Mr. Andre Audet of Everton reports
EVERTON RESOURCES INC., AND CANADIAN STAR MINERALS EXECUTE A SALES/PURCHASE AGREEMENT WITH STRIKE MINERALS INC. FOR EVERTON'S GOLD PROJECT IN SCHREIBER, NW ONTARIO
Everton Resources Inc. has jointly finalized a contract with Canadian Star Minerals Ltd., a private company, to sell its 100-per-cent interest in a package of gold exploration properties located at Hays Lake, near Schreiber, Ont., to Strike Minerals Inc.
Everton's Hays Lake, Ontario, properties, a.k.a. the "Hemlo West Properties" are some 70 kilometres west along the Trans Canada Highway from the multi-million ounce Hemlo gold deposit in the Schreiber Hemlo greenstone belt.
Under the terms of the agreement, Everton receives $100,000 cash; 5,700,000 Strike common shares; a 0.5% NSR on the property that can be purchased for $500,000 by Strike at any time, and; Everton's right to nominate one position on Strike's Board of Directors. Strike acquires 100% interest in those properties that are directly owned and optioned by Everton.
"The finalization and execution of this contract concludes another of our planned divestitures that creates additional, long-term shareholder value by permitting EVR's management to focus on its gold and base metal discovery operations in the Dominican Republic," said Andre Audet, Chairman and CEO of Everton Resources.
"We're extremely satisfied with this sale because it fits with both Everton's and Strike's business objectives and it provides a win-win for both companies," Mr. Audet said.
The properties include some 35 sq.km of mining claims near Schreiber, Ontario and three past-producing gold mines.
We seek Safe Harbor.