Trading Symbol: SPR - TSX Venture Exchange
VANCOUVER, Oct. 27 /CNW/ - Supreme Resources Ltd. (the "Company") is pleased to announce it has signed a purchase agreement dated October 26, 2009 to acquire from a prospector of Princeton, BC, seven mining claims encompassing 556.42 hectares located on Map No.92H038 in the Similkameen Mining Division of British Columbia. The purchase price is $50,000 and 130,000 shares as follows:
Date Cash Shares
---- ---- ------
- on Signing Date $5,000 0
- earlier on receipt of Exchange acceptance and
December 31, 2009 $20,000 60,000
- First anniversary of signing date $25,000 70,000
There is a 2% NSR which the Company can buy for $500,000 per 1% for an aggregate total of $1,000,000. In the event the Property is used as a dump site for waste rock by a third party(s), the seller shall be paid the greater of $10,000 or ten percent (10%) of the onetime dump fee from each third party. There are no exploration requirements.
The acquisition is subject to the acceptance of the TSX Venture Exchange.
Further news will be forthcoming in the near future.
On behalf of
SUPREME RESOURCES LTD.
Per: "Allan Levien"
President and Chief Executive Officer
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the accuracy or adequacy of this release.
For further information: For further information: Allan Levien, firstname.lastname@example.org