ICBS, Canwealth Minerals Corporation and Bayport Corporation Form New U.S. Company for Joint Gold Mining Venture in Utah

^{Published on 2011-11-23 05:35:27 - Market Wire}
 

ICBS, Canwealth Minerals Corporation and Bayport Corporation Form New U.S.... -- LAS VEGAS and MONTREAL, Nov. 23, 2011 /PRNewswire/ --

LAS VEGAS and MONTREAL, Nov. 23, 2011 /PRNewswire/ -- Canwealth Minerals Corporation, ICBS Ltd. (OTCPK: ICBT) and Bayport Corporation of Nevada announced today that they have formed Goldshore Mining LLC a Nevada company, for a joint gold and REE (rare earth elements) mining venture.

Goldshore Mining LLC is owned equally by both ICBS Limited and Bayport Corporation. Canwealth Minerals Ltd., which is owned 51% by ICBS Limited, will supply the technical expertise and equipment to commence a deep core drilling program at mining sites in Utah. The claims which are currently owned by Bayport Corporation will be transferred to Goldshore Mining LLC, which will be the sole owner of all of the claims.

The venture is intended to develop property 6 claims owned by Bayport in Utah covering 1,120 acres which have proven positive for both gold and REE (rare earth elements). Canwealth is expected to commence a three stage deep core drilling development program over the next three years starting in 2012. 

Rare Earth and precious minerals and metals are very strategic and critical for the United States military, defense welfare and many new inventions.

Canwealth Minerals Corporation is a gold and precious metal mining company which holds claims in in northern Quebec. Canwealth holds 243 claims representing 35,087 acres under management. The company currently has 8 mining locations in the Abitibi region of Northern Quebec. Along with gold and other precious metals, the company's claims have large deposits of REE (rare earth elements).

Canwealth Minerals Corporation will commence drilling operations at the Utah claim sites in the new year, which is expected to run into early summer. Assay of the core samples will be shipped to AGAT Laboratories in Toronto Ontario for analysis.

[ www.bayportcorporation.com ]

[ www.icbs.ca ] Email: [ info@icbs.ca ]

[ www.canwealthminerals.com ]

Legal Notice Regarding Forward-Looking Statements:

Safe Harbour: This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbour created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of ICBS Limited, to be materially different from the statements made herein.

SOURCE Canwealth Minerals Corporation, ICBS Limited, Bayport Corporation

RELATED LINKS
[ http://www.canwealthminerals.com ]
[ http://www.icbs.ca ]
[ http://www.bayportcorporation.com ]