A 42-claim property in the Red Lake mining camp in northwestern Ontario is being purchased by Societe Miniere Mimiska (ME). An agreement with three individuals — Michael Desmoulins, Perry English and Andy Hager — stipulates Mimiska may acquire 100% ownership through cash payments totalling $43,000 and the issuance of 60,000 shares during a 3-year period. The sellers may retain a 2% net smelter return royalty.
The company says surface exploration work, to be followed by a drilling campaign, is planned.
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