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UPDATE: Lions Gate Metals Returning Project To Firesteel Resources; FTR Edges Up

Lions Gate Metals Inc. (LGM.V), which is near year lows, announced that it is returning the ROK Coyote project to Firesteel Resources Inc. (FTR.V), which is slightly higher today but still near year lows. Lions Gate also announced the appointment of Sharon Muzzin, CA, as Chief Financial Officer, replacing David McAdam who has resigned from the position.

Lions Gate said it has made a number of offers to Firesteel to acquire a 100% interest in the Project. However these offers have been rejected. "It is therefore with regret that the company has chosen to return the Project to Firesteel, in good standing, ahead of the next payment due under the January 2011 option agreement."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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