Altan Rio Minerals Acquires 100 Percent Interest in Khavchuu Gold Project

Altan Rio Minerals Limited (TSXV:AMO) announced that they have acquired a 100 percent interest in the Khavchuu gold project in northern Mongolia.

As quoted in the press release:

Under the terms of the Agreement, Altan Rio will make cash payments totaling US$75,000 (of which $60,000 has been paid and $15,000 is payable on or before the date that is 30 months from May 3^rd, 2011 , issue 760,000 common shares in the capital of the Company upon TSX.V approval and make a final payment of either US$285,000 or the equivalent in common shares in the capital of the Company on or before the date that is 30 months from the Commencement Date. In addition, US$300,000 in cumulative property expenditures must be incurred within 24 months of the Commencement Date.

To view the full press release, click here.