ICBS acquires 49% of Canwealth Minerals Corporation

Mar 14, 2011, 12:20 ET from Inter Canadian Business Service

NEW YORK, March 14 /PRNewswire-FirstCall/ - ICBS Ltd., (OTCPK: ICBT),)   announced that ICBS has acquired a 49% stake in the Canwealth Minerals Corporation. 

"When we saw the surface samples, we were sold. This is going to be very exciting in the coming year for our investors" said Garth McIntosh, President & CEO , ICBS Ltd."What was really interesting for us was that two large Gold mining companies, have  acquired claims surrounding the Canwealth Minerals property.

ICBS will raise the capital required to advance the mining project in Northern Quebec. Canwealth Minerals is expected to commence core drilling this coming spring. The company is also in the process of acquiring additional claims in the same region.

Canwealth Minerals Corporation is a gold and precious metal mining company which holds claims in 585 acres in northern Quebec. The company's Management team is made up of professionals with extensive exploration and production experience. The company is committed to build Canwealth Minerals Corporation into a profitable resource  by maximizing shareholder value through exploration of its high quality properties in Northern Quebec.

Canwealth Minerals Corporation significant number of drill ready targets including newly to be acquired sites.

The company's current strategic direction is, to seek out properties/claims known to have high value gold targets which will lead rapidly to the advanced exploration and development stages.

ICBS will be 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 Inter Canadian Business Service