Channel Resources agreement for West Bienvill
Channel Resources agreement for West Bienville
2007-09-20 21:03 ET - Property Agreement
Also Property Agreement (C-AZM) Azimut Exploration Inc
The TSX Venture Exchange has accepted for filing documentation with respect to a letter of intent dated Aug. 29, 2007, between Channel Resources Ltd. and Azimut Exploration Inc. whereby Channel has been granted an irrevocable option to earn a 50-per-cent interest in the West Bienville uranium property that is located in Northern Quebec in phase 1 over a five-year period and an additional 15-per-cent (for a total of 65-per-cent) interest in phase 2, over a further five-year period. Consideration is $170,000, 1.2 million common shares and $3.84-million in work commitments over the term of the agreement.