As previously announced Oceanus Resources Corporation (TSXV: OCN) has signed a binding letter of intent to acquire all of the issued and outstanding securities of Lunar Gold Holdings Incorporated, a Canadian company, by way of security exchange.

Lunar Gold Holdings' and Lunar Gold Holdings' wholly owned Canadian subsidiary, LGHI Holdings Incorporated, together own 100% of Minera Pueblo de ORO SA DE CV, a Mexican company. Minera Pueblo de ORO SA DE CV is a party to agreements to earn a 100-per-cent interest in twelve Mexican mining concession titles, collectively known as the La Lajita property covering approximately 3,218 hectares in Durango, Mexico.

The transaction is subject to TSX Venture Exchange and other regulatory approvals. As well, closing is subject to a geological report compliant with National Instrument 43-101 being approved by the Exchange and other customary approvals for transactions of this type. Oceanus has submitted the Technical Report to the Exchange for review.