ALR News ReleaseAlder options Canadian Creek project from Cariboo Rose
2009-06-12 15:21 ET - News Release
Also News Release (C-CRB) Cariboo Rose Resources Ltd
Mr. Bruce Ford of Alder Resources reports
ALDER RESOURCES LTD. OPTIONS CANADIAN CREEK, YUKON, PROPERTY
Alder Resources Ltd. has signed a letter of intent option agreement with Cariboo Rose Resources Ltd., of Vancouver, B.C., giving it the option to earn a 60-per-cent interest in Cariboo Rose's Canadian Creek mineral property, located in the Whitehorse mining district of the Yukon Territory, 160 kilometres south of Dawson City, Yukon. The property is also 50 kilometres southeast of the Underworld Resources Inc.-owned White Gold project and approximately 25 kilometres southeast of Kaminak Gold Corp.'s Coffee property. The Canadian Creek claims cover an area of approximately 4,800 hectares.
Alder can earn a 60-per-cent interest in the property by completing certain cash payments (totalling $250,000), issuing a total of 250,000 shares in its capital and fulfilling designated exploration expenditures on the property totalling $2.5-million, within the times specified, all to be completed by June 18, 2013. Alder has given a firm commitment to complete the first $250,000 of the work by June 18, 2010.
Alder has also committed to finance and complete an NI 43-101-compliant report on the property by Jan. 31, 2010.
Upon Alder earning a 60-per-cent interest in the property, the parties shall be constituted a joint venture.
More detailed information about the property was given by Cariboo Rose in a news release issued by it in Stockwatch on June 8, 2009, which may be seen at its website.