Yellow Band earning property interests

Under an agreement with Sphinx Mining (ME), Yellow Band may acquire a 50% interest in one of the properties by spending $171,500 on exploration work by Dec 22, 1991, and making a payment of $49,000. Yellow Band may raise that interest to 70% by investing an additional $343,000.

And, under an agreement with Achates Resources (ME), Yellow Band may acquire a 50% interest in the other property by spending $252,000 on exploration by Dec 22, 1991, and making a payment of $72,000. Yellow Band may raise that interest to 70% by spending an additional $504,000.

Sphinx and Achates are members of the Ariel mining group.

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