| By Marketwire . |
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| November 26, 2012 08:17 AM EST |
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VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/26/12 -- Southern Arc Minerals (TSX VENTURE:SA)(OTCQX:SOACF) ("Southern Arc" or "the Company") today announced that the Company's Board of Directors, while pleased with the issuance of a Pinjam Pakai permit for the West Lombok property, has decided to conduct a strategic review of all of the Company's properties in Indonesia.
The Company has delayed the previously announced drilling program on the West Lombok property, pending completion of this review. The Company anticipates providing an update to shareholders by December 14.
Southern Arc held its annual general meeting on Friday, November 23. Shareholders approved all matters put before them at the meeting and elected Messrs. John G. Proust, Michael J. Andrews, David M. R. Stone, Robert J. Gallagher and Mohammed Al-Shahwani to the Board of Directors.
The Company also announced that Hamish Campbell did not stand for election to the Company's Board of Directors. "Hamish Campbell has played an integral role in the Company's development," said John Proust, Chairman and Chief Executive Officer of Southern Arc. "We wish him the best with his future endeavors."
On behalf of the Board of Southern Arc Minerals Inc.
John Proust, Chairman & Chief Executive Officer
About Southern Arc
Southern Arc Minerals Inc. is a Canadian mineral exploration company focused on gold and copper-gold exploration. The Company's portfolio includes four exploration projects with epithermal gold and copper-gold porphyry prospects on the Lombok and Sumbawa islands in Indonesia, one of which is being advanced in partnership with Vale S.A. The Company's key exploration property is its West Lombok project, with several gold-rich copper porphyry and epithermal gold vein prospects. Southern Arc is listed on the TSX Venture Exchange under the symbol SA and on the OTCQX International under the symbol SOACF. More information is available at www.southernarcminerals.com or by emailing info@southernarcminerals.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as such 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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