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| August 24, 2009 Commencement of Field Work on the Chubb Lithium Property and Appointment of New Director | |
| Vancouver, BC, Canada -- August 24, 2009 Mineral Hill Industries Ltd. (the "Company" or "MHI") is pleased to announce that, further to its news releases on May 12, 2009 and August 17, 2009 with respect to its acquisition of two lithium properties, the Company has commenced the first phase of fieldwork program on the "Chubb Lithium Property" located in the northwestern part of Québec approximately 32 kilometres northwest of the mining town of Val d'Or. The property is well located with respect to access roads and transportation. The historical exploration back in 1955-1956 on the Chubb Lithium Property has demonstrated the possibility of high grad-lithium mineralization and that the property indicated an ideal geological environment for hosting large tonnage lithium deposits with multiple target areas of lithium mineralization. The boundaries of the mineralized target areas are not completely defined. The historical surface sampling, trenching and limited drilling completed on the property are pre NI 43-101. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources, and therefore the issuer is not treating the historical estimate as current mineral resources and the historical estimate should not be relied upon. MHI is also pleased to announce that Mr. John Punzo has been appointed to its Board of Directors. Mr. Punzo, based in British Columbia, has over twenty five years of corporate leadership experience in the energy and finance sectors. He is a successful entrepreneur and businessman and has played a key role in raising significant capital for ventures in these sectors including publicly trading small cap companies. His experience includes owning and operating companies as well as providing merger and acquisition and turn-around advisory services to start-up businesses. Mr. Punzo has served as a Consultant, Advisor, President, Chief Executive Officer, Director, and Chairman of the Board in his various roles in a wide range of geographical areas. With Mr. Punzo's appointment to the Board and his leadership participation, MHI is geared towards its strategy of focusing on its new exploration projects. The Company regrets that Mr. Hans Schwabl, who has been the Company's Director at different stages for many years, is retiring from the Board of Directors but has kindly agreed to continue to be a member of the Advisory Committee of the Company. The Company wishes to record its appreciation to Mr. Schwabl for his ongoing support. For further information, please contact: Dieter Peter Chairman & CEO Telephone: (604) 685-4170 Pamela Keck Investor Relations Co-ordinator Telephone (direct): (604) 630-6792 Neither the 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. | |
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