Menora in deal with Black Cliff

An agreement has been worked out between Menora Resources (ME) and Black Cliff Mines (TSE) whereby the latter will sell its interests in the Squaw Creek and O’Donnel River placer gold properties to Menora for issuance of up to 3.5 million Menora common shares at 20 cents per share.

Menora and Black Cliff each has a 37.5% interest in Squaw Creek in the northwestern British Columbia- Yukon area, and a 50% interest in O’Donnel in the Atlin area of British Columbia. Squaw Creek entered production last June.

Meanwhile, Menora has an agreement to purchase an 87.5% interest in the Carmack placer gold property in Plumas Cty., Calif., through issuance of 750,000 shares and payment of US$180,000 over two years.