Nevada Sunrise Announces Earn-In Agreement for Golden Arrow Property

Nevada Sunrise Gold (TSXV:NEV) announced that it has signed a letter of agreement for its Golden Arrow property allowing Atherton Resources a chance to earn a 65 percent interest in the project. To earn that interest, Atherton will have to complete eligible expenditures of USD $4.5 million during a four-year period with a minimum yearly expenditure of $750,000.

According to the press release:

Under the terms of the letter agreement, Atherton Resources LLC (“Atherton”), a private Nevada mineral exploration company, has until January 31, 2015 (the “Exclusivity Period”) to conduct due diligence on Golden Arrow, which will include an assessment by Atherton of all historical geoscientific data, and a title opinion. Atherton shall have the right to extend the Exclusivity Period for up to two additional sixty (60) day periods by paying to Nevada Sunrise (a) US$25,000 on or before January 31, 2015, and (b) an additional US$25,000 on or before March 31, 2015. The payments made by Atherton to extend the Exclusivity Period shall be applied to a payment of US$250,000 to be made by Atherton upon signing a definitive agreement.

The terms for the definitive agreement described in the letter agreement allow Atherton to initially earn a 65% interest in Golden Arrow by completing eligible expenditures in the amount of US$4,500,000 at Golden Arrow during a four-year period with a minimum expenditure in any year of US$750,000, and by making US$1.6 million in cash payments to Nevada Sunrise.

Click here to read the Nevada Sunrise Gold Corporation (TSXV:NEV) press release