Velocity Minerals Ltd. Announces Regulatory Filing Acceptance of Option of Potential Banded Iron Gold Prospect

03.06.2010  |  Marketwired

VANCOUVER, BRITISH COLUMBIA -- (Marketwire - June 3, 2010) - Velocity Minerals Ltd. (TSX: VLC) is pleased to announce that the TSX has accepted for filing notice of the previously announced (April 13, 2010 news release) option to acquire a potential banded iron gold prospect (approx. 8,803.91 hectares) in the historic Osoyoos Mining Division in south central B.C. The Company has issued the initial tranche of shares (50,000) and made the initial payment ($10000) pursuant to the option. In addition, Company personnel have started work on the property.

Velocity Minerals Ltd. is a public company dedicated to the acquisition, exploration and development of molybdenum and other mineral resources. In addition to the Company's two Cassiar, B.C. area properties, several other opportunities in the mining industry in North America and elsewhere are actively being pursued.


On behalf of the Board of Directors,

Kenneth R. Holmes
Chairman



The TSX has neither approved nor disapproved of the information contained herein.



For more information, please contact

Velocity Minerals Ltd.
Jeremy Yaseniuk
Investor Relations
(604) 689-7411 or Toll Free: (866) 920-0567
info@velocityminerals.com
www.velocityminerals.com