Murgor finds new partner in Eagle Hill to focus its exploration at the
Windfall Gold Property in Quebec.
KINGSTON, ON,
Murgor also signed a property management contract with Eagle Hill whereby Murgor will be conducting the exploration work financed by Eagle Hill. Murgor will be collecting a management fee of 10% on all exploration expenditures and will collect a discovery bonus upon delineation of a NI 43-101 compliant Inferred gold resource. The bonus amounts to
André Tessier, President and CEO of Murgor Resources said: "This is a great opportunity for Murgor. We have always believed in the Windfall property and we believe that Eagle Hill has the right strategy and the right focus to bring the project to fruition. Murgor is keeping an important interest in the project through Eagle Hill and by managing Eagle Hill's exploration of the project. Furthermore, by collecting management fees, Murgor will be able to finance part of its exploration elsewhere in
Under the terms of the first agreement, Eagle Hill will be earning a 50% interest in 29 claims from Murgor (25%) and Freewest (25%) by paying
Under the terms of the second agreement, Eagle Hill will be earning a 100% interest in 184 claims from Murgor (50%) and Freewest (50%) by paying
About Murgor Resources
Murgor Resources Inc. is a mineral exploration and development company focused on copper, zinc and gold deposits in
Dr. Jean-Philippe Desrochers, P.Geo. and Vice-President of Exploration for Murgor Resources Inc. is a Qualified Person as defined by NI-43-101 and reviewed the technical information contained in this press release.
This news release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization, resources and reserves, exploration results, and future plans and objectives of Murgor, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Murgor's expectations are exploration risks detailed herein and from time to time in the filings made by Murgor with securities regulators.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information: For further information: PLEASE VISIT MURGOR'S WEBSITE AT WWW.MURGOR.COM OR CONTACT: André C. Tessier, President & CEO, MURGOR RESOURCES INC., Tel: (613) 546-7503 or 1-888-891-3330, Fax: (613) 546-7318, E-mail: [email protected], Web site: www.murgor.com
Share this article