Canadian International Minerals Inc. (TSXV:CIN) announced that it has signed a letter of agreement with North Arrow Minerals Inc. (TSXV:NAR). It forms the basis of an agreement that will allow North Arrow to earn a 70-percent interest in Canadian International’s Pikoo Extension A and B properties.

As quoted in the press release:

The Properties

The Pikoo Extension A and B properties are comprised of 5 claims totalling 3,447 hectares.  The A group directly adjoins North Arrow’s Pikoo property, and the B group lies approximately 7 km northeast of North Arrow’s northern boundary.  The Properties are 100% owned by CIN, with no underlying royalties.  A map of the properties can be found on the Company’s website.

The Option

Under the terms of the LOA, North Arrow may earn a 70% interest in the Properties by:

• Reimbursing claim staking costs; and

• Funding exploration and evaluation of the Properties to a Discovery (as defined below) on any of the Properties within a three year period (the ‘Option Period’).

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