Properties: Attawapiskat

Property Description

The Company signed an agreement with Kel-Ex Development Ltd («Kel-Ex») by which the Company holds a 16% (20% in 2006) interest in a large portfolio
On January 27, 2003, Kel-Ex signed an agreement with Dumont Nickel Inc. granting Kel-Ex the right to acquire claims held by Dumont in the area immediately surrounding the Attawapiskat properties.  This property consisted at that time of 48 claims covering a total area of 87.7 square kilometers. The Company hold a 16% (20% in 2006) interest in Kel-Ex’s interest in the Dumont properties against the payment of 16% (20% in 2006) of the acquisition and exploration and development expenses related to these properties.

On October 31, 2007, the Company agreed to get diluted from 20% to 16% against a debt settlement of $583,279.
of claims in the Attawapiskat area of Ontario.  Under the terms of this agreement, the Company must fund 16% (20% in 2006) of all acquisition costs, exploration and development expenses relating to this portfolio of properties.  This portfolio consists of 53 non-contiguous claims covering a total of 10,512 hectares.

For more information, please continue onto our Contact section.