Almaden Sells Prospector MTN., Retains NSR
12 Giugno 2008 - 7:23PM
Marketwired
VANCOUVER, BRITISH COLUMBIA (AMEX: AAU) ("Almaden") is pleased
to announce that it has signed a letter agreement with Tarsis
Capital Corp. (TSX VENTURE: TCC) ("Tarsis") whereby Tarsis can
acquire a 100% interest in the Prospector Mountain
gold-silver-copper property, located in central Yukon subject to a
net smelter return payable to Almaden.
Tarsis will issue Almaden 100,000 fully paid shares and make
cash payment of $30,000 for a 100% interest in the property.
Almaden will retain a 2% net smelter royalty (NSR) over any
minerals produced from the property. Half of the NSR may be
purchased at any time after production commences for fair value as
determined by an independent valuator. Tarsis also agrees to issue
Almaden 500,000 fully paid shares upon receipt of a positive
Bankable Feasibility Study for the property. The acquisition is
subject to the approval of the TSX Venture Exchange.
The Prospector Mountain property consists of 239 mineral claims
(Approximately 4,996 hectares) originally staked by Almaden and
located 90 kilometres north-west of Carmacks, Yukon. The property
lies within the Dawson Range portion of the Tintina Gold Belt and
covers an area of hydrothermal alteration and mineralisation
indicative of both a porphyry copper-gold and epithermal
gold-silver mineralising environment. Copper-gold mineralised and
K-silicate altered Cretaceous intrusive rocks outcrop on the
project as well as banded quartz veins that have returned high
silver and gold values from samples taken in historic work
programs.
Tarsis Grants Bonus Shares To Almaden
Pursuant to a property acquisition agreement dated 16 July,
2007, Almaden is also pleased to announce that a bonus share issue
clause has been triggered. Under the terms of the acquisition
agreement, Tarsis was required to grant Almaden 500,000 fully paid
shares if a property optionee spent $200,000 prior to 16 July 2009
on one of the projects sold to Tarsis as part of the acquisition
agreement, a condition which was recently met.
About Almaden
Almaden is a mineral exploration and development company with a
track record of making new discoveries in Canada and Mexico.
Almaden currently has an interest in 23 properties that are under
active exploration. Almaden will continue with its successful
business model of identifying new projects through grass roots
exploration and managing risk by forming joint ventures with
partner companies which then carry the cost of exploring and
developing our projects. Almaden's grass roots exploration programs
are designed to identify new mineral exploration projects in
mineral terrains geologically permissive for world-class ore
deposits. Almaden is seeking partners with the suitable business
and geological resources to explore and assess the potential of
these projects through drilling.
On Behalf of the Board of Directors
Morgan J. Poliquin, M.Sc., P.Eng., President, COO and
Director
Almaden Minerals Ltd.
Statements contained in this news release that are not
historical facts are forward looking statements as that term is
defined in the private securities litigation reform act of 1995.
Such forward -looking statements are subject to risks and
uncertainties which could cause actual results to differ materially
from estimated results. Such risks and uncertainties are detailed
in the Company's filing with the Securities and Exchange
Commission.
The Toronto Stock Exchange and American Stock Exchanges have not
reviewed nor accepted responsibility for the adequacy or accuracy
of the contents of this news release which has been prepared by
management.
Contacts: Almaden Minerals Ltd. Morgan J. Poliquin, M.Sc.,
P.Eng. President, COO and Director (604) 689-7644 (604) 689-7645
(FAX) Website: www.almadenminerals.com
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