Company Closes on Option to Acquire
Workman Creek Uranium Deposit
September 5, 2006
Vancouver, British Columbia …. Rodinia Minerals Inc. (“Rodinia” or the “Company”) is pleased to announce that it has closed on the letter agreement (the “Agreement”) between the Company and Cooper Minerals, Inc. (“Cooper”), a Nevada based company, to acquire an option on a 100% interest in the Workman Creek uranium deposit located in Gila County, Arizona. The Agreement, which was announced by press released dated November 5, 2004, was subject to the Company graduating to Tier 1, which occurred on June 14, 2006, and certain regulatory approval, the last of such approval being obtained on July 14, 2006. The Agreement provides that Rodinia can acquire a 100% interest, subject to a 3% Yellowcake royalty, in 33 unpatented mining claims by paying $135,000 (paid), issuing 2.5 million of its shares (the “Shares”) (issued), issuing non-transferable share purchase warrants (the “Warrants”) (issued) entitling the purchase of up to 1.5 million of its shares for five years, and expending US$2,000,000 on exploration over the next 4 years.
The Warrants are exercisable for a period five years to July 18, 2011 at an exercise price of $0.74 per share. The Shares and Warrants are subject to a hold period expiring November 19, 2006.
Rodinia is a junior resource company that intends to respond to opportunities in uranium exploration and development in the United States.
ON BEHALF OF THE BOARD
Rodinia Minerals Inc.
(sgd.) “Donald Morrison”, President
For further information contact:
Don Mosher, Director
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. In addition, this release is not for distribution to U. S. newswire services or for dissemination in the United States.