North Springs Resources Corp. (OTCBB:NSRS,OTC Pink:NSRS) announced an update on its intent to purchase a stake in a Ghana-based gold property.

As quoted in the press release:

Terms of the LOI call for North Springs to advance $150,000 to the vendors within ten (10) days and make an additional payment of $100,000 within thirty (30) days. North Springs also anticipates funding a multi-phase work commitment on the property in 2012.

Click here for the North Springs Resources Corp. (OTCBB:NSRS) press release.