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Nevada Gold Corp (OTCBB:NVGC) said Thursday it has entered into a formal option agreement to acquire up to a 75 percent interest in a former-producing silver-lead-gold mine in Nevada.
Nevada Gold Corp (OTCBB:NVGC) said Thursday it has entered into a formal option agreement to acquire up to a 75 percent interest in a former-producing silver-lead-gold mine in Nevada.
As quoted in the press release:
The terms of the option agreement are as follows: $5,000 due Sept 30 2013 and a minimum work expenditure of $120,000 in the first year of the Agreement; a minimum work expenditure of $250,000 in the second year of the Agreement; a minimum work expenditure of $350,000 in third year of the Agreement and a minimum work expenditure of $1,250,000 in the fourth year of the Agreement.
Read the full press release by Nevada Gold Corp (OTCBB:NVGC) here