Tournigan options Wyoming mining claims from Sweetwater
2005-10-11 16:23 ET - Property Agreement
TSX Venture Exchange has accepted for expedited filing documentation of an option agreement dated Sept. 14, 2005, between Tournigan Gold Corp. and Sweetwater River Resources LLC (an arm's-length Wyoming corporation, the optionor), whereby the issuer may acquire up to a 100-per-cent interest in a portfolio of uranium mining claims located in the state of Wyoming.
In order to earn an 85-per-cent interest in the properties, the issuer is to pay $140,000 and issue 200,000 shares. There are additional option payments totalling $125,000 payable by Sept. 15, 2008. Following completion of the above payments, the issuer has the right to earn an additional 15 per cent in the properties by making cash payment of 5 per cent of the fair market value of the properties as determined by an independent valuator. |