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Riverside Resources Signs an Agreement to Option Penoles Silver-Gold Property
Mar. 07, 2011 09:50AM PST
Silver InvestingRiverside Resources Inc. (CVE:RRI,PINK:RVSDF,FRA:R99) announced that it has signed a binding letter of agreement with Sierra Madre Developments (CVE:SMG) to jointly develop the Peñoles Property.
Riverside Resources Inc. (TSXV:RRI,PINK:RVSDF,FRA:R99) announced that it has signed a binding letter of agreement with Sierra Madre Developments (TSXV:SMG) to jointly develop the Peñoles Property.
The press release is quoted as saying:
Upon the exercise of the Initial Option, Riverside and Sierra shall be deemed to have formed a joint venture (the “Joint Venture”), with Sierra earning a 51% interest in the Property.
To read the full press release, click here.