NEWS ROUNDUP — Radisson in deal with Hemlo Gold

Three properties in Quebec’s Destor Twp., north of Rouyn-Noranda, are being explored, Radisson Mining Resources (ME) reports.

The junior has reached an agreement with Hemlo Gold Mines (TSE) covering the properties. Acting as exploration manager for Hemlo Gold is Noranda Exploration.

Hemlo Gold may earn a 50% interest in the three properties by spending a minimum of $5 million on exploration and by purchasing a maximum of 1.4 million shares of Radisson at a minimum price of $1.

At the end of the option period, Hemlo Gold may acquire its interest either by returning the shares to Radisson for a nominal sum of $1 or by keeping the shares and paying $1.4 million to Radisson.