Meston Resources obtains additional extension to conclude Plan of Arrangement
29 May 2008 - 1:54AM
PR Newswire (US)
MONTREAL, May 28 /PRNewswire-FirstCall/ -- Campbell Resources Inc.
(TSX: CCH, OTC Bulletin Board: CBLRF) ("Campbell") announces that
the Quebec Superior Court has granted Meston Resources Inc.'s
("Meston") request for an additional extension to September 30,
2008 of the initial order granted June 30, 2005 under the
Companies' Creditors Arrangement Act ("CCAA") to allow Meston to
fulfil its obligations under its Plan of Arrangement. During this
extension period, Meston will work with the Monitor in doing an
inventory of all of its assets and will initiate a process of
solicitation of interest in those assets, which primarily consist
of the Joe Mann mine. Campbell Resources concentrates on the
development and exploitation of copper and gold mining properties
in the Chibougamau region of Quebec. The geographical grouping of
its operations allows the Company to realize economies of scale and
to focus development within access to existing infrastructures.
Campbell's main operations include the Copper Rand and Merrill
mines, the Corner Bay project and the Copper Rand mill. The
Company's headquarters are located in Montreal, Quebec. Certain
information contained in this release contains "Forward-Looking
Statements" within the meaning of the Private Securities Litigation
Reform Act of 1995 and is subject to certain risks and
uncertainties, including those "Risk Factors" set forth in the
Campbell's current Annual Report on Form 20-F for the year ended
December 31, 2007. Such factors include, but are not limited to:
differences between estimated and actual mineral reserves and
resources; changes to exploration, development and mining plans due
to prudent reaction of management to ongoing exploration results,
engineering and financial concerns; and fluctuations in the gold
price which affect the profitability and mineral reserves and
resources of Campbell. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date hereof. Campbell undertakes no obligation to release
publicly any revisions to these forward-looking statements to
reflect events or circumstances after the date hereof or to reflect
unanticipated events or developments. DATASOURCE: CAMPBELL
RESOURCES INC. CONTACT: Campbell Resources Inc.: Andre Fortier,
President and Chief Executive Officer, (514) 875-9037, Fax: (514)
875-9764, ; Renmark Financial Communications Inc.: Henri Perron, ;
Eric St-Pierre, , (514) 939-3989, Fax: (514) 939-3717;
http://www.renmarkfinancial.com/
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