CCOB Century Cobalt Corporation (CE)

First American Silver Corp. (OTCBB: FASV) is pleased to announce that it has entered into a Licensing Agreement for rights established in a May 10, 1979 Agreement affecting a 256 square mile area on the Carlin Trend, Elko County, Nevada.

Under the terms of the May 10, 1979 Agreement, First American Silver Corp. will now be a deemed the successor of a specific Right to Participate on a fifty percent basis with ongoing and future projects operated, controlled and or conveyed by Newmont Mining and Barrick Gold Corporation within the area of interest.

Under the terms of the Licensing Agreement, First American Silver Corp. will finance the cost of pursuing the rights established in the May 10, 1979 Agreement. The distribution of any proceeds will be as follows: 100 percent of the first monies received will reimburse First American Silver Corp. for any and all out of pocket expenses, after which First American Silver Corp. will share on an 80 percent 20 percent basis with the licensor. The term of the Licensing Agreement will be for 10 years with an option for an additional ten years.

Thomas J. Menning C.E.O. said, “The location of the 256 square mile area of interest created in the May 10, 1979 Agreement is in one of the most prolific gold producing areas in the State of Nevada and for that matter the world. We are very excited about this opportunity”. To view the map associated with this release, please click on the following link: http://www.usetdas.com/maps/first%20american/firstamericanmap10062011001.jpg

A copy of the May 10, 1979 Agreement and the Licensing Agreement has been posted to the website.

Century Cobalt (CE) (USOTC:CCOB)
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Century Cobalt (CE) (USOTC:CCOB)
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