Canadian International Minerals Gains 25-percent Interest in Reindeer River Syndicate

Canadian International Minerals Inc. (TSXV:CIN) announced yesterday that it has acquired a 25-percent interest in the private Reindeer River Syndicate, which holds 33 claims that together add up to 67,350 hectares.

The claims cover about 80 kilometers of a “major regional fault structure in the interpreted Saskatchewan Craton,” and the syndicate is looking into their uranium and diamond potential.

As quoted in the press release:

The Syndicate has acquired 100% interest in 33 claims totalling 67,350 hectares (166,422 acres) by staking. The Company earned its interest by contributing research and direct staking costs related to acquiring the permits from the Saskatchewan government. There are no royalties or further commitments to the company’s 25% interest in the syndicate other than assessment requirements to maintain the permits as per Saskatchewan government regulations. The Company is presently negotiating to increase its interest to 100% in the Syndicate, which will be conditional on its financial ability to fund a meaningful exploration program in 2014.

Click here to read the full Canadian International Minerals Inc. (TSXV:CIN) press release.