CRONUS RESOURCES **Trading Halt in CAN*** Startschuss heute mit NEWS!!!! - 500 Beiträge pro Seite

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Cronus Resources Inc.
The Exchange Tower
130 King St. W., Ste 2500
Toronto, ON M5X 1A9
T 416.643.7655
F 416.643.3890

Contact: Elina Chow, Investor Relations
Email: [e-mail]
Web: www.cronusresources.com






Stock Exchanges: TSX Venture Exchange (TSX-V - Tier two)
Stock Symbol: CZR
Germany: Frankfurt WKN: A0NG0E / Symbol: LL1A / ISIN: CA2271771024
Net Shares Outstanding: 12,601,274 million
Market Cap: $7,810,370
Twelve Month Share Price Range: $0.05 C. / $0.62 C.






Management:

Ari Sussman, President. Director and CEO

Ari Sussman has dedicated the bulk of his career to the natural resources industry. In 2000, Ari co-founded Titanium Corporation Inc. and spear-headed its business strategy to develop technology to extract titanium and zircon from the tailing of the open-pit oil sands producers in Canada. The Company grew from inception to a valuation of over $100 million in 5 years and raised over $50 million in that time frame. In 2006, Mr. Sussman co-founded Colossus Minerals Inc, a Brazilian focused precious metals company which successfully negotiated and is currently developing the famous Serra Pelada high grade gold-platinum and palladium project. The Company debuted on the Toronto Stock Exchange in February 2008 by completing a $25 million IPO.

John Ross, Chief Financial Officer, MBA, CA

John Ross has over 20 years experience in business, much of which was spent in the mining industry. John has a vast array of experience and knowledge of mining practices. Currently, Mr. Ross serves as the CFO for Colossus Minerals Inc. Previously, Mr. Ross served as the CFO for FNX Mining and was instrumental as the Company transitioned from an exploration to a development company with a market cap of over $500 million. In prior years, Mr. Ross was the CFO for Iamgold Corporation and worked for Rio Algom Limited.


Augusto Kishida, PhD Geologist

Dr. Kishida has over 35 years experience in the mining industry with a primary focus in Brazil. He has held many high level positions within various Brazilian companies including General Manager Brazil for International Brazilian Goldfields, Principal Geologist for Mount Isa Mines Limited, General Manager Brazil for Consolidated Madison Holdings and - various positions within Vale (CVRD), which is the largest mining company in Brazil. He is currently the VP of Exploration for Colossus Minerals Inc.

Dr. Kishida holds a BSc. in Geology from the Federal University of Rio de Janeiro, Brazil, an MSc. in Economic Geology from Federal University of Bahia, Brazil and a PhD in Geology from the University of Western Ontario, Canada. He is a lead in modern day understanding of Archean Greenstone Belts and associated mineral deposits. As well, he has published a number of important papers, including 3 major articles on economic geology.

As an exploration geologist, he has been actively involved in many important discoveries in leadership capacities. Highlights include the discovery of the Fazenda Brasileiro gold deposit currently being mined by Yamana Gold Inc and the Catalao phosphate deposit being mined indirectly by majority owner Anglo American PLC.

Steve Flechner, Chairman

Steve Flechner brings 30 years of mining industry experience to Cronus. He is the former Vice President/General Counsel of Gold Fields Mining Corporation. In that position, he established and directed land, legal and environmental functions in order to acquire, permit, finance and develop two world-class mining operations producing over 400,000 ounces of gold/year and grossing over $160 million annually (which were later acquired by Newmont Mining). Subsequently, he has served as a senior officer, director and/or counsel of several publicly traded, junior mineral and energy companies with properties around the globe. He has done project acquisitions and joint ventures in over a dozen countries, including Latin America. Mr Flechner holds a doctorate in law from Yale University and has finance, M&A, securities and corporate law experience with New York Stock Exchange-listed international companies.

