Pure Nickel Exercises Option to Earn 50% Interest i

Pure Nickel Inc. (TSX:NIC) announced it has exercised its option to earn a 50% interest in the Tower property  and will continue to earn an additional 20% interest over the next two years.

As quoted in the press release:

Rockcliff has exercised the option to earn its 50% interest by spending $2,000,000 on exploration expenditures and paying $90,000 to Pure Nickel over the last two years.  Both parties will now form a joint venture and Rockcliff will earn an additional 20% in the property by spending an additional $2,000,000 in exploration and paying a total of$60,000 to Pure Nickel over the next 2 years.

Click here to read the Pure Nickel Inc. (TSX:NIC) press release.