VANCOUVER, Dec. 29 /CNW/ - Iron Creek Capital Corp. (TSX-V: IRN) is pleased to announce that it has signed an amending agreement with Hochschild Mining Holdings Ltd. ("Hochschild") whereby the Victoria Joint Venture has been expanded to include the entire ground comprising Iron Creek's Vaquillas Project. As a result, the previously excluded porphyry copper properties, including Vaquillas Sur, are now subject to the terms of the Victoria Joint Venture.
Hochschild has advised the Company that it has incurred to date approximately US$1.5 million on exploration of the precious metals area of the Vaquillas Project, and under the terms of the amending agreement, Hochschild has committed to expend a further US$500,000 on exploration of the entire Vaquillas Project by December 31, 2010.
In order to exercise its option to acquire a 60% interest in Vaquillas, Hochschild must incur a total of US$6.0 million in exploration expenditures by December 31, 2013. Hochschild will be making the US$100,000 option payment to the owner of certain of the Vaquillas concessions which is due by the end of this year.
About Iron Creek
Iron Creek Capital Corp. is a Vancouver-based mineral exploration company engaged in the acquisition and exploration of precious and base metals projects in Chile.
ON BEHALF OF THE BOARD
Michael Winn, President
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Iron Creek Capital Corp. Actual results may differ materially from those currently anticipated in such statements.
SOURCE Iron Creek Capital Corp.
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