Rainy Mountain Royalty Corp V.RMO

News - RMO options off a property.

[sammenard]

			Rainy Mountain Royalty Corp
			Symbol			RMO
			Shares Issued			29,839,118
			Close 2010-03-04			C$ 0.12
			Recent Sedar Documents

BLACK PANTHER ACQUIRES OPTION ON GOLD PROPERTY IN OLSEN TOWNSHIP, SAULT STE MARIE, ONTARIO

Black Panther Mining Corp., subject to regulatory approval, has entered into an an option agreement dated March 2, 2010, with Rainy Mountain Royalty Corp. of West Vancouver, B.C., to acquire up to a 50-per-cent interest in a 234-claim-unit gold property, located approximately 60 kilometres north of Sault Ste. Marie and 48 km east of Batchawana Bay, Ont. Under the agreement, the company is required to incur $250,000 in exploration expenditures on the property by March 2, 2011 (to acquire a 30-per-cent interest) and to incur an additional $250,000 in exploration expenditures on the property by March 2, 2012 (to acquire a 50-per-cent interest). Black Panther and Rainy Mountain have certain common directors.