Cons Gold Win and New Shoshoni sign earn-in dCons Gold Win and New Shoshoni sign earn-in deal
New Shoshoni Ventures Ltd NSV
Shares issued 5,385,308 Mar 21 2002 close $.510
Friday Mar 22 2002 News Release
Mr. Glen Macdonald reports
Consolidated Gold Win Ventures and New Shoshoni Ventures have entered into an agreement whereby Gold Win may earn a 50-per-cent interest in the GSL 1, 6, 7, 8, 9 and 10 claims from Shoshoni by making cash payments totalling $20,000, issuing 200,000 shares to Shoshoni and incurring $750,000 in staged exploration expenditures prior to Dec. 31, 2009.
After completing the earn-in, Gold Win and Shoshoni may enter into joint venture to further explore the claims. Shoshoni will have the option to convert its remaining interest to a 5-per-cent gross overriding royalty. Gold Win will be able to purchase up to three-fifths of the royalty at a price of $1-million per percentage point.
These claims, covering approximately 6,760 hectares, adjoin the Drybones Bay property, which Shoshoni holds under option and where exploration of a diamondiferous kimberlite is expected to commence shortly.
Shoshoni acquired the GSL1-10 claims recently by staking.
(c) Copyright 2002 Canjex Publishing Ltd. https://www.canada-stockwatch.com