CDN-listed Regal Goldfields has acquired eight claims in Kenogaming Twp., near Timmins, Ont.
The claims are close to the new gold discovery made by Hemlo Gold Mines (TSE) on the Sewell-Reeves property, held under option from Glen Auden Resources (CDN) (T.N.M., Dec. 19/94).
Regal will pay the vendor $5,000 and issue 10,000 Regal shares over an 18-month period. The claims are subject to a 2% net smelter return royalty, half of which Regal can buy for $500,000.
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