News outYale options Los Amoles to Nature's Call
2010-10-18 09:45 ET - News Release
Mr. Ian Foreman reportsYALE OPTIONS OUT THE LOS AMOLES SILVER PROPERTY
Yale Resources Ltd. has signed a letter of intent with Nature's Call Brands Inc. for the option to earn a 70-per-cent interest in Yale's wholly owned Los Amoles property located in Sonora state, Mexico. To earn a 70-per-cent interest, Nature's Call will be required to pay Yale $50,000 (U.S.), spend $900,000 (U.S.) on exploration expenditures and issue one million shares to Yale over three years. The exploration expenditures required in the first year is $200,000, with $100,000 being a firm commitment. Yale has received $25,000 upon signing of the letter of intent. Yale will be the operator for the project during the length of the agreement. "We are pleased that Yale will have continued exposure to the strengthening silver market through programs funded by our partners at the Los Amoles project and at Guadalupe, where we are currently drilling," stated Ian Foreman, president of Yale.