The Conversation (0)
Canterra Minerals Corporation (CVE:CTM) enters into three separate option agreements to acquire a 100% interest in a total of 74 unpatented mineral claims located in the Kenora and Patricia Mining Divisions of Ontario.
Canterra Minerals Corporation (TSXV:CTM) enters into three separate option agreements to acquire a 100% interest in a total of 74 unpatented mineral claims located in the Kenora and Patricia Mining Divisions of Ontario.
The press release is quoted as saying:
Pursuant to the terms of the first option agreement, the Company can acquire a 100% interest in 43 claims located in the Patricia Mining Division, subject to a 2% percent net smelter return royalty (“NSR”), by making aggregate cash payments of $195,000 and issuing a total of 400,000 common shares over a three year period. At any time, after exercising the option, the Company may purchase one-half of the NSR for a cash consideration of $1 million.
Click here to access the entire press release