STK NewsStrike Minerals, Chalice, Abitibi Mining property deal
2009-06-11 16:55 ET - Property Agreement
The TSX Venture Exchange has accepted for filing documentationpertaining to an option agreement dated March 26, 2009, between StrikeMinerals Inc., Chalice Diamond Corp. and Abitibi Mining Corp., wherebythe company can earn up to a 100-per-cent interest in certain miningclaims, located in Meath and West townships, Sault Ste. Marie miningdistrict, Ontario.
Under the terms of the agreement, the company can earn a100-per-cent interest in the property by making total cash payments of$60,000, issuing 300,000 common shares over a two-year period andincurring cumulative exploration expenditures of $300,000 over athree-year period.
Additionally, the company had agreed to issue 40,000 commonshares to Terry Nicholson as a finder's fee in connection with thetransaction.
For further details, please refer to the company's news release dated March 30, 2009.