the Company has authorized the negotiation and preparation of formal documentation in respect of the proposed transaction.

Further details of the proposed transaction will be released as soon as available.

About Sacre-Coeur

The Company is engaged in the acquisition, exploration and development of properties for the potential mining of gold, metals and diamonds in South America, initially focussing on exploration for gold on its properties in Guyana. The Company presently has an interest in approximately 1000 sq. km of mineral properties in Guyana, including the Million Mountain Property. The Company has offices in Vancouver, Canada and Georgetown, Guyana. More information about the Company is available at www.scminerals.com.

ON BEHALF OF THE BOARD OF DIRECTORS OF
SACRE-COEUR MINERALS, LTD.

“Irwin A. Olian”
Chairman and Director

 

For further information, contact:

Gregory B. Sparks, President and CEO
Email: greg@scminerals.com
Phone: 604-899-0100
Fax: 604-899-0200

Scott Young, Corporate Communications – Canada
Email: scott@scminerals.com
Phone: : 705-888-2756
Fax: 604-899-0200

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of the information contained herein. The statements made in this press release may contain certain forward-looking statements that involve a number of risks and uncertainties. Actual events or results may differ from the Company’s expectations. There is no guarantee that the tenor or continuity of the resource target discussed herein will ultimately prove to be as delineated in the Company’s sampling program, nor that the yields obtained by production scale gravity extraction will be comparable to the yields produced in the sampling program.