Properties: Foleyet

Property Description

The Company signed an option agreement to acquire 50% of the property for a cash consideration of $4,500 (unfulfilled condition) and the issuance of 750,000 common shares (filled condition). This property is located in the Patricia Mining Division in Northern Ontario and was consisted of 18 units. During the fiscal year, 14 units were abandoned. The property is subject to a 1.1% NSR half of which can be repurchased for a cash payment of $500,000.

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