La Quinta Announces Share for Debt
LA QUINTA RESOURCES CORPORATION 1201-1111 West Hastings St.
Vancouver, B.C. V6E 2J3 LAQ: TSX-V SEC 12G file#82-35061 No.10-02 NEWS RELEASE January 29, 2010
La Quinta Announces Share for Debt
La Quinta Resources Corporation (TSXV: LAQ, the "Company") reports that subject to regulatory approval, it has agreed to enter into a debt settlement agreement with Technologies EarthMetrix Inc. for services rendered. The Company will pay Technologies EarthMetrix Inc. $25,000.00 in cash and issue 150,000 shares at a deemed price of $0.10 per share in full discharge and complete settlement of its indebtness to Technologies EarthMetrix Inc.
La Quinta is a junior exploration company actively seeking mineral opportunities for the benefit of all our stakeholders. Currently the Company is focused on exploring for gold on its Easter Project in Nevada. The Easter Project is underlain by a quartz-adularia vein stockwork system within Tertiary volcanic rocks of the Caliente Caldron Complex of southeastern Nevada. Numerous drill programs were conducted over the past 27 years by several operators and 109 holes outlined an area of gold mineralization with a strike length of at least 6,450 feet and widths up to 90 feet. Significant prior intercepts include up to 0.194 oz. Au / ton over 90 feet (including 0.549 oz. Au / ton over 15 feet) and 0.084 oz. / ton over 110 feet (including 0.534 oz. Au / ton over 5 feet).
Homestake Mining JV partner World Wide Minerals reported (June 20, 1994) a near surface historic resource of 3.35 million tons grading 0.065 ounces per ton gold (218,000 gold ounces) to a depth of 200 feet. Drilling has also shown the system is open below a vertical depth of 1,740 feet, several hundred feet below an indicated boiling zone (at a depth of 500 to 800 feet) and suggests the possibility of a second bonanza system underlying the near surface mineralization.
A qualified person has not done sufficient work to classify the historic resource estimate as current mineral resources or to verify the analytical work as reliable. These do not meet current 43-101 standards and are presented here only as an indication of the amount of gold mineralization
ON BEHALF OF THE BOARD
Glen Watson CEO and President
To Contact La Quinta Resources Corp.
Contact Glen Watson, 1(604) 803-5229 Email: info@ laquintaresources.com - Web Site: www.laquintaresources.com
“Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.”
This document includes forward- looking statements. Forward-looking statements. When used in this document, the words “potential”, “plan”, ”could”, “estimate”, “expect”, “intend”, “may”, “should”, and similar expressions are intended to be among the statements that identify forward-looking statements. Although La Quinta believes that their expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking