Echo Bay, Zahavy deal

After control of Noramco was acquired by Breakwater Resources in 1988, a review of the Favourable Lake project resulted in it being downgraded from the development stage back to the exploration stage.

Echo Bay can earn its interest by spending $3.5 million on exploration by 1992. Within six months of earning its interest, Echo Bay will have the right to buy another 20% interest for $4 million.

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