RE: RE: News ReleaseFrom Yale nr July 16th:
To earn a 90% interest Gold American is required to pay Yale US $900,000 cash ($40,000 received), spend US $ 2,000,000 on explorationexpenditures and issue 1,000,000 shares to Yale (200,000 received) instaged payments over four years. Yale will act as the operator for theproject. The minimum work commitment before June 30, 2011 is US $400,000 including a minimum of 2,000 metres of drilling. Should theearn-in be completed Yale will retain a 10% participating interest inthe property as well as a 2% NSR, which can be bought out in entiretyfor US $ 2,000,000.