Redhill Completes Gullewa Acquisition Terms With Sherwin Iron Ltd.

Redhill Resources Corp. (TSXV:RHR) reports  it has made the final payment to Sherwin Iron Ltd.

The press release is quoted as saying,

Redhill’s interest in the Gullewa Project was originally acquired from Sherwin Iron Ltd. (formerly Batavia Mining Ltd.) under the terms of an agreement (the “Underlying Agreement”) dated April 18, 2008 as amended. Accordingly, Redhill has now completed the terms of acquisition from Sherwin Iron Ltd. to acquire a 100% interest in the Gullewa Gold Project.

Redhill entered into an agreement with Mutiny Gold (“the Agreement”), dated July 20, 2010, whereby Mutiny can earn a 70% interest in and to the Gullewa project by making scheduled payments to Redhill totaling AUD$9,000,000 plus 70% of replacement bonds.

For the complete press release, click here.