VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan 21, 2013) - Shamrock Enterprises Inc. (CNSX:SRS) (the "Company") is pleased to announce that it has successfully negotiated an extension to its property option agreement with Regulus Resources Inc., (merged with Pachamama Resources Ltd.), a TSX Venture Exchange listed junior public company (the "Optionor") in regard of the Fireweed property located in the Babine Lake Area, Smithers B.C., Omineca Mining Division (the "Property").
Pursuant to the terms of the amendment reached between the Company and the Optionor, the Company amended the option (the "Option") granted pursuant to the letter of understanding dated February 17, 2010 between the Company and the Optionor (the "LOU") granting the Company the right to acquire up to a 70% interest in the Property subject to a capped 2% net smelter return royalty in favour of Terry Lewis Eldridge. Subject to all regulatory approvals, in consideration of the additional payment of 100,000 common shares, the Amendment Agreement provides that the cash payment and accompanying work commitment originally due on or before February 17, 2013 shall now be due on or before February 17, 2014. Similarly, the cash payment and accompanying work commitment originally due on or before February 17, 2014 will now be due on or before February 17, 2015.
About Shamrock: Shamrock Enterprises Inc. is a Canadian-based junior mining exploration company focused on the procurement, exploration and development of silver and other precious metal properties in North America. The Company''s common shares are listed and posted for trading on the Canadian National Stock Exchange ("CNSX") under the symbol "SRS". On November 5, 2012 the Company received conditional listing from the TSX Venture Exchange.
On behalf of the Board,
Gordon Osinchuk, President