Vic Wall, PhD geologist, (qualified person under NI 43-101), Director

Vic Wall brings to the Cronus team a wealth of expertise and experience in the generation, acquisition and evaluation of precious, base metal and energy mineral projects. Dr. Wall is a geologist with 35 years in the minerals mining, exploration, consulting and research industries. Following a career in Australian and North American academe, he held senior positions in multinational major and junior minerals companies, including being the former Chief Geologist of Mount Isna Mines, Australia. At present, Dr. Wall is the President of Colossus Minerals, a Brazilian focused company that successfully negotiated and is currently developing the famous Serra Pelada high grade gold-platinum-palladium project. A Fellow of the Australian Institute of Geoscientists, Dr. Wall is Principal of Taylor Wall & Associates, a Brisbane-based consultancy which provides geoscientific services to mineral companies and government agencies, worldwide. Professional highlights include the targeting and acquisition of gold and base metal deposits on several continents, developing new models for precious, base metal and energy mineral systems and winning the Goldcorp Challenge in 2001.

PROJECTS

The San Juan property lies approximately 450 km southeast of Ensenada and 26 km south-southwest of the fishing and tourist community of Bahia de los Angeles. The historic cultural centre of the Jesuit Misión San Borja, established in 1762, is located 15 km to the west of the property and served as a focus for the early exploration; many of the artesanal workings in the area date from that time.

The San Juan mine at the centre of the property operated until 1911. The main deposit was worked on eleven levels; numerous shallow adits and exploration shafts are located peripheral to the main mine. Mexican government documentation indicates that 24,611 tons grading 3.22 g/T Au and 364.47 g/T Ag were mined; mine openings examined during the site visit suggest that the recovered tonnage might be significantly greater.

The property is underlain by intrusive and metamorphic basement rocks of Cretaceous age. These are overlain in the west of the property by a Tertiary sequence of volcanic rocks. Mineral occurrences discovered to date on the property are all hosted by the Cretaceous assemblage. Mina San Juan and a large alteration zone in the northern part of the property are hosted by a biotite ± hornblende granite with K-feldspar megacrystic phases. The granite is cut by a west-northwest trending, altered fracture set. Undeformed, fine-grained felsic dykes, also with rare K-feldspar megacrysts, intrude the main San Juan Granite along this structural strike. The dykes contain disseminated pyrite and arsenopyrite and are interpreted as being roughly contemporaneous with mineralization.

The mineralization throughout this large property is remarkably similar in style. It comprises shear-hosted quartz veins or breccias with or without the sulphide minerals pyrite, arsenopyrite, galena and sphalerite and (very minor) chalcopyrite. Even bull quartz veins contain elevated levels of silver, arsenic, lead and zinc and, at several locations sampled, antimony and bismuth values are erratic but also elevated.

Every chip sample taken from vein material on the San Juan property has returned a value of greater than 1 gm/t gold; the median value is roughly 4 gm/t. These results are consistent with and on a larger scale than previous observations. The mineralising event is interpreted as intrusion-related, with the geochemical style resembling a gold-bearing porphyry system, associated with a quartz-rich peraluminous granite. Some of this gold-bearing mineralization has been concentrated along fractures as vein deposits such as that at Mina San Juan.

The mineralising system for these deposits was large. The intrusive and metamorphic assemblage mineralised by this event effectively underlies most of the property and probably extends beneath the Cainozoic cover to the west. Little of this ground has been explored beyond prospecting and none of this exploration is recent. The property hosted a commercially producing mine.



Company Profile

Cronus Resources Ltd. is a publicly traded exploration company guided by an experienced management team with proven track records of financial, business and technical success. With a focus on the acquisition, exploration and development of mineral projects in Latin America, the Company has consolidated a large land package surrounding the historical high-grade San Juan Gold/Silver Mine in Baja, Mexico.


Investment Highlights


- Aggressive management team with strong contacts into Latin America, with a focus on Mexico.

- Unique team of individuals with proven track in current commodity cycle including:
Colossus Minerals Inc.
Mega Uranium Ltd.
Pinetree Capital Ltd.
Titanium Corporation Ltd.

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http://www.stockhouse.com/News/CanadianReleasesDetail.aspx?n…


Cronus Resources halted at 8:09 a.m. PT


2009-10-08 11:11 ET - Halt Trading

Investment Industry Regulatory Organization of Canada - Trading Halt - Cronus Res Ltd. - CZRCronus Resources Inc CZR 10/8/2009 11:16:00 AMVANCOUVER, Oct. 8, 2009 (Canada NewsWire via COMTEX News Network) --
The following issues have been halted by Investment Industry Regulatory Organization of Canada (IIROC):

<< Issuer Name: Cronus Res Ltd. TSX-V Ticker Symbol: CZR Time of Halt: 11:09 ET Reason for Halt: Company Request Pending News >>

SOURCE: Investment Industry Regulatory Organization of Canada (IIROC)

SOURCE: Investment Industry Regulatory Organization of Canada (IIROC) - Halts/Resumptions

contact - IIROC Inquiries [phone] - * Please note that IIROC is not able to provide any additional information regarding a specific trading halt. Information is limited to general enquiries only.

