Canwealth Minerals Corporation new site is designated as the Eastbay Gold camp

NEW YORK and MONTREAL, March 19, 2012 /CNW Telbec/ - Canwealth Minerals Corporation and partner ICBS Ltd., (OTCPK: ICBT), Is pleased to announce that the 6 new claim cells representing 782 acres in Northern Quebec's James Bay  basin are located on the shore of the Opinaca River.

This new claim block is located approximately 44 miles west of the Opinaca reservoir. These claims are classified as orogenic/ porphyry in geology containing high occurrences of gold, copper and molybdenum as indicated by the latest Quebec government geological surveys of 2007 and proven historical results.

The management of Canwealth Minerals and partner ICBS Ltd are excited about this great opportunity to expand our portfolio of properties in Northern Quebec. A first phase due diligence will be performed as soon as possible which will include a complete geophysics and sampling program. The claim block is 100% owned by Canwealth Minerals Corporation. These 6 claim cells are located well within the James Bay basin and are considered to be the new green stone belt of Northern Quebec due to the high occurrence of gold and copper.

At the present time the company holds 9 Mining properties (268 Claim cells) in Northern and southern Quebec for a total of 38,573 acres under management and is 100% owned by Canwealth Minerals Corp.

Canwealth Minerals Corporation is a gold and precious metal exploration company which has registered these claims with the Minister of Natural Resources and Forestry of Quebec. The main thrust of the exploration will to be focused on sites that have a strong indication of precious minerals, such as Gold, Silver, Platinum and REE (rare earth elements).

The company is expecting the new site to be accessed this coming spring with grab sampling and assay reports to be completed by mid-summer.

The company's current strategic direction is to seek out viable properties/claims known to have high value mineral targets which will lead rapidly to the advanced exploration and development stage and bring the maximum in shareholder value.

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, ICBS Limited
www.canwealthminerals.com
www.icbs.ca
CONTACT: Kelly Taylor, President & CEO Email: [email protected]