| ||Mon May 25, 2009|
Strongbow To Increase Working Capital
| ||Strongbow Exploration Inc. (SBW: TSXV) is pleased to announce it has received, from the Canada Revenue Agency, Notices of Assessment for the tax years ending January 31 2005, 2006, 2007 and 2008. The notices indicate that the CRA is sending to the Company, cheques in the aggregate amount of approximately $756,000. This refund is composed primarily of previous tax overpayments, British Columbia Mineral Exploration Tax Credits and accrued interest. The latter two items make up most of the refund amount (approximately $571,000) and were not included as accounts receivable on the Company's recently filed Annual Audited Financial Statements. |
These tax refunds will be used by the Company for administrative purposes, as well as to help fund the Company's metallurgical test program on the Nickel King Main Zone deposit and to advance the Company's gold and copper exploration properties in central and south central British Columbia. Previously announced metallurgical testwork on the Nickel King Main Zone deposit is on schedule to be completed by July 2009. Initial 2009 field work at Strongbow's gold properties in the Spences Bridge gold belt and the Inza porphyry copper-gold target in the Fort St. James area of the Quesnel Trough is scheduled to commence within the next two weeks. Strongbow's exploration programs are conducted under the supervision of David Gale, P.Geo. (BC), Vice-President of Exploration for Strongbow and a Qualified Person within the meaning of National Instrument 43-101.
STRONGBOW EXPLORATION INC.
/s/"Kenneth A. Armstrong"
Kenneth A. Armstrong
President and CEO
For further information, please contact:
President and CEO
Tel: 604 668 8355
The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy of this release.
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