Southern Era Options Costa Roca gold mine

SouthernEra can earn its interest by financing $80,000 of project costs and 55% of the next $1.1 million of required expenditures. Also, any costs in excess of the $1.1 million will be shared equally with Equinox. Equinox holds the right to buy a 100% interest subject to a 20% net profits royalty.

Sampling and prospecting on the Macacona property has delineated seven km of gold-bearing structures. SouthernEra and Equinox plan to test the oxide and sulphide potential of the property with a 10,000-ft drill program.

SouthernEra has also arranged a private placement of 750,000 units priced at 25 cents per unit. Each unit consists of one common share and one half share purchase warrant. One warrant and 35 cents enables the holder to buy another share within a 2-year period.

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