Vancouver, British Columbia - Artha Resources Corporation (TSX.V: AHC) announces that pursuant to the Option Agreement between Cardero Resources Corp., Cardero Argentina, S.A. and Artha Resources Corporation (the "Option Agreement"), the Company has decided to voluntarily withdraw from the Option as a result of Artha meeting its short term strategy of consolidating its projects and reducing its ongoing expenditure commitments.
The Organullo project requires a significant injection of capital in the short term in order to properly assess its economic potential and given the severely constrained capital markets for junior resource companies still very apparent the Company considers the withdrawal from the Organullo Option to be a natural move.
Corporate Update.
Artha is continuing detailed due diligence regarding the metal streaming opportunity previously announced and is awaiting key information from the streaming company, including audited financial statements, which are currently being prepared. Once these statements have been received it is anticipated that a decision will be made by Artha as to how to proceed with this opportunity based on a satisfactory outcome of the due diligence.
On Behalf of the Board of Directors,
"Todd McMurray"
President
For Information Contact:
Todd McMurray
President, Director
Email: todd@artharesources.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Forward-Looking Statements
This press release contains forward-looking information within the meaning of the British Columbia Securities Act relating to the Company's expectations, intentions, plans and beliefs. Forward-looking statements include statements regarding the Company's. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results to be materially different from any future result expressed or implied by the forward-looking statements. Factors that may cause actual results to vary include, but are not limited to, risks inherent in mineral exploration and development including environmental hazards, unusual or unexpected geological formations; risks associated with the estimation of mineral resources and reserves and the geology, grade and continuity of mineral deposits; uncertain political and economic environments; changes in laws or policies; completion for capital and skilled workers; and changes in commodity prices and exchange rates. The Company does not assume the obligation to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.