Mr. Mike Taylor reports
ACQUISITION OF 2 NEW GOLD PROPERTIES
Beatrix Ventures Inc. has acquired an option to earn a 100-per-cent interest in the Uniacke goldproperty located in Nova Scotia. The property hosts a number of goldveins and leads known as the Mount Uniacke gold district and the SouthUniacke gold district. From discovery in 1865 to 1927, Mount Uniackeand South Uniacke combined for production of 46,311 ounces (1,440,433grams) of gold from 66,029 tons (59,900 tonnes) of ore crushed.
The Meguma gold terrane
The Uniacke gold property is located near the centre of the Megumaterrane, a 480-kilometre-long wedge of metasediments up to 120kilometres wideextending the length of Nova Scotia. The Meguma is host to numerousgold deposits dating back to Canada's first gold rush following thediscovery of gold at Mooseland, Nova Scotia, in 1858. In the modernera,Osisko Mining Corp. and Orex ExplorationInc. have identified significant indicated andinferred categories of gold resources on the Goldboro property 160kilometres east of Mount Uniacke in the Upper Seal Harbour golddistrict. Orex reported a measured and indicated resource of 397,200ounces contained in 2,711,000 tonnes grading 4.56 grams per tonne goldand an inferred resource of 405,900 ounces contained in 3,438,000tonnes grading 3.67 g/t Au (cut-off grade of 1.5 g/t Au) in a NationalInstrument 43-101-compliant technical report published in 2009.
The property
The Uniacke gold property comprises 86 claims within four explorationlicences covering 1,376 hectares of highly prospective Meguma sedimentaryrocks. Gold at Mount Uniacke and at South Uniacke isgenerally associated with veins and leads associated with foldstructures and shear zones within the Meguma sediments. Beatrix intendsto conduct a compilation of historical records to determine potentialgold resources and identify drilling targets.
The vendor, Scott Grant
The vendor of the property is Scott Grant, a prospector.Mr. Grant was awarded the 2007 Nova Scotia Prospector of the Year award.
The agreement
To acquire a 100-per-cent right, title and interest in the property, Beatrix mustpay the vendor cash payments of a total of $250,000 over a three-yearperiod, including a down payment of $20,000, and issue to the vendor400,000 common shares and 300,000 warrants exercisable at a price of10 cents for a period of two years. The vendor will retain a 3-per-cent netsmelter return (NSR). Beatrix can buy down 2-per-cent of the NSR at any timefor $1.25-million. Beatrix must incur sufficient explorationexpenditures to maintain the property in good standing. This agreementis subject to the approval of regulatory bodies and the board ofBeatrix.
Mike Taylor, PGeo, director, is the qualified person responsible forthe technical information contained herein as well as the design oftechnical programs for the property.
We seek Safe Harbor.