Tectonic Announces Agreement in Principle to Acquire Comstock Metals Ltd. and Corona Property

Tectonic Minerals Corporation (TSXV:TEK.P) enters into a letter of intent with Comstock Metals Ltd. to acquire all of the issued and outstanding shares of Comstock.

The press release is quoted as saying:

Comstock’s principal resource property is the Corona Gold-Silver Project, consisting of six exploration concessions covering 1,371 hectares located in Chihuahua, Mexico. The Corona Project is an exploration stage gold-silver project. Comstock has an option to acquire a 60% interest in the Corona Property by paying $50,000, issuing 300,000 shares and expending $500,000 on the property over the next 3 years. Comstock may acquire an additional 15% interest (for a total 75% interest) by completing a positive bankable feasibility study on the Corona Property.

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