The Conversation (0)
Excalibur Resources Ltd. (CNQ:XBR) reports that it has renegotiated and signed the Silver King option agreement.
The press release is quoted as saying:
Under the new agreement, in return for total cash payments of $192,243 over the next 3 years and the issuance of 140,000 shares, Excalibur has the option to acquire a 100% interest in the mineral rights, title and interest in 24 crown grants and 8 mineral claims located south of Nelson, BC. In addition, Excalibur has the option to acquire a 100% interest in the land rights for a payment of $250,000.
Excalibur’s President and CEO, Mr. Gallagher says:
“We welcome the signing of a new agreement, which extends the previous option period, reduces our cash payments and allows Excalibur to purchase 100% in both the land and mineral rights. It is our goal to outline a 43-101 compliant resource in the next phase of drilling”.
Click here to access the entire press release.
