Tamerlane Ventures Announce Option Agreement with Panarc Resources Ltd.

Tamerlane Ventures Inc.(TSXV:TAM) announced entering into an optioning agreement for the acquisition of the Indian Mountain Lake property.Tamerlane has the option to earn 100% in the property over a 5 year period under the terms of the agreement.

As quoted in the press release:

Tamerlane has the right to earn up to 100% interest in the Indian Mountain Lake property by spending a total of $4 million in exploration on the project, paying $2.106 million and issuing 900,000 shares to Panarc over a 5 year period. An initial $106,000 payment and issuance of 100,000 shares to Panarc allows Tamerlane the first year to evaluate the property before any other payments are required.

Click here to read the Tamerlane Ventures Inc. (TSXV:TAM) press release