Kootenay and Arctic Hunter enter into option agreement to drill the Santa
Lucia gold property in Mexico
Drill Targets Identified
During the last several years Kootenay has conducted extensive exploration on the
Geological Information
The
Terms of Agreement
To fulfill the terms of the option agreement Arctic must spend US$1 million on exploration over four years and issue up to 750,000 shares with 150,000 shares due on execution of the Letter Agreement and 150,000 common shares of Arctic on or before the first year anniversary and each of the second, third and forth anniversaries thereafter, of the Execution Date. Subsequent to exercise of the earn-in, Arctic and Kootenay will form a 60/40 joint venture. Funding of further work on the
The foregoing geological disclosure has been reviewed and verified by Kootenay's CEO, James McDonald, P.Geo (a qualified person for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects).
About Kootenay
Kootenay is an emerging exploration Company actively developing mineral projects in the
About Arctic
Arctic Hunter is involved in the acquisition, exploration and development of mineral properties. The Company has acquired a 100% interest in a uranium prospect comprised of eight mineral claims of approximately 6,270.83 hectares, located near Lever Lake, Northwest Territories, and known as the Lever Lake Property to determine if economic quantities of minerals exist on the property. The Company also intends to devote a portion of its efforts to the assessment and acquisition of additional mineral exploration properties and will consider the acquisition of such properties if opportunity to acquire properties of value and interest to the Company arises.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.
Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
For further information: James McDonald, CEO and President at (403) 238-6986, or Ken Berry, Chairman at (604) 601-5652; 1-888-601-5650
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