Canwealth Minerals Corporation acquires target site, 30 new claims filed in Northern Quebec

NEW YORK and MONTREAL, July 29, 2011 /PRNewswire/ - Canwealth Minerals Corporation and partner ICBS Ltd., (OTCPK: ICBT) announced today that Canwealth Minerals has acquired  30 new claims, representing 4850 acres bringing a total of 35,688  acres under management by Canwealth Minerals. The new claim is located in the Abitibi Green Stone belt zone of the Grenville orogeny. This geological formation is considered a highly favourable site for exploration for gold, silver, copper, nickel and PGE (platinum group elements).

"We have taken previous samples from this area which looked extremely interesting to us" said Canwealth President Kelly Taylor. " We have sent the samples to AGAT Laboratories Ltd in Mississauga Ontario for analysis, and are expecting results shortly. However, after learning of the incursion by a major gold mining company in the surrounding area, we decided to file our claims in advance of the assay."

Canwealth Minerals Corporation is a gold and precious metal mining company has registered claims with the Minister of Natural Resources in Quebec

The company is expected to start exploration drilling at its Shadow Mountain site this coming August. The main thrust of the exploration will be to focus on sites that have a strong indication of precious metal mineralization such as Gold, Silver and Platinum.

The company's current strategic direction is to seek out properties or claims known to have highly favourable mineralized targets which will lead rapidly to the advanced exploration and development stages.

ICBS is providing management and project funding.

Legal Notice Regarding Forward-Looking Statements: Safe Harbor: This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of ICBS Limited, to be materially different from the statements made herein.

SOURCE Canwealth Minerals Corporation

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