NioCorp Developments Options Archie Lake Property

NioCorp Developments (TSXV:NB)has signed an agreement to option its wholly owned Archie Lake property in northern Saskatchewan to Ablerta Star Development Corp.

As quoted in the press release:

Under the terms of the Option Agreement, Alberta Star will have the right to earn up to a 60% interest in the Property, which comprises one mineral claim totaling 2,108 hectares, by completing a total of $1,750,000 in qualifying work on the Property prior to October 20, 2017. The expenditures include completion of a minimum of $250,000 in work prior to October 20, 2015, a further $500,000 on or before October 20, 2016, and a further $1,000,000 on or before October 20, 2017. The Option Agreement is subject to the approval of the TSX Venture Exchange (the “TSXV”) on behalf of both of NioCorp and Alberta Star. In addition, Alberta Star’s participation in the Offering is subject to the approval of the TSXV.

Click here to read the NioCorp Developments (TSXV:NB) press release