Thor Gold options B.C. mineral claims

An option to acquire a 50% interest in five mineral claims in the Similkameen division of the Yale district, B.C. has been acquired by Thor Gold Corp., from Highland Valley Resources

To exercise the option, and earn the interest, Thor must make a cash payment of $100,000 to Highland on or before the end of this year, a further cash payment of $150,000 by the first anniversary of the agreement, and spend $1 million before the third anniversary.

If Thor exercises the option, both parties would, if warranted, conduct a joint operation on the claims, with each holding a 50% interest. Highland would be operator.

Thor adds it is in the process of making a private placement of both common shares and flow-through shares to fund the agreement with Highland. Thor is offering 25 units, at $10,000 per unit to close friends and business associates of the company’s directors and officers.

Each unit will give each subscriber 12,500 common shares of Thor, and an additional 10,000 flow- through shares.