NSV Item
New Shoshoni optioning 60% interest in Li 201 to Anglo
2005-07-26 16:34 ET - Property Agreement
The TSX Venture Exchange has accepted for filing an option and joint venture agreement dated June 24, 2005, between the company and Anglo Swiss Resources Inc., whereby Anglo Swiss may earn up to a 60-per-cent interest in the company's Li 201 kimberlite property that is located in the Contowoyto Lake area of the Northwest Territories. Consideration is $130,000, payable in stages to May 25, 2008, 400,000 common shares of Anglo Swiss and $200,000 in exploration expenditures in the first year. Anglo Swiss may earn an additional 10-per-cent interest in the property by incurring an additional $3.2-million in exploration expenditures within 60 months of exchange acceptance of the agreement for filing.