NFX Gold gets TSX-V OK for Eloro property buy
2006-07-26 17:01 ET - News Release
Also News Release (C-ELO) Eloro Resources Ltd
Mr. Thomas Larsen of NFX reports
NFX GOLD INC. CLOSES STRATEGIC PROPERTY ACQUISITION FROM ELORO RESOURCES LTD. ALONG LARDER LAKE BREAK
NFX Gold Inc. has received final approval from the TSX Venture Exchange in connection with a previously mentioned transaction. The terms of the acquisition were reported in Stockwatch on Feb. 21, 2006.
Pursuant to the acquisition, NFX has agreed to acquire from Eloro Resources Ltd., a related party, 13 mining claims located along the Larder Lake break in northeastern Ontario. The properties consist of 10 mining claims in McVittie township, which are contiguous to the north and west of NFX\'s 100-per-cent-owned Larder Lake properties, two mining claims in McGarry township located to the north and east of NFX\'s Larder Lake properties and one mining claim located in Gauthier township, near Kirkland Lake, Ont. In connection with the acquisition, the company issued 250,000 common shares of NFX to the vendor. The shares issued pursuant to the acquisition are subject to a hold period which expires Nov. 27, 2006.
The acquisition of the strategically located properties significantly increases NFX\'s land package along the prolific Larder Lake break. NFX will add 2,064 hectares to its current Larder Lake holdings.
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