Copyright (C) 2009 CNW Group. All rights reserved.

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Cronus Resources kommt heut mit Hammer-News...


http://finance.yahoo.com/news/Cronus-Resources-Ltd-ccn-22015…

Cronus Resources Ltd. Announces Reverse Take-Over

Press Release
Source: Cronus Resources Ltd.
On 9:00 am EDT, Friday October 9, 2009


TORONTO, ONTARIO--(Marketwire - Oct. 9, 2009) - Cronus Resources Ltd. ("Cronus") (TSX VENTURE:CZR - News) is pleased to announce that it has entered into an amended and restated letter of intent dated October 9, 2009 with Continental Gold Limited ("Continental"), an arm's length Bermuda based gold exploration company with a portfolio of properties in Colombia, pursuant to which Cronus (or a subsidiary thereof) will amalgamate with Continental to further develop the properties of Cronus and Continental. It is proposed that Shareholders of Continental will receive common shares in the capital of either the amalgamated entity or Cronus (depending on the final structure of the transaction) (the "Resulting Issuer") in exchange for their shares of Continental, such that the current shareholders of Cronus will own approximately 13% of the outstanding shares of the Resulting Issuer and shareholders of Continental will own the remaining 87%. This transaction is based on a deemed valuation of the Resulting Issuer of C$75 million at a price of C$1.50 per share post amalgamation and following a proposed two to one share consolidation. The holders of convertible securities of Cronus and Continental will receive equivalent securities in the Resulting Issuer adjusted, as required, to account for the changes to the share capital resulting from the transaction.

Continental is a privately held, Bermuda-based, gold exploration company formed in May 2007 that has seven 100% owned gold exploration projects on over 100,000 hectares of exploration concessions in some of the most prospective gold districts in Colombia, South America.

Continental's flagship project is Buritica in the Antioquia Department, a 2.5 hour drive from Medellin. Infrastructure is excellent with paved roads, water and power readily available. Exploration began on Buritica in late 2007 and since that time Continental has completed surface and underground mapping and sampling; geophysical studies (magnetics and IP) and 14,000 metres of diamond drilling resulting in several important high grade discoveries including the San Antonio Vein and the Veta Sur bulk tonnage vein swarm.

The Buritica district is underlain by an allochthonous sequence of flysche type sediments, which are cut by tonalitic intrusions and overlain by a mafic volcanic complex. The Tertiary age Buritica sequence of high level intermediate composition intrusions is affected by propylitic through potassic alteration. A late-stage diatreme breccia cuts the higher temperature phases and is characterized by sericitization and intermediate argillic alteration. Gold mineralization is present in several geological settings including replacements at intrusive contacts, disseminations in the breccia pipe bodies and in a series of bonanza grade veins. It is characterized by pyrite-sphalerite with lesser galena and is associated with late, sericitic alteration.

Other properties within the Continental portfolio include two active joint-ventures with AngloGold Ashanti Limited and a group of concessions named Santander, totaling over 5,000 hectares located in the immediate vicinity of Ventana Gold Corps La Bodega project and Greystar Resources Ltds Angostura project.

Continental's technical team collectively has over 40 years of Colombia-specific exploration and mine development experience.

Completion of the transaction is conditional upon, among other things, receipt of all required regulatory and shareholder approvals, the negotiation and execution of definitive documentation and the completion of a financing to raise gross proceeds of at least C$10 million. Terms of this financing have not yet been determined.

If requested by Continental, a convertible loan of between C$2 million and C$3 million will be made available to Continental by a third party lender within 30 days of the date Cronus and Continental enter into definitive documentation in respect of the transaction. The loan would bear interest at an annual rate of prime plus 2% calculated and payable monthly. Such loan would automatically convert on closing of the transaction between Continental and Cronus into units ("Units") of the Resulting Issuer at a deemed price to be determined in the context of the market by Cronus, Continental and the lender. Each Unit will consist of one common share of the Resulting Issuer and one common share purchase warrant (a "Warrant") of the Resulting Issuer. The terms of the Warrant will be determined in the context of the market by Cronus, Continental and the lender.

