Placer Dome to buy Hilltop property

The sale is subject to receipt of a waiver of a first right of refusal from Chevron Resources, a previous owner of the property, and confirmation of title. According to U.S. Precious Metals, $2 million of the sale price will be paid on closing, and $600,000 will be paid through a 10% net profits interest from future Hilltop production.

The 2,000-acre Hilltop property is reported to have a geologic mineral resource of 10.5 million tons grading 0.073 oz gold per ton, plus considerable exploration potential. The property is located within the Battle Mountain/Eureka gold trend in north-central Nevada.

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