Alaska Pacific Signs Agreement to Purchase Gold Property in Tanzania

Alaska Pacific Energy Corp. (OTC:ASKEE) announces that it APEC has now completed negotiations and executed documents to acquire an 80% interest in property in the United Republic of Tanzania.

The press release is quoted as saying:

APEC will pay Sundance Gold (Tanzania) Ltd in both cash and stock; the company will also spend significant money for exploration work over three years. A detailed exploration program is being initiated on the property which is located to the Southeast of the Canaco Resources Inc. major gold discovery which was recognized last summer as being in a new geological setting (high grade granulite facies metamorphic terrain) which can produce sizable mineralized deposits. Initial drill results of the Canaco property were reported on that company’s website.

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