Harmony to Acquire the Purisima Project

Harmony Gold Corp. (TSXV:H) enters into a option agreement with ECI Exploration and Mining Inc. to acquire up to a 70% interest in ECI’s Purisima Project located in the state of Nayarit, in west-central Mexico.

The press release is quoted as saying:

Harmony may exercise the initial Option by: (a) making the option payment described above; (b) incurring $750,000 in exploration expenditures on the Purisima Properties, a minimum of 3,000m of drilling on or before 12 months from the Acceptance Date, an additional $1,000,000 in exploration expenditures on or before 24 months from the Acceptance Date, a final $1,500,000 in exploration expenditures on or before 36 months from the Acceptance Date; (c) issuing 1,000,000 common shares in the capital of Harmony (“Harmony Shares”) to ECI within 5 business days of the Acceptance Date, issuing 2,000,000 common shares in the capital of Harmony Shares to ECI no later than 24 months from the Acceptance Date, issuing 3,000,000 common shares in the capital of Harmony Shares to ECI no later than 36 months from the Acceptance Date.

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