Canwealth Minerals Corporation's Shadow Mountain property hits positive for Gold

NEW YORK AND MONTREAL, Aug. 8, 2011 /PRNewswire/ - Canwealth Minerals Corporation and partner ICBS Ltd., (OTCPK: ICBT),) announced today that additional samples taken from its Shadow Mountain property in South Western Quebec in a highly favourable VMS (Volcanogenic Massive Sulphide) type mineral deposit, has received positive results from AGAT Laboratories assay office for Gold , Lanthanum, (REE), Cerium,(REE), Rubidium, Strontium, and Thrium (REE-Rare Earth Elements) . Surface samples taken have shown above average assay results.

" As a result of this latest assay , Shadow Mountain will be one of the prime target for core sample drilling this month", said Kelly Taylor President of Canwealth Minerals Corporation.

While the preliminary samples are from the surface, this has confirmed that core drilling is indicated as the next step to exploration of the site.

The company recently received its new drilling equipment and is expected to commence operations within the next ten days.  The company has also purchased additional rolling stock and other equipment necessary to the drilling operation. Once competed the core samples will be sent to AGAT Laboratories for assay. The results are expected by September.

"We are very excited about the whole Shadow Mountain project", said Garth McIntosh, President & CEO of ICBS Ltd. "Not only have the overall assay from this area  shown positive for Gold, and Platinum, but also, Silver, Nickel,  and REE ( Rare Earth Elements )

The Shadow Mountain project is comprised of 88 claim cells totaling  13047 acres. The 88 claim cells are located well within a VMS ( Volcanogenic massive sulphide ) zone of the Grenville orogeny. This geological formation is considered a highly favorable site for exploration for gold, silver, copper, nickel, PGE ( platinum group elements ) and REE ( rare earth elements ).

Canwealth Minerals Corporation is a gold and precious metal mining company has registered claims with the Minister of Natural Resources in Quebec.

The company's current strategic direction is to seek out properties or claims known to have highly favourable mineralized targets which will lead rapidly to the advanced exploration and development stages.

ICBS is providing management and  project funding.

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