Encore Renaissance Announces Acceptance of 75% Interest in Bonaparte Gold Property

Encore Renaissance Resources Corp. (TSXV:EZ) reports on increasing its interest to 75% in the Bonaparte Gold Property.

The press release is quoted as saying:

Encore Renaissance has paid a total of $7,000,000, issued 12,500,000 shares and incurred work costs of at least $3,405,401 and had earned a 51% interest in the Property. In consideration of the excess work costs incurred by the Company on the Property, BCT has agreed to accept the issuance of 20,000,000 shares by the Company as the final payment required for the Optionee to earn a 75% interest in the Property and waive any further payment.

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