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Mining Limited
Lucky Strike Resources Ltd. is pleased to announce that after an extensive review over the past
several months, management has signed a Letter of Intent for the acquisition Changyun Coal Mine
project with Cheung Wan (Groups) Energy Development Limited.
Vancouver, Canada, August 10, 2010 --(PR.com)-- Lucky Strike Resources Ltd. (TSX.V-LKY), is
pleased to announce that after an extensive review over the past several months, management has signed
a Letter of Intent (LOI) for the acquisition Changyun Coal Mine project with Cheung Wan (Groups)
Energy Development Limited. The LOI will allow Lucky Strike the opportunity to perform further due
diligence on the Changyun Mining License and Business License with the objective of structuring a
formal commercial transaction.
Guizhou Changyun Coal Mining Limited (Changyun) is a wholly owned subsidiary of Cheung Wan
(Groups) Energy Development Limited of Hong Kong. Changyun is the only Wholly Owned Foreign
Enterprise (WOFE) that was issued a Business License in 2004 by the Guizhou Provincial Government
for the Coal Mining Operation Business. The Business License is valid for 20 years to operate coal mines
and produce coal related products for sale within Guizhou province. It also allows setting up subsidiaries
as WOFE in other provinces throughout China.
The terms of the proposed acquisition for a 60% interest is RMB 110 Million Yuan (approximately
US$16.2 Million) to be paid in 2 tranches with the first tranche for US$5.1 Million due within 6 months
of signing of the LOI and the second tranche for US$11.1 Million due within 1 year from the signing of
the LOI. Management has forwarded a US$150,000 fully refundable deposit to secure the Changyun coal
mine project for the Company. A finder's fee for the project is payable to SinoCan Coal Limited, subject
to the approval of the TSX Ventures Exchange.
Dr. Christian Derosier P.Geo. from C.D.G.C. Inc.. completed a site visit to collect information about the
project and has reviewed all technical aspects of the projects including geology, resources, and
exploration programs, mining and ore processing. Based on available information and the site inspection
he has prepared an independent technical assessment report. The positive due diligence and technical
assessment of the Changyun property provides a clear appreciation of the immediate potential of the
Changyun coal mine and the future development of the surrounding area. Please visit the corporate
website for a copy of the report link at
http://www.luckystrikeresources.com/LKY-Changyun-Report-V2.pdf
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6400 to 7200 Kcal/kg. The thermal grade coal is suitable for power plant use. A ready market for
production exists with the nearby power plants and other end users within Guizhou province.
In addition to the mine, Changyun has recently been provided with preferential rights to explore and
develop a 20 sq. km of highly prospective exploration land surrounding the mine.
On behalf of Management
Lucky Strike Resources Ltd.
“Dodge Li”
Dodge Li, CEO & Director
###
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Contact Information:
Lucky Strike Resources Ltd.
Charn Deol
604-681-8225
info@luckystrikeresources.com
www.luckystrikeresources.com
or
Patrick Brandreth
Tribeca Capital Partners Inc.
Toll Free: (866) 944-8674
e: patrick@tribecacap.com
w:www.tribecacap.com
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