More newsKnick Exploration amends CF-1, CF-2 option agreement
Ticker Symbol: C:KNX
Knick Exploration amends CF-1, CF-2 option agreement
Knick Exploration Inc(C:KNX)
Shares Issued 18,589,048
Last Close10/25/2010
.27
Tuesday October 26 2010 - News Release
Mr. Jacques Brunelle reports
KNICK EXPLORATION FINALIZES CLAIMS ACQUISITION IN TIMMINS MINING CAMP
Knick Exploration Inc. has reached an agreement on the CF-1 and CF-2properties situated in Bartlett, Musgrove and McArthur townships of theTimmins mining district. The properties are located approximately 30kilometres south of the city of Timmins, Ont., and consist of a total ofsix claims as 53 claims units covering 848 hectares (2,095 acres).
The claims are believed to have gold and volcanogenic massive sulphide potential.
The original agreement stated in Stockwatch on Oct. 1, 2010, has beenmodified to the following final agreement terms consisting of the issueof 1.5 million common shares for a 100-per-cent interest in the twoproperties. Paul Adomaitis and Gordon N. Henriksen, an insider of thecompany, are the vendors of the properties. The properties are subjectto a 3-per-cent net smelter return with a buyback of 1 per cent for$1-million.
Mr. Henriksen, PGeo, vice-president of Knick Exploration, is thecompany's qualified person as defined by National Instrument 43-101. Hehas reviewed and approved the contents of this press release.
? 2010 Canjex Publishing Ltd.