Mountain Lake Resources to Sell Bobby’s Pond Base Metal Deposit

Mountain Lake Resources Inc.(TSXV:MOA) reported that it has entered into a definite agreement with SG Spirit Gold Inc. to sell its Bobby’s Pond base metals project.

As quoted in the press release:

In consideration for the sale of 100% of Bobby’s Pond to SG Spirit Gold, upon closing, Mountain Lake will receive:

• The number of common shares of SG Spirit Gold representing 3.65% of the issued and outstanding capital of SG Spirit Gold, following completion of the $12,500,000 financing;
• A one-time cash payment of $100,000; and
• A 0.5% Net Smelter Royalty on production from Bobby’s Pond.

Click here to read the Mountain Lake Resources Inc (TSXV:MOA) press release
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