Vancouver, British Columbia: Mr. Robert D. Brown, President and CEO of TLC Ventures Corp. (“TLC Ventures” or the “Company”) (TLV: TSX-V) is very pleased to announce that the company received shareholder approval at the Company’s annual general meeting (“AGM”) held on May 30, 2007 to change the name of the Company to Calibre Mining Corp. The new symbol will be “CXB” and the new CUSIP number is 13000C106. The name change and symbol change will take effect Monday June 18, 2007.
ANNUAL GENERAL MEETING RESULTS
The Company is pleased to report that; Robert D. Brown, Ed Farrauto, Douglas B. Forster, Richard Henley, Jeffrey P. Franzen, Hon. John Reynolds, P.C. and Blayne Johnston, were all reappointed to the board of directors at the Company’s AGM. As well, shareholders approved the amendment of its stock option plan.
A drilling program consisting of six RC holes totalling 1,336 metres was completed at the Cargo Porphyry Cu-Au prospect in New South Wales, Australia during Q2/07. The holes were drilled on two fences spaced 200 metres apart with a between-hole distance of approximately 100 metres. Holes dip at -60 degrees to the north-northeast and range from 135 to 250 metres in length. Holes tested targets based on structural and alteration mapping undertaken in December, 2006. The program tested the continuity of intensely-altered, steeply-dipping copper and gold- bearing hydrothermal breccia bodies. As well, it obtained geological information from a 350 by 300 metre untested area located between the main area of outcropping alteration and the Essex gold prospect. Assay results for the drill holes will be released once they have passed QA/QC. This will be on completion of check analyses, which are now in progress.
A helicopter GEOTEM EM and magnetic survey has been completed by Fugro Airborne Surveys Corp. (“Fugro”) over the Company’s Point Leamington Au-Zn-Cu-Ag massive sulphide prospect in Newfoundland, Canada. A total of 2,532.6 line kilometres was flown at a 200 metre line spacing. In response to preliminary results, the Company has staked an additional 58 claims to cover potential targets in areas of favourable stratigraphy. The new claims bring the total property area to over 29,000 hectares. Results and a final report are expected from Fugro in June.
The Company announces that Dr. Richard Henley has resigned from the Board of Directors of TLC Ventures Corp. The Company would like to thank Dr. Henley for his significant contributions and wishes him well in his future endeavours.
Effective immediately, Mr. Douglas Forster, M.Sc., P.Geo. has been appointed Chairman of the Company. Mr. Forster has been associated with the mining industry for the past 28 years. He has extensive experience and a proven track record in resource project development, mergers and acquisitions, equity finance and public company management. Mr. Forster has served on the Board of Directors of the Company for the past 3 ½ years.
TLC Ventures has granted a total of 1,000,000 incentive stock options to a director and officer of the Company at an exercise price of $0.60 per share for five years. The grant of options is subject to regulatory and exchange approval.
TLC Ventures Corp.
Signed “Robert Brown”
Robert D. Brown, B.Sc., MBA
President and CEO
For Further information contact:
Ryan King, Investor Relations
Phone (604) 681-9944
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements
Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements including but not limited to those with respect to the price of gold, silver or copper, potential mineralization, reserve and resource determination, exploration results, and future plans and objectives of the Company involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of TLC Ventures to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.