Dhanoa Minerals Ltd. (OTCBB: DHNA)(FRANKFURT: D7Z) announced today that the Company has returned 4,600,000 shares of its common stock to the treasury for cancellation. These shares were voluntarily returned by Mr. Balwant Grewal in connection with his resignation from the Company as President and a Director on October 10, 2006. The Company is very appreciative of Mr. Grewal's significant contribution to its formation and planning.
As a result of the cancellation of 4,600,000 shares, Dhanoa Minerals Ltd.("Dhanoa") currently has 45,300,000 common shares issued and outstanding.
Also, in a private transaction, Mr. Paul Roberts, Dhanoa's CEO and President acquired 250,000 shares of the Company's common stock.
About Dhanoa Minerals Ltd.
Dhanoa Minerals Ltd.is an exploration stage company formed for the purpose of acquiring, exploring, and if warranted and feasible, developing natural resource properties. Activities during the exploration stage include further development of the Company's business plan and raising capital. The Company has recently initiated a new program to evaluate undervalued assets for potential addition to its mineral claim portfolio.
Forward Looking Statements
Statements contained in this news release that are not historical facts are forward looking statements that involve risks and uncertainties. Actual results may differ materially from any forward looking statements due to many risk factors which include, but are not limited to, no operating history and no earnings, reliance on the Company's management team, the ability to successfully implement the Company's business plan, the ability to fund the Company's business strategy, competition and general economic conditions. Reference is made to our filings made with the United States Securities and Exchange Commission.
This news release is not intended for Canadian Investors.
Dhanoa Minerals Ltd.
Corporate Head Quarters
(416) 742-6579 (FAX)