The Conversation (0)
Eagle Hill Exploration (TSXV:EAG) extends the Windfall Lake Property option agreement by three years. The amended agreement states a three year extension to April 20, 2016 of the delivery date under the Option Agreement for Eagle Hill to satisfy certain delivery requirements. Noront has also granted Eagle Hill a 90 day exclusivity period to negotiate the purchase of the Noront’s 25% interest in the Property.
As quoted in the press release:
- A three (3) year extension to April 20, 2016 of the delivery date under the Option Agreement for Eagle Hill to satisfy certain Delivery Requirements (defined below) (the “Extension”);
- Noront has granted Eagle Hill a 90 day exclusivity period to negotiate the purchase of the Noront’s 25% interest in the Property;
- Eagle Hill’s deliverable requirements have been clarified and now state that Eagle Hill must deliver either a bankable feasibility study (the “BFS”) with no defined hurdle rate or obtain a financing commitment to immediately enter into commercial production (the “Delivery Requirements”);
Eagle Hill President and CEO P. Bradley Kitchen said:
The three year extension period will allow Eagle Hill to continue to develop the Windfall Lake Property. We look forward to the next stage of our property’s development and getting one step closer to Quebec’s next gold mine.
Click here to read the Eagle Hill Exploration (TSXV:EAG) press release
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