Deal announced with Vaaldiam on HotishDIOS Options Hotish to VAALDIAM
MONTREAL, Apr 13, 2005 (CNW Telbec via COMTEX) --
DIOS EXPLORATION INC. (TSX-V: DOS) is pleased to announce it has reached an agreement with VAALDIAM RESOURCES LTD. (VAALDIAM) on its Hotish Property, Quebec. Under the terms of the agreement, VAALDIAM (VAA-TSX-V), a top-ranked diamond exploration company, can earn a 51% interest in the property by incurring $ 2 million in exploration before April 12, 2008 and the issuance, subject to regulatory approval, of 100,000 Common Shares of VAALDIAM also over three years.
Mrs Girard, President of DIOS, said "this agreement is a significant step forward to advance exploration and development of the Hotish Property".
The Hotish Property covers a large diamond exploration land position some 100 kilometers south of the diamondiferous Renard cluster, in strike with Renard, the H 1-4 cluster, Beaver Lake and the Hotish Property 1-3 sill axis. The occurrence of several diamond window kimberlitic indicator mineral dispersal trains, kimberlitic boulders and sills on the Hotish Property also suggest further diamond potential.
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