RE:RE:Drilling CampaignMy best guess there is no absolute guarantee. But I believe that there is no reason for Tech to drag their feet for years to come. Rouyn-Noranda, Canada, December 29, 2014 - Explor Resources Inc. (Explor or the Corporation) (TSX-V: EXS, OTCQX: EXSFF, FSE & BE: E1H1) is pleased to announce that it has signed an option agreement with Teck Resources Limited (Teck) whereby Teck could earn up to a 70% interest in the Timmins Porcupine West gold property (the Property), located in the Timmins-Porcupine Mining Camp in Ontario. First Option Explor grants Teck the option to acquire an initial 55% interest in the Property (the First Option) which Teck may exercise by incurring an aggregate of CDN$8,000,000 in committed and optional expenditures by May 1, 2019 (the due date). If Teck does not incur the listed expenditures by their due date, Teck may pay cash in lieu of the shortfall to maintain the First Option. Teck may terminate the First Option at any time prior to exercising the First Option, so long as Teck returns the Property within 30 days in good standing. Second Option Teck will have a further option (the Second Option) to earn an additional 15% interest in the TPW Property (the additional Interest) by sole funding an additional $4 million in expenditures prior to May 1, 2022, for an aggregate of $12 million on the Property prior to May 1, 2022. If Teck does not incur the listed expenditures by their due date, it may pay cash in lieu of the shortfall to maintain the Second Option. If Teck exercises the Second Option the Property shall be owned as to Teck 70% and Explor 30% interest. Joint Venture If Teck exercises the First Option, the parties shall participate in exploration and development of the Property through a joint venture (the Joint Venture), which shall be formed on the date the Second Option is exercised or expires unexercised. Thereafter, each party shall fund its prorata share of future expenditures on the Property or incur dilution via a standard industry formula. If a partys interest in the Property is diluted below 10%, its interest will be converted to a 5% net profits royalty. Upon formation of the Joint Venture, Teck will be the operator so long as it holds the largest interest.