It is anticipated that Ari Sussman will remain the Chief Executive Officer of the Resulting Issuer and a member of the board of directors. The Resulting Isssuer will have a board of directors comprised of seven members. In addition to Mr. Sussman, one member will be a nominee of Cronus. Continental will choose two nominees, and the remaining three nominees will be jointly agreed upon.

Completion of the transaction is subject to a number of conditions, including Exchange acceptance and disinterested Shareholder approval. The transaction cannot close until the required Shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular to be prepared in connection with the transaction, any information released or received with respect to the reverse take-over may not be accurate or complete and should not be relied upon. Trading in the securities of Cronus should be considered highly speculative.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Continental's Vice President of Exploration, Stuart Moller, P.Geo., is a "qualified person" under National Instrument 43-101 and has reviewed the technical information contained in this press release.

About Cronus:

Cronus Resources Ltd. is a publicly traded exploration company guided by an experienced management team with proven track records of financial, business and technical success. With a focus on the acquisition, exploration and development of mineral projects in Latin America, the Company has consolidated a large land package surrounding the historical high-grade San Juan Mine in Baja, Mexico.

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 release.

Contact:
Elina ChowCronus Resources Ltd.Public Relations Manager(416) [e-mail]

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Continental scheint wirklich ein super team zu haben...



Continental Gold has assembled a highly experienced international management team, which includes over 40 years of combined experience in Colombia.

Robert W. Allen
President, CEO and Chairman: Involved in the identification, financing and development of oil, gas, coal and mineral properties in the US and South America for over 30 years. Responsible for the development of Continental’s project portfolio, property acquisitions and third-party joint ventures.

Stuart Moller
MSc P. Geol, Vice President Exploration: 30 years of international experience in exploration for precious metals, including 15 in Latin America including nine years as Vice-President of Exploration for Pan American Silver Corp where he helped the company grow from one mining operation to six.

Dr Peter Bolt
BSc, PhD, Vice President Operations: 25 years of mining industry experience, including 10 years with international mining consultants SRK (UK) Ltd, and 5 years as Director of Cambridge Mineral Resources plc where he established and managed its Colombian operations from 2005-2007.

Donald Christie
Bcomm, Chief Financial Officer: A Chartered Accountant and co-founder of Ollerhead Christie & Company Ltd., a privately-held Toronto investment banking firm. Served as Vice President and Director of Newcourt Capital Inc. where he was involved in over $1.5 billion of transactions.

Gustavo Koch
MA, COO and General Counsel: Managed the legal aspects of Continental’s portfolio in Colombia for the past 13 years, and recently became operating manager. In-depth knowledge and experience with Colombian mining legislation and legal system.

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9 January 2009

Continental Gold starts Buritica vein production

Medellin 9 January 2009

Continental Gold, a junior exploration company with projects in Colombia, has begun pilot-scale production from a high grade vein at Buriticá, Antioquia that was intercepted during exploration drilling in mid 2008. The San Antonio vein has returned grades of up to 949 g/t Au over a 1.43 metre width in channel sampling. A crosscut developed from an existing small-scale mine intercepted the vein allowing pilot-scale production to begin.

Pilot-scale production is being increased from an initial 20 tpd to 40 tpd by expanding the existing processing plant. Production from the San Antonio Vein in the last quarter of 2008 showed ROM grades of up to 70g/t gold. “At these grades, we should be able to produce annualized production 25,000 oz Au,” said Peter Bolt, Vice President of Operations. There are no defined mineral resources or reserves for the Buriticá project. Production commenced without the support of a formal feasibility study. Without a formal and independent feasibility study there is no assurance that the operation will be profitable.

Cash-flow generated from the San Antonio Vein is being allocated to corporate expenses and ongoing exploration expenses.

The San Antonio Vein and two other potentially significant targets at Buriticá will be further drill tested in 2009. Two holes in the Veta Sur average 20 metre true thicknesses at 11 g/t Au and the zone is open in all directions. The Yaragua breccia pipe is a large body with potential for bulk tonnage, low grade gold-zinc mineralization. Drill programme data will be used to produce a NI 43-101 compliant resource estimate for Buriticá in early 2009. “Preliminary metallurgical tests on the vein and breccia ores, and past experience in the plant, indicate that gold recoveries of over 90% are probable, with significant free-milling gold,” says Stuart Moller, Vice President of Exploration.

