Nevada Sunrise Enters Option Agreement for Roulette Gold Property

Nevada Sunrise Gold Corporation (TSXV:NEV) has entered an option agreement whereby it will purchase the Roulette gold property in eastern Nevada. The project consists of 120 unpatented claims, with McEwen Mining’s (NYSE:MUX) Limo project to the north and claims owned by Freeport McMoran (NYSE:FCX) to the West.

As quoted in the press release:

For an option to earn up to a 100% interest in the Roulette property, Nevada Sunrise has agreed to pay the following consideration to the vendors (the “Agreement”) as cash payments (the “Option Payments”) on the subsequent anniversaries of the Agreement (all dollar figures are in US dollars):

• On signing definitive agreement: $ 7,500
• 1st Anniversary: $ 12,500
• 2nd Anniversary $ 20,000
• 3rd Anniversary $ 25,000
• 4th Anniversary $ 30,000
• 5th Anniversary $ 35,000 (or a $200,000 buyout as described below)

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