NAG is on the right road for the size of property they have .Make as many deals as possible so they can head in multiple directions .Good buisness sense .
GOOD LUCK IN THEESE TROUBLED TIMES
WestCan Uranium Corp.,(TSX: WCU) has reached an agreement with NorthAmerican Gem Inc., (TSX:NAG) whereby WestCan has the right to acquire a37.5 per cent interest in 12 coal prospecting permits (CPP) totaling23,040 acres, located in Township 55-07-02 Northeast of Tobin Lake inCentral Saskatchewan. In addition, Silver Fields Resources Inc. (TSX:SF) will also have the right to acquire a similar 37.5 per centinterest in the property and North American Gem will retain a 25 percent interest upon completion of the agreement.
The terms of the option agreement will require WestCan to pay thesum of $7,500 and issue 200,000 common shares to North American Gem aswell as complete $480,000 in shared exploration costs on the propertywith Silver Fields, prior to October of 2011. A bankable feasibilitystudy on the property must be completed within five years of thevesting of this agreement. Upon acceptance of this study, the Companieswill enter into a joint venture agreement whereby North American GemInc. will hold 25 per cent interest in the project and WestCan andSilver Fields, will each hold a 37.5 per cent interest in the project