Buriticá is Continental Gold’s flagship project located in a pre-Colombian gold district two hours from Medellin on paved road. The San Antonio Vein, Veta Sur and the Yaragua breccia pipe were all new discoveries made by the company during an 8000-metre drill programme in 2008. Numerous additional targets have been outlined by mapping and geophysics, and many of these will be drilled in 2009.

Continental Gold is a privately held gold exploration company whose focus is on exploration for bulk-tonnage and company-sustaining high-grade production in Colombia, with a primary focus in Antioquia department. The company has projects in several historical gold districts in addition to discoveries in unexploited and unexplored sectors, and two joint-ventures with gold major AngloGold Ashanti.

“It is the depth of this portfolio that sets Continental Gold apart from most junior exploration companies as we feel that several of these could provide additional near-term discoveries that will significantly add to the company’s value,” says Stuart Moller, vice president of exploration.

Continental Gold aims to become a significant gold producer in Colombia in the medium term.

Continental Gold's Vice President Exploration, Stuart Moller P.Geo, is a 'qualified person' under National Instrument 43-101 and has revised the technical information contained herein.

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http://www.google.com/hostednews/canadianpress/article/ALeqM…



Cronus Resources Ltd. announces reverse take-over with Continental Gold
(CP) – 6 hours ago

TORONTO — Bermuda's Continental Gold Ltd. is to acquire Canadian junior mineral explorer Cronus Resources Ltd. (TSXV:CZR) through a reverse take-over, the Toronto-based company announced Friday.

Cronus shareholders will own a 13 per cent stake in the amalgamated company after the all-stock deal, which is valued at $75 million.

Those holding convertible securities of Cronus and Continental will get equivalent securities in the amalgamated company adjusted to account for changes to share capital.

The transaction still needs regulatory and shareholder approvals and the completion of a financing to raise gross proceeds of at least $10 million.

The terms of the financing have not yet been determined.

If requested by Continental, a convertible loan of between $2 million and $3 million will be made available by a third party lender. The loan would automatically convert to units of the amalgamated company on closing.

Each unit would consist of one common share and one common share purchase warrant of the new company.

Cronus is a mineral exploration company focused on projects in Latin America. It has a large land package surrounding the San Juan Mine in Baja, Mexico.

Continental is a private gold exploration company with seven projects in Colombia. It's flagship project is Buritica in the Antioquia department.

Copyright © 2009 The Canadian Press. All rights reserved.

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Continental Cold Ltd (Continental)) is a Bermuda-based, privately held gold exploration company that really is The Colombia Play. It has a unique portfolio of nine properties in some of the most prospective gold districts in Colombia and has developed one of the best technical teams in the country. This team, which totals over 80 years of international and Colombia-specific exploration experience, is creating shareholder value through the discovery of golddeposits with potential for large, bulk tonnage mining operations.

Our focus is Colombia, historically one of the world’s largest gold producers at over 80 million oz recorded. However, the country has not experienced the wave of goldexploration which began in the rest of South America in the 1980’s, which means it has a significant amount of un-tapped exploration potential for gold, platinum and base metals.

Colombia has a progressive government that encourages foreign investment, with a particular emphasis on mining. Administration of the sector has been modernized to make it more attractive to exploration companies, including a revision of the mining law in 2001 to make it one of the most competitive in the region.

Colombia already has world class mining operations in the coal and nickel sectors and its geological potential is attracting many leading names in the gold sector such as AngloGold Ashanti, Barrick Gold, Goldfields, Kinross, Buenaventura, Newmont Mining, Vale and Yamana Gold in addition to a host of junior exploration companies. The arrival of modern exploration techniques has resulted in the discovery and definition of four large gold deposits in recent years - Angostura, Marmato, La Colosa and Gramalote - which together host over 20 million oz of gold resources.


Continental Cold Highlights

Colombia focus with land positions in highly prospective gold areas

Three projects with good potential for bulk tonnage gold operations

Strong management team with over 40 years Colombian experience and 80 years Latin American experience

Share project risk through joint ventures to expose shareholders to multiple gold exploration projects while preserving shareholder funds

Two joint ventures with AngloGold Ashanti