An agreement has been signed between Exall Resources (TSE) and American Barrick Resources (TSE) permitting the former to search for gold-mining properties in Mexico.
The agreement is for one year and is extendible at Barrick’s option for two additional 1-year terms.
Exall says it will have the option to retain a 25% working interest in any project Barrick should develop under the agreement. Exall will pay its 25% share of costs beyond feasibility to production or, alternatively, may retain a 15% net profits interest.
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