Project Update

RNS Number : 2401Y

Obtala Resources Limited

20 December 2010

 



Obtala Resources Limited

 ("Obtala" or "the Company") (AIM:OBT)

Projects Update, Tanzania

The Board of Obtala Resources Limited, the resources investment, development and production company, today announces that further to the press release dated 7^th December 2010, the Company has not been able to reach a satisfactory conclusion in negotiations with Stamico relating to the Buckreef gold project. The Company believes it is in the best interest of its shareholders to focus on other opportunities that have recently presented themselves to Obtala. The Company is currently evaluating specific  precious metals projects in Tanzania and will inform the market of any further developments.

Contact:

Obtala Resources Limited
Simon Rollason - Managing Director Frank Scolaro - Chairman www.obtalaresources.com	[phone]
ZAI Corporate Finance Ltd
Ray Zimmerman/ Sarang Shah	[phone]
Threadneedle Communications
Laurence Read	[phone]

 

END

 

 

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