09:47 AM EST - Arizona Metals Corp. : Announced that it intends to create two new companies through the spin-out of the Sugarloaf Peak Gold Project and two newly-created royalties on its Kay Mine Project. The first company, expected to be named "Sugarloaf Gold Corp.", will be transferred shares of the Company's wholly-owned subsidiary, which holds Arizona Metals' Sugarloaf Peak Gold Project. Sugarloaf has a historic estimate of 1,500,000 ounces of gold (defined in 1982). The deposit is open for expansion in all directions and recent metallurgical testing has demonstrated the potential for excellent recoveries in both oxide and sulphide mineralization. Arizona Metals Corp.
shares T.AMC are trading up $0.07 at $2.05.
