Properties: Bristol

Property Description

The Company signed an option agreement to acquire 100% of property for a cash payment consideration of $5,000 and the issuance of 125,000 common shares on the agreement date; 62,500 common shares on August 27, 2006, and a cash payment of $5,000; 62,500 common shares on February 27, 2007; 62,500 common shares on August 27, 2007; 62,500 common shares and a cash payment of $7,500 on February 27, 2008. All cash payment considerations and issuance of common shares noticed in the agreement as at October 31, 2007 were respected.  The 62,500 shares of August 27, 2007 are accounted in share to be issued.  Furthermore, $100,000 exploration work must be incurred within a three -year period.  At October 31, 2007, $32,281 exploration work was incurred. This property is located in Carscallen Township in Ontario and consists of 80 units covering 1,280 hectares. The property is subject to a 3% NSR half of which can be repurchased for a cash payment of $2,000,000.

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