Savant Options Yuby-Gabriela Property to Minera Fuego
02 Maio 2011 - 10:21AM
Marketwired
Savant Explorations Ltd. (TSX VENTURE: SVT) ("Savant") is pleased
to announce the signing of an option agreement with Minera Fuego, a
private Chilean Company on Savant's Yuby-Gabriela Property, Chile.
Under the terms of the agreement, Minera Fuego can earn a 100%
interest in the property by making US$4.03 million in payments over
48 months to Savant. Savant will retain a 2.5% NSR in the project;
Minera Fuego will have the right to reduce the NSR to 1.5% by
paying Savant US$5 million. The terms of the agreement during the
initial 12 months of the agreement are US$50,000 on signing and
subsequent option payments to keep the agreement in good standing
of US$50,000, US$180,000 and US$250,000 at 3 months, 6 months and
12 months from signing the agreement, respectively.
Savant views the Yuby Gabriela Property as a non core asset and
any funds received from the option payments will be used for
exploration of Savant's McWatters and Parbec Projects in Quebec and
general corporate purposes.
This news release contains forward-looking statements concerning
the Yuby Gabriela Property. In particular, statements regarding the
receipt of future option payments are forward looking because these
payments are in the future and there is no assurance that all these
payments will be received by Savant.. These statements are based on
assumptions and judgments of management regarding future events or
results that may prove to be inaccurate as a result of failure to
obtain necessary regulatory approvals, the failure to reach
agreement on final documentation, exploration results and other
risk factors that are beyond Savant's control. There can be no
assurance that such forward-looking statements will prove to be
accurate as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements contained in this news release.
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: Savant Explorations Ltd. John McClintock President and
CEO (604) 568-5817 info@SavantExplorations.com
www.SavantExplorations.com
Savant Explorations Ltd. (TSXV:SVT)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Savant Explorations Ltd. (TSXV:SVT)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024
Notícias em tempo-real sobre da TSX Venture Exchange bolsa de valores: 0 artigos recentes
Mais Notícias de Savant Explorations Ltd.