Canterra Acquires Ontario Gold Properties

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.

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