Redfern expands holdings in Tulsequah River area

With the payment of 30,000 common shares, Redfern Resources (TSE) acquired a 100% free and clear interest in a number of claims owned by Silver Talon Mines (VSE) in the Tulsequah River area of northwestern British Columbia.

The claims share a common boundary on the east and west of ground owned by Redfern and Cominco (TSE) at their Tulsequah Chief project.

Redfern has an option to acquire Cominco’s 60% interest in the Tulsequah Chief by paying $200,000 plus 1.1 million treasury shares, as well as assuming financial responsibility for carrying out a reclamation program on the property.

Redfern has already paid $100,000 of the purchase price to fund an independent study on the cost of reclaiming the property. The company does not expect the cost to exceed $1.25 million.