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Business Editors
REPEATING...inserting ticker symbol
VANCOUVER, British Columbia--(BUSINESS WIRE)--May 9, 2003
Custom Branded Networks, Inc. (OTCBB:CBNK), a Nevada corporation ("CBN") announced today that it has contracted to acquire five mineral titles in the South Gobi Region of Mongolia. CBN's contract with the vendor grants CBN the right to choose for acquisition, five of 14 mineral titles held by the vendor. Pursuant to the contract, CBN is required to pay US$50,000 and deliver to the vendor 5,000,000 shares of CBN common stock in exchange for the five mineral titles chosen. CBN has paid the requisite US$50,000 and is waiting for the vendor to make necessary legal arrangements to be able to transfer title to CBN. The company is waiting for the vendor's instruction for issuing the common shares of CBN. During this time, CBN continues to evaluate its choices among the properties.
Of the vendor's 14 properties, most are located within the Turquoise Hill area. Two are located approximately 7 km east of the Ivanhoe Mines Ltd. Turquoise Hill (Oyu Tolgoi) deposit, one is south of the deposit and the other 11 are located west to northwest of the deposit. The area covered by the vendor's properties totals in the aggregate approximately 400,000 hectares.