Good news releaseNAG is on the right road for the size of property they have .Make as many deals as possible so they can head in multiple directions .Good buisness sense .
GOOD LUCK IN THEESE TROUBLED TIMES
WestCan Uranium Corp.,(TSX: WCU) has reached an agreement with NorthAmerican Gem Inc., (TSX:NAG) whereby WestCan has the right to acquire a37.5 per cent interest in 12 coal prospecting permits (CPP) totaling23,040 acres, located in Township 55-07-02 Northeast of Tobin Lake inCentral Saskatchewan. In addition, Silver Fields Resources Inc. (TSX:SF) will also have the right to acquire a similar 37.5 per centinterest in the property and North American Gem will retain a 25 percent interest upon completion of the agreement.
The terms of the option agreement will require WestCan to pay thesum of $7,500 and issue 200,000 common shares to North American Gem aswell as complete $480,000 in shared exploration costs on the propertywith Silver Fields, prior to October of 2011. A bankable feasibilitystudy on the property must be completed within five years of thevesting of this agreement. Upon acceptance of this study, the Companieswill enter into a joint venture agreement whereby North American GemInc. will hold 25 per cent interest in the project and WestCan andSilver Fields, will each hold a 37.5 per cent interest in the project