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| | June 28, 2007
Canaf Group Inc. Announces Termination of Earn In Option
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| | Vancouver, BC--Canaf Group Inc. (TSXV: CAF) announced today that it has dropped its option agreement on the Win Claims Group in Bowser Alaska (see press release dated November 29, 2006).
"This is an exciting time for Canaf," stated David Way, president and CEO. "With the restructuring of our company, we are now ready to focus on our diverse and valuable properties in Africa. The Alaska claims do not fit into our new mandate, and so we have decided not to pursue this option."
In conjunction with this refocus, Barry Murray will no longer maintain his position as the Public Relations Manager and his options will expire within 90 days.
Canaf Group is currently focused on developing a portfolio of high interest properties in Africa through strategic acquisitions. Recently the company purchased an 85 percent interest in Quantum Screening and Crushing Limited, a private South African company that processes coal products into carbon for use during the manufacturing of steel and manganese. Quantum has been profitably operating for more than three years. Canaf has also entered into Letters of Intent for a number of gold and diamond concessions in Zimbabwe--including Indamara which has an operating 120-man, 600 tpd tailings leach plant.
David Way, President and CEO
Head Office
Brad Jefferson
T: 604.767.3977
F: 604.682.2275
Investor Relations
Bryson Goodwin
Ascenta Capital Partners Inc.
T: 604.684.4743 ext. 239
TF: 1.866.684.4209
F: 1604.939.1292
E: bryson@ascentacapital.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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| | You can view the Next News Releases item: Thu Jul 12, 2007, Canaf Group Inc.: Resignation of Director
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