McAdam Resources has taken an option to acquire the old McWatters

about six miles southeast of Rouyn, Que. McAdam has to pay the vendor, Jack Stoch Geoconsultant Services, $500,000 over three years, 250,000 shares of McAdam with a 5-year option to buy another 125,000 shares at $1.25, do $500,000 of work on the property each year for five years and pay Stoch a net smelter return of 2% escalating to 3% after payback.