Vior Announces Agreement in Principle With Aurvista Gold

Societe D’Exploration Miniere Vior Inc.(TSXV:VIO) enters into a letter agreement with Aurvista Gold Corporation in connection with the acquisition by Aurvista of a 100% ownership interest in the Douay property.

The press release is quoted as saying:

In order to acquire an additional 25% ownership interest in the Douay property, thereby bringing its total interest in the property to 50%, Aurvista must pay $1.5 million to Vior within a period of 60 days from the execution of the letter agreement. Aurvista expects to fund the $1.5 million payment with the proceeds of a proposed private placement. In order to acquire an additional 50% ownership interest in the Douay property, thereby bringing its total interest in the property to 100%, Aurvista must issue a minimum of 21.25 million shares to Vior. After this share issuance, it is expected that Aurvista will have approximately 44.5 million shares issued and outstanding. Aurvista will undertake to spend at least $3 million in exploration on the Douay property by December 31, 2011.

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