Guyana Frontier Mining Corp. (CVE:GYG) reports that it has received TSX Venture Exchange acceptance for the Five Star property located in northwestern Guyana, South America.
The press release is quoted as saying:
Five Star consists of 14 mining permits and 11 prospecting permits, which cover an area of approximately 25,065 acres (10,144 hectares) near the settlement of Matthew’s Ridge, Guyana. Five Star is adjacent to Guyana Frontier’s Whana and Black Banana properties, which forms a contiguous area of approximately 115,580 acres (47,775 hectares). Guyana Frontier acquired its 100% interest in Five Star from two separate underlying vendors, Case Development Company Ltd. and Marcel Andrew Waaldijk (collectively, the “Underlying Vendors”), with each Underlying Vendor currently maintaining a 3% net smelter returns royalty (“NSR”) on their respective permits. Each NSR is subject to buy-down provisions. Further details on the acquisitions of Five Star and the NSRs can be found in Guyana Frontier’s news releases dated April 12, 2010, April 20, 2010, and April 21, 2011.