OTCPK:NOSOF - Post by User
Post by
justdukeon Aug 28, 2007 1:49pm
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Post# 13311580
Maybe???
Maybe???PRESS RELEASE
OPTION DOUBLE EAGLE PROJECT MCFAULDS LAKE AREA IN THE JAMES BAY LOWLANDS
Noront Resources Ltd. (“Noront”) is pleased to announce that it has agreed in principal to an option agreement with Probe Mines Limited (“Probe”) (PRB-TSX Venture) of Toronto wherein Probe has been granted an option to earn a 50% interest in Noront’s Double Eagle project located in the James Bay Lowlands northeastern Ontario. This project was previously optioned to Hawk Precious Metals Inc. but has since been cancelled.
The option to earn a 50% interest in the Double Eagle project calls for exploration expenditures by Probe totalling $2 million to be expended by September 1, 2007, the first $750,000 of which must be expended by June 30, 2006. Probe has also agreed, upon execution of the agreement, to transfer to Noront, 300,000 common shares of Probe and a further 200,000 common shares of Probe on the first anniversary of the agreement, all of which is subject to the approvals of all regulatory authorities.
By Sept.1st