Canwealth Minerals Corporation's Lake View property hits positive for Gold and Platinum

NEW YORK and MONTREAL, July 7, 2011 /PRNewswire/ - Canwealth Minerals Corporation and partner ICBS Ltd., (OTCPK: ICBT), announced today that its Lake View project which is located in the Regional county of Abitibi 55km northwest of Amos Quebec in the prolific Abitibi Greenstone Belt. It is comprised of 64 claim cells totaling 8951 acres. This VMS ( Volcanogenic massive sulfide ) formation is considered a highly favorable site for exploration for gold, silver, copper, nickel and PGE ( platinum group elements ).

The Lake View claim, has received positive results from AGAT Laboratories assay office for Gold and Platinum.

"As a result of this latest assay, Lake View will be one of the prime target for core sample drilling in August", said Kelly Taylor President of Canwealth Minerals Corporation.

"We are very excited about the whole Lake View project", said Garth McIntosh, President & CEO of ICBS Ltd. "Not only have the overall assay from this area  shown positive for Gold, and Platinum, but also, Silver, Nickel,  and REE ( Rare Earth Elements ).

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

While the preliminary samples are from the surface, this has confirmed that core drilling is indicated as the next step to exploration of the site.

The company is expected to start exploration drilling this coming August . The main thrust of the exploration will be to focus on sites that have a strong indication of precious metal mineralization .

The company is expecting initial geological reports expected by the fall.

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 Harbour: 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 Harbour 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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