Anconia Announces Land Claim Option Agreement
03 September 2011 - 12:29AM
Marketwired
Anconia Resources Corp. (TSX VENTURE: ARA) ("Anconia" or the
"Company") is pleased to announce that it has entered into an
option agreement (the "Agreement") to acquire up to a 100% interest
in 23 mining claims (comprising 354 claim units) (the "Property")
in the Sault Ste. Marie mining district of Ontario.
Under the terms of the Agreement, Anconia can acquire:
i. a 50% interest upon payment of $50,000 and the issuance of 140,000
shares of Anconia;
ii. an additional 25% interest upon payment of $110,000 (payable in cash or
Anconia shares at Anconia's option) by the first anniversary of the
date of the Agreement;
iii. the final 25% interest upon payment of $110,000 (payable in cash or
Anconia shares at Anconia's option) by the second anniversary of the
date of the Agreement;
The optionors shall retain a 1.5% net smelter return royalty,
however Anconia has the right to purchase the NSR royalty in
certain circumstances.
The Agreement is subject to approval of the TSX Venture
Exchange.
About Anconia
Anconia is a base and precious metals exploration and
development company, which is focused on providing shareholder
value through the advancement of its property holdings in Canada
including the Zac and Marce projects in Nunavut Territory. Anconia
is undertaking a comprehensive exploration program to determine the
potential of the projects currently in its portfolio.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Anconia Resources Corp. Jason Brewster President and
CEO 416-815-9777
Anconia Resources (TSXV:ARA)
Historical Stock Chart
From Jun 2024 to Jul 2024
Anconia Resources (TSXV:ARA)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Anconia Resources Corp (TSX Venture Exchange): 0 recent articles
More Anconia Resources Corp. News Articles