Midland Exploration Inc. (CVE:MD) signs an option agreement with Aurizon Mines Ltd (TSE:ARZ) on the Patris gold project, currently held 100% by Midland.
Midland Exploration Inc. (TSXV:MD) signs an option agreement with Aurizon Mines Ltd (TSX:ARZ) on the Patris gold project, currently held 100% by Midland.
The press release is quoted as saying:
The project, which comprises 50 claims covering a surface area of 22 square kilometres, is located in La Pause and Clericy townships, only 30 kilometres northeast of Rouyn-Noranda, in the Abitibi region of Quebec. Aurizon can acquire 50% of Midland’s interest during a four-year period under the following conditions: a total of $230,000 in cash payments including a payment of $40,000 upon signing the agreement; a total of $3,000,000 in exploration expenditures including a firm commitment of $600,000 in the first year.