The Conversation (0)
Dec. 01, 2010 03:22AM PST
Canadian International Mineral Inc. (CVE:CIN) reports on acquiring Prairie Lake Rare Earth Claims, Ontario, Canada
The press release is quoted as saying:
The Prairie Lake North/South Property consists of 218 mineral claims in 16 claim blocks covering 3,504 hectares in the Killala Lake and Cairngorm Lake Townships.
The Company will acquire the Prairie Lake North/South Property by paying an aggregate of $165,000 and issuing a total of 3,100,000 common shares over a five year period. The Company will also incur exploration expenditures totaling $360,000 over five years. The vendor will retain a 3% NSR, half of which can be purchased by the Company for $1,500,000.
The Prairie Lake West Property consists of 37 mineral claims in 3 claim blocks covering 592 hectares in the Killala Lake Township.
Click here to access the entire news release.
Click here to access Canadian International Minerals’ company profile.