San Gold, Canadian Arrow Sign Agreement

San Gold Corporation (TSX:SGR,OTCQX:SGRCF) announced an option agreement with Canadian Arrow Mines Ltd. (TSXV:CRO) for properties in Ontario, Canada excluding ownership of palladium and platinum.

As quoted in the press release:

The Agreement gives San Gold an 80% undivided interest in all precious metals including, but not limited to, gold and silver but specifically excluding platinum and palladium (the “Precious Metals”), contained on Canadian Arrow’s current properties. The rights to all other mineral resources including, but not restricted to, base metals, platinum and palladium remains with Canadian Arrow.

San Gold’s President and CEO, George Pirie said:

This is an outstanding land package that we’ve been able to establish in the Rainy River area. This Agreement, in conjunction with the contract recently signed with Opawica, secures a proven gold property along with the main structural features associated with that deposit.

Click here to read the full San Gold Corporation (TSX:SGR) report.