Regarding ELN's Home Page Update I note some obvious changes, one being the chairman's message.
1. The Murray Brook Deposit
The Murray Brook deposit is a polymetallic, volcanic hosted massive-sulfide deposit in the Bathurst Mining Camp, New Brunswick. The property is located approximately 60 km west of Bathurst with excellent infrastructure including a mine mill and smelter complex owned by Xstrata Zinc Canada, paved roads, grid electricity and communities serving as sources of goods, services and skilled labor pools.
Under Votorantim's Option and Joint Venture Agreement with Murray Brook Minerals and Murray Brook Resources, both privately held companies, Votorantim can earn a 50% interest in the properties by funding $2,250,000 in exploration expenditures and making payments totalling $300,000 over a three year period that commenced November 1, 2010. Votorantim can earn an additional 20% interest in the properties by funding an additional $2,250,000 in exploration expenditures over an additional two year period. ELN has elected to enter into a participation agreement wherein it can earn 50% of Votorantim's interest by paying 50% of the costs incurred by Votorantim in the Option and Joint Venture Agreement.