Post by Franko10 ™ on Sept 11, 2004 14:38:12 GMT -5
December 22, 2000
Option Agreement on Four Mineral Claims
Shane Resources is pleased to announce that it's option agreement to acquire a 50% interest in the four mineral claims located in the Fort a la Corne area of Saskatchewan has been approved by the Canadian Venture Exchange. The Company has issued 100,000 common shares of it's capital stock to Carina Resources Corp. and Consolidated Pine Channel Gold Corp. (as to 50,000 shares each), as partial consideration for the grant of the option. The Company must also contribute an aggregate of $900,000 in funding for exploration of the mineral claims over a three year period. The shares are subject to a hold period in British Columbia expiring 12:00 (midnight) on December 14,2001.
The Company further announces that, subject to Canadian Venture Exchange approval, it has amended the terms of the incentive stock options granted to certain of its directors. The stock options granted on July 6, 1999 for the purchase of a total of 350,000 common shares at an exercise price of $0.25 per share have been reset at $0.15 per share. In all other respects, the terms of the stock options remain unchanged.
ON BEHALF OF THE BOARD OF DIRECTORS OF SHANE RESOURCES LTD.
Rick Walker President
The Vancouver Stock Exchange has neither approved nor disapproved the contents of this news release.
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